Broström has come to an agreement about acquisition of parts in part-owned vessels

Broström has come to an agreement about acquiring parts in the vessels BRO CATHERINE and BRO CHARLOTTE. The acquisitions will be paid in cash. The acquisitions refer to shares in the companies owning 51 per cent of each of the vessels BRO CATHERINE and BRO CHARLOTTE, of 45,000 dwt each and built in 1997. Broström owns since previously 49 per cent of the current vessels that are serving in Broström’s global product and chemical tanker shipping operations. Taking over of the acquired shares is planned to 15 December 2004. “Broström has been in partnership with the sellers and part-owned these vessels since their delivery from the shipyard. Therefore, we know the assets that we now acquire very well. This transaction is a step to creating an even more streamlined group structure and an increased transparency, and also gives possibilities to a more efficient operation and a greater flexibility”, says Lennart Simonsson, CEO of Broström. On 1 December 2004 the Extraordinary General Meeting authorised the Board of Directors to decide on a new share issue of a total of a maximum of 6,300,000 shares of series B for a consideration of capital contributed in kind. The intention from the beginning was that the acquisition would be settled with new shares in Broström by utilisation of a part of the authorisation. When negotiating with the sellers, who are financial investors, an agreement was made that payment would be made in cash. In consequence of this the authorisation will not be fully utilised. Broström’s negotiations with other owners of part-owned vessels/business activities continue as planned. Göteborg, 10 December 2004 BROSTRÖM AB (publ) For further information: Lennart Simonsson, CEO Broström, Tel +46 31 61 61 00 More information about Broström can be found on www.brostrom.se