NEW BUSINESS STRUCTURE IN THE PORT OF UDDEVALLA

NEW BUSINESS STRUCTURE IN THE PORT OF UDDEVALLA An agreement in principle has been reached within The Broström Ship Agency Network whereby Broströms will sell its shares, corresponding to 60 %, in the ship agency company SwanFalk Shipping AB. The buyer of the shares is Uddevalla Hamnterminal AB, which is the port and stevedoring company of Uddevalla. Hereby SwanFalk Shipping becomes a wholly owned subsidiary of Uddevalla Hamnterminal, which enables an integration of the two companies. The purpose of this change is to improve the compet- itiveness of the port of Uddevalla. By being a 40 % owner of Uddevalla Hamnterminal, Broströms will continue, together with the local municipality, to have a considerable interest in Uddevalla Hamnterminal. The deal implies a capital gain for Broströms of about SEK 4 million. The agreement is subject to the final decisions by the Board of Directors in both companies as well as the necessary labour union negotiations. Göteborg, 1 February 1999 BROSTRÖM VAN OMMEREN SHIPPING AB (publ) For further information: Anders Dreijer, Deputy Managing Director, tel +46 31 61 61 00 ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2004/01/09/20040109BIT00180/wkr0001.doc http://www.waymaker.net/bitonline/2004/01/09/20040109BIT00180/wkr0002.pdf