REPORT FROM THE ANNUAL GENERAL MEETING OF BROSTRÖM AB

[REMOVED GRAPHICS]REPORT FROM THE ANNUAL GENERAL MEETING OF BROSTRÖM AB MD's speech In his speech, the Managing Director Lennart Simonsson said that Broström is now well prepared for taking new steps in fulfilling the company's strategy for growth. Mr Simonsson maintained that the recent market developments prove that Broström's strategy focusing on long-term contracts of affreightment, size and quality is right. During the first three months of this year Broström's annual cargo contract volumes within Europe have increased by 20 per cent. The continuously expanding oil companies are looking for logistics partners with ability to offer global solutions, reliability and flexibility. At the same time demands for quality and safety of vessels as well as of organisations are increasing. This means that our strategy pays off, said Lennart Simonsson. Dividend The AGM approved and fixed the cash dividend at SEK 0.25 per share in accordance with the Board's proposal. The record date will be 16 May and payment is expected to take place on 19 May 2000. Board Peter Cowling, Lars-Olof Gustavsson, Roelof R Hendriks, Vilgot Johansson, Claes Lundblad, Leif Rogersson and Rick C van Westenbrugge were all re-elected. At the Board Meeting following the AGM, Lars-Olof Gustavsson was re- elected as Chairman of the Board. Change of company name The AGM approved the Board's proposal to change the company name to Broström AB. Share option program The Board presented a proposal whereby share options would be offered to key employees in the Broström Group in Sweden and abroad on market value conditions. The subscription rate for the new shares shall be the equivalent amount of 130 per cent of the average list rate paid during the period from 22 May until 2 June 2000. Options can be subscribed for during certain periods, for instance from June 2002 until August 2003. Full subscription of options will increase the share capital by SEK 3,334,000 corresponding to a dilution effect of approximately 5.5 per cent of the capital and 3.4 per cent of the votes. The reason for launching a share option program is that long-term owner engagement is expected to stimulate key personnel's interest in the business and in the profit development. Furthermore, motivation and identification with the company are expected to increase. The AGM approved the Board's proposal. Göteborg 12 May 2000 BROSTRÖM AB (publ) Broström AB is one of the leading logistics providers for the oil and chemical industry, focusing on industrial product and chemical tanker shipping and marine services. The Group has 1,150 employees and net sales of SEK 2 billion. General information about Broström can be found on the Internet: www.brostrom.se. ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2004/01/09/20040109BIT00360/wkr0001.doc http://www.waymaker.net/bitonline/2004/01/09/20040109BIT00360/wkr0002.pdf