NEWBUILDING CONTRACT

Wilson has entered into an agreement with a
Chinese shipyard for the construction of a series
of 8 bulk vessels of 4.500 dwt.

As part of the company`s stated growth strategy,
Wilson has today entered into an agreement with a
Chinese shipyard; Shandong Baibuting Shipbuilding
Co Ltd (Rong Cheng, China) regarding the
construction of 8 bulk vessel of 4.500 dwt. The
agreement contains various reservations from both
parties, hereunder mutually acceptable guarantees.
The subjects are expected to be lifted during
first quarter 2008.

The vessels are scheduled to be delivered from mid
2010 until primo 2012 and will have a cost price
to the yard of about MUSD 10,4/vessel. Final
information about the agreement will be made
public as soon as the subjects are lifted and the
contract becomes effective.

Wilson is currently operating a fleet of 107
vessels of which 47 within the 3-4.500 dwt segment.