NORDEN sells 3 dry cargo vessels

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Dampskibsselskabet NORDEN A/S
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NASDAQ OMX Copenhagen A/S                                   Announcement no. 38
Nikolaj Plads 6                                                12 November 2008
1067 Copenhagen K                                                   Page 1 of 1


NORDEN sells 3 dry cargo vessels

NORDEN has agreed to sell 3 dry cargo vessels. The gross sales price amounts to
a total of USD 85.8 million, and the total profit amounts to USD 15.5 million. 

The vessels in question are the Panamax bulkcarrier NORD SUN (76,830 dwt, built
in 2004), the Handymax bulkcarrier NORDHOLT (55,697 dwt, built in 2005) and the
Panamax bulkcarrier NORD SATURN (76,620 dwt, built in 2005). It is expected
that NORD SUN and NORDHOLT will be delivered to the new owners during the
fourth quarter of 2008 and NORD SATURN will be delivered during the first
quarter of 2009. 

The vessel sales do not change NORDEN's 2008 full-year guidance as reported on
1 October (Company Announcement no. 36/2008). 

                                     Kind regards,
                            Dampskibsselskabet NORDEN A/S

                                   Carsten Mortensen
                                    President & CEO


Contact at tel. +45 3315 0451: Senior Vice President Martin Badsted.

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                           Dampskibsselskabet NORDEN A/S
                                  52, Strandvejen
                                 DK-2900 HELLERUP
                                 www.ds-norden.com