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NORDEN sells vessels in the amount of USD 175 million for delivery in 2009

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Dampskibsselskabet NORDEN A/S
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NASDAQ OMX Copenhagen A/S                                    Announcement no. 1
Nikolaj Plads 6                                                  6 January 2009
1067 Copenhagen K                                                   Page 1 of 1


NORDEN sells vessels in the amount of USD 175 million for delivery in 2009

NORDEN has agreed to sell 2 Panamax bulk carriers and 4 Handymax bulk carriers
amounting to a total of USD 175 million before commission etc. The sales
generate a total profit of USD 13 million, which will be recognised as income
in 2009 concurrently with delivery of the vessels to the new owners. 

It applies to all 6 vessels that NORDEN has taken over the vessels by declaring
options to purchase and that the purchase options have been used for the
purpose of reselling the vessels. NORDEN is expected to take delivery of the
vessels in the first or second quarter of 2009 and will deliver the vessels to
the new owners immediately after receipt. 

Following the sales, NORDEN expects total proceeds of USD 247 million and a
profit of USD 25 million from already agreed sales of vessels in 2009. In 2010,
proceeds of USD 140 million and a profit of USD 30 million from already agreed
sales of vessels are expected. 

Furthermore, the announced sale of the 50% owned newbuilding Port Kelang has
been brought forward. According to company announcement no. 17, 1 May 2007, the
vessel was supposed to be delivered directly from the yard to the new owners in
the first quarter of 2009, but the vessel was delivered at the end of 2008.
NORDEN's share of the profit from the sale (50%) amounts to USD 6 million,
which is included in 2008 as "Share of results of joint ventures". The profit
does not change NORDEN's expectations to the financial year 2008. 

After the sales, NORDEN's core fleet of owned vessels and long-term chartered
vessels with or without purchase option counts 77 vessels (50 in dry cargo and
27 in tankers). In 2009, there will be added 20 units to the core fleet by way
of newbuildings and long-term chartered vessels. Furthermore, NORDEN operates
58 short-term chartered units in dry cargo and tankers as well as a number of
vessels for single trips. 

                                 
                                  Kind regards,
                          Dampskibsselskabet NORDEN A/S

                              
                              Carsten Mortensen
                               President & CEO

Contact at tel. +45 3315 0451: Senior Analyst Peter Sand

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

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