Interim report january --september

Interim Report January 1 - September 30, 1998 * Excluding revenue from the English Channel routes the revenue was substantially unchanged at SEK 5,906 million * Restructuring costs and other one time charges have significantly affected the results in Stena Line by SEK 69 million. In addition restructuring expenses within P&O Stena Line and other one-time charges at Stena Line attributable to the formation of P&O Stena Line, negatively impacted the result by SEK 133 million. * Income before income taxes has fallen from last year's profit of SEK 102 million to a loss of SEK 115 million mainly as a result of the one time charges. * The equity to assets ratio has improved to 26 percent from 21 percent and the net debt to equity ratio improved to 2.2 from 2.6 compared to last year * The corporate reorganization plan announced in 1998 has been successfully implemented. * Management will pursue measures to increase profitability including the reduction of vessel operating expenses, exploring the closure of the Halmstad - Grenå route and substantial price increases. ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are ready for download: http://www.bit.se/bitonline/1998/10/29/19981029BIT00040/bit0001.doc