HAVILA SHIPPING ASA PRELIMINARY YEAR END RESULTS 2007/ Q4 2007 RESULTS


Summary:
* Havila Shipping ASA had a result before tax of NOK 340.0m for 2007 (NOK 347.6m in 2006). Total operating earnings amounted to NOK 675.3m (NOK 720.6m in 2006). The company had 10 vessels modern in operation in 2007, compared with 18 in 2006. 12 vessels are under construction for delivery by 2010.

* The operating result before deprecation (EBITDA) was NOK 477.6m in 2007, against NOK 456.8m in 2006. The operating margin, excluding financial gains, corresponds to 63% in 2007 compared with 61% for 2006.

* Operating income in Q4 2007 amounted to NOK 137.6m, compared with NOK 245.5m in Q4 2006. The operating result, excluding financial gains, was NOK 79.4m (NOK 126.6m). This corresponds to an EBITDA margin of 59% (65% in Q4 2006).

* The company has agreed to pay a extraordinary dividend to the shareholders with capital reduction corresponding to NOK 12.50 per share. This will be paid during week 10

* As a result of 2007 The Board will recommend the ordinary General Meeting to pay a dividend of NOK 4,- per share to the shareholders.

Havila Shipping ASA