RICKMERS MARITIME - ANNOUNCEMENT

PROPOSED ACQUISITION OF THIRTEEN CONTAINERSHIPS

Following its earlier announcements on 16 August 2007, 12 September 2007 and 11 October 2007, the Board of Directors of Rickmers Trust Management Pte. Ltd. (the “Trustee- Manager”), the trustee-manager of Rickmers Maritime, is pleased to announce that it has entered into thirteen conditional memoranda of agreement (the “MOA”) with the wholly-owned subsidiaries of Polaris Shipmanagement Company Limited (“Polaris”, and the wholly-owned subsidiaries of Polaris, collectively referred to as the “VesselCos”) today to acquire thirteen containerships (the “Vessels”), consisting of five 4,250 TEU Vessels that will be chartered to Mitsui O.S.K. Lines, Ltd. (the “Mitsui Vessels”), four 4,250 TEU Vessels that will be chartered to Hanjin Shipping Co., Ltd. (the “Hanjin Vessels”) and four 13,100 TEU Vessels that will be chartered to A.P. Møller - Mærsk A/S (the “Maersk Vessels”) (the “Acquisition”).

The Vessels were offered to the Trustee-Manager pursuant to the right of first offer (the “Acquisition ROFO”) granted to the Trustee-Manager under the omnibus agreement dated 24 April 2007 between (1) the Trustee-Manager (acting on behalf of Rickmers Maritime), (2) Rickmers Holding GmbH & Cie. KG (“Rickmers Holding”), (3) Pacific Holdings International GmbH & Cie. KG (“Pacific Holdings”) and Mr Bertram R.C. Rickmers (the “Omnibus Agreement”).

RICKMERS MARITIME press release