Sale of one product tanker and increased expectations of USD 295-315 million

18 July 2008

As part of TORM’s planned fleet renewal according to the Company’s strategy “Greater Earning Power 2.0” TORM has entered into an agreement to sell the product tanker TORM Gotland (45,000 dwt, built in 1995) at a very satisfactory price. The vessel is expected to be delivered in September/October 2008.

As a result of the sale, TORM adjusts the guidance for the 2008 result before tax to USD 295- 315 million from the previous forecast of USD 275-295 million.

About TORM
TORM is one of the world's leading carriers of refined oil products as well as being a significant participant in the dry bulk market. The Company operates a combined fleet of 128 modern vessels, principally through a pooling cooperation with other respected shipping companies who share TORM's commitment to safety, environmental responsibility and customer service. TORM was founded in 1889. The Company conducts business worldwide and is headquartered in Copenhagen, Denmark. TORM’s shares are listed on the Copenhagen Stock Exchange (ticker TORM) as well as on the NASDAQ (ticker TRMD). For further information, please visit www.torm.com.

TORM, press release