Disclosure of the sale of the bulk vessel TORM Marlene - Decision by the Danish Securities Council

10 March 2009

On 25 April 2008, A/S Dampskibsselskabet TORM announced the sale of the bulk vessel TORM Marlene. Since then, TORM has corresponded with the Danish Financial Supervisory Authority about whether TORM has made a timely disclose pursuant to Section 27 of the Danish Securities Trading Act.

In TORM’s opinion, the Company has not violated its disclosure obligations, and TORM has followed its long-standing disclosure practice when disclosing information on the sale of TORM Marlene and which is also followed by leading Danish and international companies within the shipping industry. The Danish Financial Supervisory Authority has referred the matter to the Danish Securities Council.

TORM has been informed by the Danish Financial Supervisory Authority that the Securities Council has decided to refer the matter of whether TORM has violated Section 27(1) of the Danish Securities Trading Act to the public prosecutor for further investigation. TORM has already given an account of its view on this particular matter to the Danish Financial Supervisory.

TORM is surprised to learn that the matter has been referred to the public prosecutor, but intends to cooperate in any investigation. TORM does not intend to make any additional comments to the press while the matter is pending.

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 more than 130 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

TORM, press release