Camillo Eitzen & Co ASA
Agreement for sale of remaining 20% of Eitzen Ethylene Carriers

8 Jul, 2011

Reference is made to press release dated 3 May 2011. Jaccar Holdings has as of 30 June 2011 exercised its option to acquire additional 40 % of the Eitzen Ethylene Carriers A/S (EEC) shares, and thereby owns 80 % of EEC.

Camillo Eitzen & Co ASA (CECO) has today exercised its put option for the remaining 20 % share ownership in EEC. According to the terms under the agreement, the settlement will take place in October 2011. After the sale, CECO will not own any shares in EEC.

Carnegie ASA is acting as financial advisors to CECO in relation to the transaction.

Camillo Eitzen & Co ASA press release