Odfjell SE -First Quarter Result 2009

05.05.2009

• Net result loss of USD 8 million, EBITDA of USD 51 million and EBIT 15 million
• Time-charter results (exclusive of bunker hedging) 7% lower than fourth quarter 2008
• Improved results from tank terminals from increased capacity
• Hedging of bunkers and currency reduced EBITDA by USD 16 million
• Cost of Total Return Swap USD 5 million

For detailed report please visit www.odfjell.no

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