To Copenhagen Stock Exchange Announcement No. 5 Nikolaj Plads 6 6 March 2007 DK-1067 Copenhagen K Page 1 of 1 Management change at D/S NORDEN CFO Jens Fehrn-Christensen has informed the Board of Directors of D/S NORDEN that he wishes to retire from his position before the summer of 2007 as he wishes to take an early retirement and devote himself to his family combined with a limited number of board positions. Jens Fehrn-Christensen joined NORDEN in 1992 as head of finance and, in 2000, was appointed a member of Management responsible for finance, accounts, risk management, insurance, etc. Thus, he has played an essential role in the Company's very significant growth and success in recent years. It is with great regret that the Board of Directors has taken note of Jens Fehrn-Christensen's decision, and the Board will now commence a hiring process in order to find a new CFO. Kind regards Dampskibsselskabet ”NORDEN” A/S Mogens Hugo Jørgensen Chairman Contact persons: Carsten Mortensen, President & CEO, and Jens Fehrn-Christensen, Executive Vice President & CFO, tel. +45 33 15 04 51