Camillo Eitzen & Co ASA PRESS RELEASE: No 10/2007 Place: Lysaker Date: 12 September 2007 Acquisition of 93.1% of the shares in Dampskibsselskabet Orion A/S Camillo Eitzen & Co ASA has today acquired 2,326,545 shares, equivalent to 93.1% of the share capital and the voting rights, in the Danish stock listed company Dampskibsselskabet Orion A/S (Orion) at a price of USD 8 million basis 100%, equivalent to DKK 17.24 per share, each with a nominal value of DKK 10. Orion does not own or trade any vessels. As per 30 June 2007 Orion had USD 9.16 million in total assets, of which USD 8.4 million in cash, and the total liabilities was USD 1.6 million. Axel Eitzen, CEO in Camillo Eitzen & Co ASA states”: This is an opportunity for further expansion in Denmark, and will further enhance our strong position in Denmark.” A mandatory offer to all the remaining shareholders of Orion will be given by Camillo Eitzen & Co ASA within four weeks from today. Axel C. Eitzen Chief Executive Officer Camillo Eitzen & Co ASA Tel: + (47) 67 11 98 00 Camillo Eitzen & Co ASA is the holding company of a wide range of shipping activities world-wide, including ship owning and chartering, ship operation (particularly within dry bulk) and participation in pool activities for its different business segments. The activities are marketed through Eitzen Group, which is also involved in ship management and ship supplies through Eitzen Maritime Services ASA and commercial management through Eitzen Chemical ASA, Eitzen Bulk A/S and Eitzen Gas A/S.
Fondsbørsmeddelelse Nr. 172
| Source: U-SEA Bulk Shipping A/S