The Board of Directors in Svithoid Tankers will apply for insolvent liquidation

The Board of Directors in Svithoid Tankers will apply for insolvent liquidation

The Board of Directors in Svithoid Tankers AB decided yesterday on Sunday the
12th of October to investigate the possibilities for a company reorganisation.
After having reviewed the circumstances this morning it has become clear that
the prerequisites do not exist. The Board of Director has therefore decided to
apply for insolvent liquidation. 

Board of Directors in Svithoid Tankers AB

Svithoid Tankers may be required to disclose the information provided herein
pursuant to the Swedish Securities Markets Act and/or the Swedish Financial
Instruments Trading Act. The information was provided for public release on
Monday October 13, 2008 at 12.45 p.m. Swedish time.