Stock Exchange Release no. 37 Made public via OMX on 10 December 2008 Closing of the sale of NORDIC LISBETH has occurred The Supervisory Board can now announce that the scheduled closing of the sale of the company's LR1 tanker NORDIC LISBETH has occurred, which means that the vessel has been delivered to the buyer and payment for the vessel has been received as planned. As announced earlier, the vessel has been sold at a price of USD 70 million, which is a price to be considered satisfactory compared with the latest book value of the vessel prior to the sale of USD 51 million. As mentioned before, the sale of the vessel is an element of the Supervisory Board's announced strategy and efforts to optimise the future value creation of the company, e.g. through disposal of the LR1 segment. ”It is very positive for the company that the sale will result in a 36% reduction of the total debt, taking the company's equity ratio from 37% to 52%. The lower indebtedness will be of great importance to the company's freedom to act in the current financial crisis,” says Chairman of the Supervisory Board Steen Bryde: ”In this connection I would like to point out that the Supervisory Board will continue to pursue the announced strategy and will work to ensure that the value creation of the company will be for the benefit of the shareholders. This will be emphasised further through the future sale of the LR1 new building.” Pre-tax profit for the full year is still expected to be in the region of USD 23 million. Of which the sale of NORDIC LISBETH contributes with USD 19 million. Profit after tax is expected to be in the region of USD 20 million. For further information: Chairman of the Supervisory Board Steen Bryde, tel.: + 45 20 22 10 11 or Gier Jansen, CEO, telephone no. +45 40 50 43 32 Forward-looking statements This announcement contains forward looking statements reflecting the management's current beliefs concerning future events and financial results. Statements relating to 2008 are inherently subject to uncertainty and Nordic Tankers' actual results may thus differ from expectations. Factors which could cause actual results to deviate from the expectations include, but are not limited to, changes in macroeconomic and political conditions - especially on the shipping company's main markets, changes in Nordic Tankers' freight rate assumptions and operating expenses, volatility of rates and vessel prices, regulatory changes, possible disruptions of traffic and operations resulting from outside events, etc. This announcement does not constitute an invitation to buy or sell shares in Nordic Tankers A/S.