PURCHASE OF VESSEL

Bergen, NORWAY


Wilson has entered into an agreement with Arno Shipping Ltd. regarding the purchase of the container vessel MV Doris.
 
MV Doris is built in 1997 and is a sister vessel of MV ECL Challenger (1995) that Wilson acquired in 2006. The vessels have each a carrying capacity of 384 TEU.

The purchase price has been agreed to EUR 7.275.000. Wilson will initially take the MV Doris on a short term time charter before the acquisition is effectuated. Closing of the purchase transaction is expected to be October/November 2008. The vessel will be renamed MV `ECL Commander` at delivery.

MV Doris will be integrated in Wilson`s container operation; Euro Container Line (`ECL`) and will expand carrying capacity in the business segment. Including MV Doris, ECL will operate a fleet of 4 vessels in a feeder service between the Continent and ports in West- and Mid-Norway.

After this transaction, Wilson will operate a fleet of 110 vessels, whereof 78 are owned.

Wilson is in the process of taking over Eimskip`s 50 % share of ECL, ref stock exchange notice of 3rd September. Formal takeover of the shares is expected to take place in October.