EAC acquires two Indian businesses within moving & relocation - Announcement number 24/2007

EAC Moving & Relocation Services (Santa Fe Holdings Ltd.) has entered
into an agreement to acquire 70 per cent of the shares in two Indian
companies, IR Moving Concepts Pvt. Ltd. and IKAN Relocation Services
Pvt. Ltd. with a total of 137 employees located in six cities. The
remaining share holdings will be held by key management in the two
companies. Santa Fe Holdings Ltd. has an option to purchase the
remaining shares after three years. The parties have agreed not to
disclose the purchase price.

The two businesses are experiencing strong growth and in the latest
audited financial year (ending 31.03.2008) they are expected to
increase revenue by approx. 20 per cent to USD 5.3m. Santa Fe expects
that the businesses can sustain strong double-digit growth going
forward based on a growing Indian GDP and continued investments into
the country from international corporations that are relocating still
more employees.

The two businesses are co-operating closely and are associated
through partly common ownership. From the six important cities, New
Delhi, Mumbai, Bangalore, Hyderabad, Chennai and Pune, the businesses
offer international and domestic moving and value-added services to
relocated employees in international corporations and institutions.
The two companies are already integrated into Santa Fe's Pan-Asian
network, offering among others value-added relocation services. These
high-margin services include immigration, visa, work permits, home
and school search, language and cross culture training, maid services
and a number of other services to help the relocated employees and
their families settling in.

The businesses' EBIT margin of 25 per cent reflects their reputation
for high quality and efficiency in an Indian relocation market still
relatively immature.

The transaction is scheduled to complete in January 2008, and as such
will have no impact on the results for 2007.
The acquisition is the latest initiative in EAC Moving & Relocation
Services' expansion within relocation services. In the first quarter
of 2007, the business entered into Korea with a fully licensed office
in Seoul. In Vietnam, EAC Moving & Relocation Services acquired its
partner, the country's leading supplier HR2B with 32 relocation
specialists and fully established moving operations in Ho Chi Minh
City and Hanoi. Most recently, EAC Moving & Relocation Services set
up operations in Taiwan in June 2007. In India, the business has its
first own employees stationed with multinational clients and these
activities will now be integrated into the acquired businesses.
Following the expansion, EAC Moving & Relocation Services offer
relocation services from own offices in 36 cities across 13 countries
and territories :Hong Kong, Macau, Singapore, Thailand, China, Japan,
Indonesia, Malaysia, the Philippines, Korea, Vietnam, India and
Taiwan. Other Asian markets are covered by partners. The Pan-Asian
coverage is crucial to meet the growing demand from international
corporations expecting total solutions for their relocated employees
across Asia.

The geographical expansion of Santa Fe's other core service, records
management, offering management of physical and on-line records for
corporations and organisations, will also continue. During H1 2007,
the activity was expanded to Singapore and Malaysia, supplementing
the operations in Hong Kong, Beijing, Shanghai, Guangzhou, Macau,
Jakarta and Manila. Further geographical expansion is under
preparation.







             For additional information, please contact:

   President & CEO Niels Henrik Jensen +65 6213 9002, +65 9758 2294
                      (mobil) , nhj@eac.com.sg
  Group CFO Michael Østerlund Madsen, +65 6213 9015, +65 9785 5334
                   (mobile), michael.om@eac.com.sg
                             www.eac.dk