Odfjell acquires 25% share in Noord Natie Terminals in Antwerp

4 juni 2012 Reference is made to the stock exchange announcement of 2 September 2011, in which Odfjell announced it had entered into a Letter of Intent with Noord Natie Holding CVBA to acquire 25% plus one share of the equity in Noord Natie Terminals NV located in Antwerp, Belgium. Odfjell announces that it has now reached agreement for the transaction. The transaction will be consummated through Odfjell Terminals (Europe) B.V., a subsidiary of OTLG C.V., which is the Joint Venture Company between Odfjell Terminals B.V. and Lindsay Goldberg LLC. In line with the letter of intent signed in 2011, the acquisition is valued at approximately 10 x EBITDA. The final transaction documentation is expected to be concluded by the beginning of June 2012. The Noord Natie Terminals facility currently has 297,000 cbm of storage capacity. At present, plans are in place to leverage the company's excess waterfront capacity for further expansion of 155,000 cbm to bring total storage capacity to approximately 450,000 cbm in the coming years. For more information please contact: Jan A. Hammer, President/CEO Odfjell SE Tel.: + 47 55 27 00 00 Email:jan.hammer@odfjell.com or Terje Iversen, CFO Odfjell SE Tel.: +47 55 27 00 00 Email: terje.iversen@odfjell.com This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act. This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients. The owner of this announcement warrants that: (i) the releases contained herein are protected by copyright and other applicable laws; and (ii) they are solely responsible for the content, accuracy and originality of the information contained therein. Source: Odfjell SE via Thomson Reuters ONE [HUG#1616960]