The Board of Directors of Havila Shipping ASA has in Board Meeting at 4. March 2010 approved the annual accounts for 2009.

 

The main change from the preliminary accounts is related to tax calculation.

 

As a result of The Norwegian Supreme Court's judgment of 12. February 2010 the group has reduced the tax expenses in the 2009 accounts by NOK 51 million from 2007.

 

The board has decided to invite to Ordinary General Meeting at Havilahouse on the 26. March 2010, at 14.00 hours.

 

Because of conditions in the market, especially for vessels operating in the spot market, the Board of Directors proposes to the general meeting that no dividend be distributed for 2009.

 

Contact:

CEO, Njål Sævik (047) 909 35 722

CFO, Arne Johan Dale (+047) 909 87 706

This information is subject of the disclosure requirements acc. to §5-12 vphl (Norwegian Securities Trading Act)