Information from Concordia Maritime

5/12/2003 6:20 AM EST

INFORMATION FROM CONCORDIA MARITIME AB (publ)

One of the ULCCs sold by Concordia Maritime with seller credit has now
been sold to a third party by the buyer, Oceanic Trans Shipping, which
will thus repay the seller credit to Concordia.

Concordia Maritime's result and forecast will only be marginally
affected by the transaction while cash flow will be positively affected,
SEK 90 million.

Gothenburg, 12 May, 2003

Lars Carlsson
President

Concordia Maritime is an international large-tanker shipping company,
which owns two new 314,000 dwt VLCCs delivered in 2001 and four VLCC of
about 270,000 dwt built in the mid-1970s. The new vessels, Stena V-MAX,
in addition to having mandatory double hulls, were built according to a
completely new tanker concept for safer oil transportation with double
main engines in two completely separate engine rooms, double rudders and
steering gear, two propellers and double control systems. All the
vessels were built to very high specifications as regards both customer
satisfaction and lifespan. The quality of the vessels and the management
and manning organisations is documented by quality certificates from Det
Norske Veritas and the American Bureau of Shipping.

INNOVATION AND PERFORMANCE
Our business concept is to provide our customers with safe, cost-
effective tanker transportation based on innovation and performance