January 12, 2007

Bore extends presence in Car Carrier market – conversion completed and Auto Bank on its way with cargo back to Europe

The conversion of M/V Auto Bank (ex. M/V Serenaden) from RoRo carrier into combi car carrier with Cosco (Nantong) Shipyard Co. Ltd in China has been finalised. She has been loaded in Korea with cargo to be taken to Rotterdam. M/V Auto Bank will be sailing with cars on 3 decks and high and heavy cargo on main deck.

The conversion of M/V Heralden is due to be finalized in beginning of February 2007 when she will be renamed M/V Auto Bay and will sail with cargo from Shanghai area back to Europe.

M/V Transgard, converted into Car Carrier by former Bror Husell Chartering Ltd AB in 2005, will change name to M/V Auto Baltic in due course.

Thomas Franck, Senior Executive Vice President for Bore, says: "The conversion project has been done in close co-operation with UECC. It has been a challenging and good project with intensive project site management from both UECC and us and headed by Technical Superintendent Stig Dahlén. The shipyard has done a good job and M/V Auto Bank is well on its way now.The capacities and dimensions of the converted Car Carriers are now in tune with requirements from the charterer – UECC. The transformed carriers will fit well into our fleet of high-quality and well-maintained vessels designed for the year-round service.”

For further information on the car carrier conversions contact Vice President Marine Management Niek Spiljard, tel + 31 10 2053391.

Bore is a shipping business area of Rettig Group Ltd with a fleet of 22 vessels. In 2007 the turnover is expected to reach EUR 75 million, capital employed EUR 250 million and the number of employees 450.

Rettig Group is a Finnish family owned industrial group focusing on three core business areas: Rettig ICC (hydronic and electrical heating, indoor climate regulation), Bore (shipping) and Tarkala (real estate development and rental). In 2006, the turnover amounted to EUR 700 million and the number of personnel is 4,000.