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FSL Trust Still Working to Resolve Financial Difficulties

Following the 19 November 2013 suspension of trading of First Ship Lease Trust (FSL) on the Singapore Stock Exchange, the Board of Directors informs that the company remains in on-going discussions with lenders to seek a longer loan covenant relaxation and are working hard to resolve the situation. First Ship Lease Trust is a Singapore-listed business trust that provides ship leasing services on a long-term bareboat charter basis to the shipping industry.