Exmar Confirms Vessels Sale

Friday, August 19, 2005
EXMAR confirmed that an agreement in principle has been reached for the sale of nine pressurized vessels. The vessels have a capacity of 3,200 - 3,500 cbm each and were built between 1990 and 2001. The vessels are to be acquired jointly by Sloman Neptun Schiffahrts-Aktiengesellschaft, Schulte Group and Othello Shipping. The purchasers of the vessels will replace EXMAR in the Exmar Kosan Pool, where the vessels will continue to be operated. Delivery of the fleet is expected prior year's end. The capital gain is of about $41.5 million.
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