Teekay and Torm Complete Tender Offer for Shares of OMI

Teekay Corporation and A/S Dampskibsselskabet TORM announced the completion of the tender offer by their jointly owned subsidiary, Omaha, Inc., for the outstanding shares of common stock of OMI Corporation (OMI) at $29.25 net per share in cash. The depositary for the offer has advised Teekay and TORM, that, as of the expiration of the subsequent offering period, approximately 3,248,506 additional shares of OMI common stock, representing approximately 5.45% of the outstanding shares, were validly tendered during the subsequent offering period. All validly tendered shares have been accepted for payment in accordance with the terms of the tender offer. Following the purchase of the shares of common stock tendered during the subsequent offering period, the Purchaser beneficially owns a total of approximately 53,207,143 shares (excluding shares that had previously been tendered pursuant to guaranteed delivery procedures and that were not actually delivered), representing approximately 89.32% of the outstanding shares.