Change in Rickmers Executive Board

Following 10 years with the Rickmers Group and after the successful conclusion of financing agreements for the Rickmers Group’s newbuilding programme consisting of container and multi-purpose vessels, Dr Moritz Mittelbach has stepped down as CFO and Managing Director of Rickmers Holding GmbH & Cie KG and Pacific Holdings International GmbH & Cie KG with effect from 31 January 2011 at his own request.

With his expertise, Dr Mittelbach successfully guided the Rickmers Group through the difficult phase of the financial and shipping crisis; he will continue to bring his experience to bear by serving the company in an advisory role. The Executive Board thanks Dr Mittelbach for his important contribution.

Until a successor has been named, Mr Bertram RC Rickmers will be assuming the duties of the CFO in an acting capacity.

Rickmers Group is a shipping company with core activities in the fields of ship owning, ship management and liner shipping. The Group is based in and has more than 20 own offices and a widespread agency network in another 35 locations all over the world.

As a leading ship owner and ship manager, Rickmers in and operates a fleet of some 120 containerships, multipurpose vessels, car carriers and bulk carriers.

Rickmers-Linie is the world’s leading specialist in the global sea transportation of project and heavy lift cargo, maintaining a global network of specialised liner services.

The chartering and bunkering broker Marine Contracting & Consulting, the insurance agent and claims management specialist ESSE Expert SHIPPING and EVT - Elbe Vermögens Treuhand, a trustee attending to the interests of investors of KG Funds companies, complete the business portfolio of Rickmers Group.