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Silja Holdings Ltd News

03 Jul 2002

Sea Containers Acquires Part of Silja

Sea Containers Ltd. passenger transport operator, marine container lessor and leisure industry investor, today announced that it has increased its shareholding in Silja Oyj Abp from 50 percent to 75.32 percent effective June 20, 2002 through the issue of 2,474,196 Sea Containers Class A common shares in payment for the Silja shares acquired. The increase in share capital is expected to be anti-dilutive. On June 25, 2002 a Sea Containers subsidiary, Silja Holdings Ltd., announced that it had launched a tender offer for the remaining shares in Silja Oyj Abp as well as for Silja’s outstanding Convertible Bonds which have a par value of Euro 55.5 million. The offer is Euro 2.25 for each common share and 92.4% of the par value of the bonds.

07 Aug 2002

Sea Containers Acquires 92 Percent of Silja

Sea Containers Ltd. passenger transport operator, marine container lessor and leisure industry investor, announced that its wholly-owned subsidiary, Silja Holdings Ltd., had received acceptances of its tender offer to acquire all the outstanding common stock of Silja Oyj Abp, bringing its total shareholding in Silja to 92 percent. The significance of the 90 percent threshold is that Silja Holdings may now compulsorily acquire all the remaining shares in Silja in accordance with Finnish law. Sea Containers shareholding in Silja was increased to 75% in the second quarter of 2002 which will result in consolidation of Silja's assets and liabilities with those of Sea Containers at June 30th.