Viking Supply Ships

Earnings Release • Oct 28, 2010

Interim report January‐September ²⁰¹⁰

January ‐ September 2010

• Net revenues amounted to SEK 1,754 M (1,725)
• Profit before tax amounted to SEK 663 M (loss: 135)
• Profit after tax amounted to SEK 836 M (loss: 105)
• Earnings per share amounted to 29.30 SEK (loss 3.80)

Third Quarter 2010

• Net revenues amounted to SEK 593 M (549)
• Profit before tax amounted to SEK 778 M (loss: 53)
• Profit after tax amounted to SEK 795 M (loss: 38)
• Earnings per share amounted to 26.30 SEK (loss: 1.40)
• Profit for the quarter was positively impacted by SEK 775 M by the acquisition of the joint venture companies within Offshore/Icebreaking Business Area.
• As a result of the new share issue, the Norwegian company Kistefos became the new majority shareholder.
• At the Extraordinary General Meeting held on September 22, Christen Sveaas was elected new Chairman of the Board.
• Stefan Eliasson was appointed as President and CEO

The third quarter was an eventful period for TransAtlantic. This was mainly because we carried out the largest transaction in the company's history when we acquired the outstanding shares in the joint‐ venture company Trans Viking, which we owned together with Viking Supply Ships AS in the Offshore/Icebreaking business area. The transaction strengthens the bottom line of TransAtlantic's balance sheet and its cash and bank balances, and provides the business area with a more transparent structure. The transaction also provides Transatlantic with the necessary prerequisites to develop its future offshore strategy and meet the exacting requirements imposed on us by customers with respect to the environment and safety activities.

While the acquisition of Trans Viking is of major significance to the Group, our positive earnings trend is also well worth noting. For the first time since 2008, the Group reported a positive interim result. Although the earnings level remains too low, it demonstrates a positive trend compared with the preceding quarter and year. The main reason for this improvement was that all offshore vessels were leased at profitable levels and that we reduced our costs in the RoRo Baltic and Atlantic divisions of the Industrial Shipping business area.

Stefan Eliasson President and CEO

Press conference

In conjunction with the publication of the Interim report January – September, a teleconference will be held with media, investors and analysts on Thursday, October 28, at 09:30, am with CEO Stefan Eliasson and CFO Ola Helgesson. Those who wish to participate in the telephone conference call, please call +46 8 23 23 90, code 892 111

This interim report is available in its entirety on the company website, www.rabt.se.