EAC Invest - AGM Information 2011

EAC will celebrate its Annual General Meeting today, 24 March 2011, and in
connection with the presentation of the annual report there will be a minor
adjustment to the outlook for 2011 following the acquisition of the Venezuelan
food company Montserratina, which is included in EAC's accounts as of 16 March
2011. For EAC Foods, EAC now expects revenue of above USD 800m versus
previously around USD 800m with an unchanged EBITDA margin of around 8.5 per
cent. For the EAC Group, EAC now expects revenue of around DKK 6.0 billion
versus previously around 5.8 billion. The EBITDA margin of around 8 per cent
remains unchanged.

At the Annual General Meeting, EAC will also present its updated strategy for
the next five years. The strategy contains the following main elements:

EAC strategy towards 2016

EAC's activities are based on its two businesses, EAC Moving & Relocation
Services and EAC Foods each with their own strong brands such as Santa Fe and
Plumrose. EAC believes that both businesses have attractive potential for
growth and value creation when taking into consideration their market leading
positions, rising demand for their products and good possibilities of expansion
on existing as well as new markets.

The overriding aim of EAC is in the course of the coming years to develop both
businesses into strong and independent businesses; each with a size and scale
sufficient to attract international investors and to become independent, listed
companies.

As always, the growth strategy is based on EAC's fundamental objective: to
create maximum shareholder value. The financial strength of the Group,
international governance standards and experienced management create the ideal
foundation for the realisation of the strategy.

Financial objectives and capital structure

It is EAC's aim to achieve double-digit organic growth in local currencies.

This growth will be accelerated through value-adding acquisitions that
strengthen the business foundation, competitiveness and geographic coverage in
the two businesses.

Acquisitions may temporarily affect the operating margin of the businesses, but
the overall objective is to maintain solid earnings from the Group's activities
and an attractive return on the invested capital.

EAC continuously seeks to optimise its capital structure in order for the
equity and the financial gearing to be adapted to the Group's activities and
risk profile while ensuring adequate flexibility for further development of the
Group.

In the coming years EAC will focus on long-term value creation by strengthening
the market value of the Group. Consequently, the Supervisory Board regularly
reviews the dividend policy in relation to the strategic development of the
company, capital requirements and value creation.

Strategy of EAC Moving & Relocation Services

The strategic objective of EAC Moving & Relocation Services towards 2016 is to
significantly strengthen the company's market leading position within
integrated mobility management, focusing on relocation services and records
management.

The continued globalisation of businesses, increased investment in new growth
regions and growing demand for integrated, high-quality solutions are strong
and positive market forces that EAC Moving & Relocation Services intends to
take advantage of in the strategic development of the business.

The international market for moving and relocation services is characterised by
few global suppliers supplemented by a very fragmented field of national and a
few regional players. Continuously increasing demands for and expectations to
complete solutions of high quality and certainty of service delivery is raising
the competitive barrier for the benefit of strong international suppliers like
EAC Moving & Relocation Services.

The continued consolidation and development of the business will be implemented
through further improvement and expansion of the company's service and quality
concepts combined with an accelerated, geographic expansion in existing and new
regions. The geographic expansion will be organic, but also through an active
acquisition strategy focused on established companies with experienced
management teams and well-functioning operating organisations which supplement
the existing business activities. The expansion will primarily be driven by
customer requirements with regard to geography as well as services.

The acquisition of WridgWays in Australia at the end of 2010 represents the
first large step in the geographic expansion of the business.

There are no plans for expansion into North America as this market is covered
by a strong network of business partners.

Strategy of EAC Foods

It is the objective of EAC Foods during the plan period to further expand its
market-leading position based on the unique market knowledge and effective
management of market challenges, strong brands, efficient production and a
product quality of international standard are the primary competitive
resources.

The geographic focus is primarily aimed at the Venezuelan market for quality
foods with the company being the undisputed market leader. The demand for
high-quality foods is continuously expanding, and the company's launch of new,
innovative products contributes to further drive this growth.

In the coming years EAC Foods will increase growth through targeted development
of new products and expansion of the production capacity through continuous
investments and strategic acquisitions that can supplement the existing
business platform.

At the same time EAC Foods wants to drive growth further by including new
categories within complementary, processed meat products and other foods. This
will be done through expansion of the product portfolio or through external
partners where synergy can be achieved with regards to production, sale and
distribution of e.g. meats, diary products, frozen and finished goods. The new,
national distribution centre with variable cooling and freezing facilities and
a unique country-wide chilled distribution network effectively supports this
strategy.

The acquisition of the food company, Montserratina, on 16 March 2011
strengthens EAC Foods' market position and the product portfolio with a number
of new specialty products, and it adds increased capacity in modern production
facilities. This acquisition is a demonstration of the growth strategy, and EAC
Foods will during the plan period continue to look for additional value-adding
acquisitions in Venezuela.

The expansion in Venezuela will be financed by EAC Foods' own, strong cash
flows with the intention to develop the company into a larger and potentially
independent food manufacturer in the region with visible and attractive value
creation.

The economies in Latin America continue to grow, and as a consequence the
possibilities for geographic expansion are increasingly attractive. EAC Foods
will continuously analyse these possibilities in order to further expand the
business through cooperation agreements or potential acquisition of trademarks,
production facilities, commodity supply etc. in adjacent geographies where
synergies can be achieved in relation to the business in Venezuela.

Yours sincerely,

The East Asiatic Company Ltd. A/S

For additional information, please contact:

President & CEO Niels Henrik Jensen

+45 3525 4300

[email protected]

Group CFO Michael Østerlund Madsen

+45 3525 4300

[email protected]