Nordic Shipholding — AGM Information 2007

Dec 19, 2007

To: OMX – Copenhagen Stock Exchange Stock Exchange Release 41-07 /19 December 2007

Nordic Tankers A/S

On 13 December 2007, the Board of Nordic Tankers A/S called an Extraordinary General Meeting of the company to be held in Copenhagen on 10 January 2008 at 15.00 hrs.

The Extraordinary General Meeting was requested by Steen Bryde with reference to the provisions in the company's Articles of Association that shareholders owning at least 10% of the company's share capital can request that such an Extraordinary General Meeting be called.

After having been in touch with Steen Bryde, the Board was of the clear impression that Steen Bryde had requested the Extraordinary General Meeting to be called for the sole purpose of being himself elected onto the company's Board which was also to be expanded from seven to eight directors. It was also the Board's clear impression that Steen Bryde had confirmed this. In deference to the wish for good working relations, the Board accordingly agreed with Steen Bryde that at the Extraordinary General Meeting, the Board would propose that it be expanded from seven to eight directors and that Steen Bryde should be elected as the eighth director.

However, several days after publication of the notice of meeting, Steen Bryde notified us that he did not acknowledge the content of the agenda item described above, but that he wished for the entire Board to offer to resign. With reference to the forthcoming strategy seminar in January 2008 at which inter alia the company's future strategy and management will be on the agenda, and with reference to the fact that it would be more natural to address any changes to the Board of Directors at the Annual General Meeting in April 2008, the Board has deemed it appropriate to postpone the election of the entire Board until the Annual General Meeting.

The Board of Directors does however, as a result of Steen Bryde's amended agenda item, feel bound to change the agenda for the Extraordinary General Meeting. Since it is not practicable to have a revised agenda sent out to the company's registered shareholders so as to be with them at least fourteen days before 10 January 2008, the Board feels compelled to cancel the Extraordinary General Meeting which was to be held on 10 January 2008 and to call a new Extraordinary General Meeting to be held on:

Monday, 21 January 2008

A new notice of meeting will be released via OMX Copenhagen and sent to the company's registered shareholders after the New Year.

It is the view of the Board that Steen Bryde has clearly broken his promises and that it will no longer be possible to establish trustful working relations with Steen Bryde.

The Board very much regrets this unintended course of events but hopes for understanding that the Board has found it necessary to act as described.

For further details please contact: Mogens Buschard T: (+45) 4581 0507 M: (+45) 4058 3343