Report for the first quarter of 2010 for Oppstartsfase I ASA

The total income for Oppstartsfase I ASA (to be

renamed Wilh. Wilhelmsen ASA after the completion of

the restructuring) totalled USD 419.3 million for the

first quarter of 2010 compared with USD 383.9 million

for the similar period in 2009 according to the

proportionate method (note 10). (Figures for the

corresponding period of 2009 will hereafter be shown

in brackets.)

The group posted an operating profit of USD 22.1

million (USD 15.2 million), while the group's loss

before tax and minority interest was USD 14.8 million

(profit of USD 21.9 million).

The loss after tax and minorities for the group

amounted to USD 5.5 million (profit of 25.0 million).

For further information regarding the restructuring,

please visit www.wilhelmsen.com

This information is subject of the disclosure

requirements acc. to §5-12 vphl (Norwegian Securities

Trading Act)

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