2003-12-29

Godby Shipping and SCA Transforest have made a one year time-charter agreement for mv Link Star. The vessel will be employed in SCA's traffic between Holmsund in the north of Sweden and Dublin in Ireland from February 2004. The cargoes will be paper, timber and other forest products.

We see the new contract as long term and strategically important since it is our aim to have contracts directly with the forest industry. As a result of the contract with SCA we have broadened our customer base and got a foothold on the Swedish market.

For additional information, please contact Dan Mikkola, Godby Shipping, phone +358-18-41121 or Magnus Svensson, SCA, phone +46-60-193 500.

Yours faithfully,

GODBY SHIPPING AB

Dan Mikkola