ESA INVESTIGATION


Today at approximately 1000 hours, representatives from the EFTA Surveillance Authority (ESA) came unannounced to the offices of Odfjell ASA for an investigation.

ESA will investigate whether there has been of any breach of article 53 of the EEA agreement or article 81 if the EC Treaty.
 
Odfjell ASA takes this investigation seriously and will cooperate fully with ESA to facilitate their work so that the investigation can be completed as soon as possible.
 
Any questions related to this issue should be directed to Jarle Haugsdal in the travelling absence of CEO Bjørn Sjaastad.
 
Bergen 19.02.03
 
Odfjell ASA
 
B.D. Odfjell jr.
Chairman of the BOD