TRADING ANNOUNCEMENT


On 27 February 2002, Board Member Peter G. Livanos sold 6,300 A-shares in Odfjell ASA at an average price of NOK 141.00 per share.

After this sale Peter G. Livanos owns 6,200 A-shares in Odfjell ASA. Furthermore, ChemLog ApS, a company related to Peter G. Livanos, owns 3,798,774 A-shares and 1,479,673 B-shares on Odfjell ASA.