COMPANY ANNOUNCEMENT Copenhagen, 20 May 2009 Company Announcement No. 14/2009 AGREEMENT ON SALE OF PASSENGER SHIP CANCELLED As announced on 12 May 2009 an agreement was entered into to sell the passenger ship QUEEN OF SCANDINAVIA to foreign interests subject to payment of a deposit by Friday 15 May 2009. The buyer has despite an extension not fulfilled the agreed terms on payment of deposit and the sale is therefore cancelled. QUEEN OF SCANDINAVIA was laid up after closure of the Bergen route in September 2008. From February 2009 and until mid May the ship has been employed as a hotel ship in Sweden. Opportunities to employ the ship for the remainder of 2009 will now be pursued. The cancellation of the sale agreement implies that the net investments expected for the full year will amount to DKK 1.3 billion instead of DKK 1.1 billion, which was a consequence of the sale.