NORD FIGHTER

Disposals from Eitzen and Norden
SITEAM LEOPARD and NORD FIGHTER leave respective fleets...

Eitzen Chemical has reached an agreement to sell the 46,000 dwt SITEAM LEOPARD, built in 1985. The delivery is expected to take place during the second quarter of 2008. The Company expects to book a loss of approximately USD 1.0 mill. from the sale.

Eitzen Chemical ASA's fleet will after this sale consist of 105 vessels, whereof 62 vessels are owned or financially controlled, 26 newbuildings and 17 pool vessels.

Meanwhile NORDEN has agreed to sell the Handymax bulkcarrier NORD FIGHTER. The gross sales price amounts to USD 72.75 million.

NORD FIGHTER, 52,000 dwt, was built in 2004 and is expected to be delivered to the new owner during the third quarter of 2008, when the profit from the sale of approximately USD 53 million after tax will be recognised.

In the beginning of April, the Company had an active fleet of 212 vessels, with 90 more vessels due for future delivery.