Sealift Applies for Listing on Oslo Stock Exchange

Sealift, the parent company of the Dockwise group of companies, intends to apply for a listing on the Oslo Stock Exchange. In connection with the intended listing, an offering of shares, consisting of both primary and secondary shares, is currently envisaged. The listing and share offering is expected to take place before the end of September 2007. The Company will be renamed Dockwise Ltd pending shareholder approval on 30 July 2007. The Company's shares are currently traded on the Norwegian OTC market with a market capitalization of NOK 5.3 billion.