<![CDATA[Odfjell SE]]>
time-charter results 19% higher in 2005
compared to 2004
* Time-charter results in fourth quarter 2005
were about 3% higher than third quarter 2005
* Further USD 8 million provision for
customer settlements
* Still very high bunker cost
* Stable result from tank terminal activities
* Tax cost of USD 12 million due to write-off
of deferred tax assets
]]>Attached please find 4th Quarter report 2005