<![CDATA[Odfjell SE]]>
The first tranche will be NOK 400 million. The bond issue will have a tenor of five years and offers a coupon of 3 month NIBOR + 0.80%. The disbursement date is 17 March 2006.
 
An application will be made for a listing of the bond on the Oslo Stock Exchange.
 
DnB NOR Markets is appointed as the sole lead manager for the issue in the Norwegian bond market.
 
For further information about the bond issue, please contact DnB NOR Markets.
 
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Additional information about Odfjell is available at: www.odfjell.com ]]>