Solvang ASA and Neu Gas Shipping Corp Ltd have established International Gas Carriers AS ("IGC") as a new company that will be responsible for the commercial operation of the two groups' fully ref LPG vessels. Ownership and technical operation of the vessels will remain with the two partners.

 

IGC is headed by Ola Solheim as General Manager and Head of Chartering and will be located in Oslo.

 

Press release is enclosed.

 

Stavanger 14th of May 2008

Solvang ASA

 

Contact person: Mange Morken +47 9083 6618