IMAREX ACQUIRES M3 - the No.1 broker in the Nordic Power Market

Oslo, 11 May 2006 - International Maritime  Exchange ASA (Oslo Børs: IMAREX) has agreed to  acquire all the outstanding shares in leading Nordic electricity broker M3.

IMAREX is buying M3 for NOK 25 million (USD 4.2  millon) in cash. To ensure continuity and growth  of M3's market position, an additional consideration will be made based on the acquired  company's future sales and profits.

In 2005, M3 had revenues of NOK 13.8 million and  a net profit before tax of NOK 6.5 million.

IMAREX recently announced a merger of ownerships  with the Norwegian futures and options clearing  House (NOS). The new organisation created by  that merger becomes the strongest and most  focused combination of market place and clearing  services to the freight derivatives market.

The merged company aims to grow both market  place services and clearing for multi-commodity  markets, in order to build a leading European commodity market. As a result, the new organisation will resolutely invest in different commodity markets where freight plays a key role in the commodity chain, either directly as in oil products and coal, or indirectly in the
electricity and emissions markets.

Tom Even Mortensen, Managing Director of IMAREX says: 'M3 is the leading brokerage house in the Nordic Electricity market with an estimated 32% of the OTC market. M3 has the most experienced and competent brokers in this market, and we are very proud that they will be a part of the new organisation. They instantly bring a new stream of business and revenues to IMAREX.'

M3 consists of 7 brokers working both futures and options in the Nordic and European electricity market. The company counts many of the largest power generators, commodity traders and banks among its customers.

M3 is recognized to be particularly strong in the options market and have a long track record for its placing power of large deals. The company has recently entered the emissions market to position itself for strong growth based on the same qualities that have provided the company success in the electricity market.

'We've built a strong position in Nordic power, and IMAREX is the leader in freight. Our ambition is to give our power and emissions customers the opportunity to trade the whole commodity chain - one shop one stop. It's a wonderful opportunity for us,' says Managing Director of M3, Bengt Staveland.

The new group has a large number of common customers and will through client relationships, trading technology and settlement
infrastructure, be able to offer a superior service to a wider range of clients.

'We are aiming to grow both our market place services and clearing for many different commodities which are linked by freight or affected by price links in the commodity chain - all leading to the creation a leading European commodity market place,' adds Mortensen.

The transaction will be concluded as soon as possible pending regulatory approvals from the relevant authorities.

For more information, please contact:

• Tom Even Mortensen, Managing Director IMAREX tel: +47 2389 4222
• Bengt Staveland, Managing Director M3 tel: +47 9112 6572

About M3:

M3 is an independent brokerage house in the Nordic Electricity Market, established in 1997. The company was bought by Automated Power Exchange (APX) in 2001.

In 2004 M3 was bought back by its employees. M3 Nordic AS, a 100 % subsidiary of M3 Holding AS was established in May 2004.

For more information please visit: www.m3kraft.no and www.m3nordicpower.com