IMAREX acquires NENA AS

International Maritime Exchange ASA (OSE: IMAREX) has today agreed to acquire all the outstanding shares in NENA AS, an Oslo based research firm specialising in European Power and CO2 emissions.

NENA has a significant market analysis competence and will rapidly expand its footprint into the key related commodity markets which drive the global freight markets such as coal, oil, fuel and gas.

Tom Even Mortensen, Managing Director of IMAREX says of the transaction: “The synergies between NENA’s current analysis portfolio and what our shipping markets need to know, are significant. They instantly bring a new level of intelligence and a "new twist" to the IMAREX freight market, which we will use to enhance our service to members of the exchange. They have the most experienced and competent team in the market, and we are very proud that they will be a part of our new organisation.“

IMAREX is buying NENA for NOK 14 million in a combination of cash and shares. To ensure continuity and growth of NENA's market position, an additional consideration will be made based on the acquired company's future sales and profits. In 2005, NENA had revenues of NOK 9.4 million and a net profit before tax of NOK 1.7 million. NENA has 9 employees.

"Together with IMAREX, NOS and M3 we have a lot of common customers among the world's largest power generators, commodity traders and banks. Together we will have a much greater reach into different commodity markets and we will be able to offer a wider and very exciting portfolio of research, trading and clearing products,” says Christian Sjødin, Managing Director of NENA.

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. Then Imarex expanded into power and emissions by acquiring M3, a leading Nordic electricity and emissions brokerage. NENA will complement and further strengthen this latest strategic move into the power and emissions market.

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

Please download the statement here:

For more information, please contact:

• Tom Even Mortensen, Managing Director IMAREX tel: +47 2389 4222 
• Christian Sjødin, Managing Director, NENA tel: +47 6710 2240

About NENA:

NENA offers analysis and services related to the power and emission markets such as price forecasting, fundamental market analyses and project assignments. NENA was founded February 1997 and is a major supplier of objective and independent analyses.

Customers include producers, distributors, power intensive industry, merchant banks and traders throughout Europe.

All models are developed in-house and NENA`s analyses and price forecasts are well recognised and have been subject to continuous judgement by professional traders and analysts for almost 10 years. NENA has 75 man-year of experience analysing the European power and emission markets.

For more information please visit: www.nena.no