MORTENSEN STEPS DOWN AS CEO

Tom Even Mortensen has been leading a company that since 2000 has grown from a shipping derivatives exchange into a leading integrated marketplace and clearinghouse for commodity derivative markets.

From its shipping basis, IMAREX NOS has expanded both organically and through structural transactions into areas like clearing, fish exchange, power, carbon and oil brokerage services, and commodity market analysis. IMAREX NOS today shows solid profits and a balance sheet supporting the company`s growth ambitions.

"The company has come a long way and we are in our best shape ever. IMAREX started as a small group of skilled and enthusiastic people, and has become a large and professional organisation with good market positions. This is a solid platform to take the business to the next level", comments Tom Even Mortensen.

Chairman of the Board, Leiv Askvig, comments:

"IMAREX NOS is a success story. As much as we regret Tom Even Mortensen`s decision to step down we appreciate the work he has done and the achievements the whole IMAREX NOS organisation has made. The company is well established and in a good position to reach its ambitions", says Leiv Askvig.

Herman Michelet founded IMAREX in 2000 and has been instrumental in the overall commercial and structural development while he has been leading the company`s shipping and freight market operations. Tom Even Mortensen will work for the company for a period on projects and to secure a good transition of the ongoing business.

"Herman has been very active in making IMAREX NOS what it is today, and the Board is confident that he and the rest of the organisation will continue this positive development", says Leiv Askvig.

For further information please contact:

• Leiv Askvig, Chairman, +47 920 604 64
• Herman Michelet, +47 982 29 651
• Tom Even Mortensen, +47 982 29 650