May 10, 2005

Maersk in merger talks with P&O Nedlloyd

Trading in shares of Royal P&O Nedlloyd on the Amsterdam Euronext exchange was suspended for a time this morning as a result of speculation about an offer by A.P. Moller Maersk.

Trading resumed after a statement was issued saying:"P&O Nedlloyd notes the recent rise in its share price and speculation as to a possible offer by A.P. Moller-Maersk for Royal P&O Nedlloyd. P&O Nedlloyd hereby informs that it is in discussions with A.P.-Moller-Maersk regarding a possible combination of the companies. There can be no certainty as to whether these discussions will result in an offer being made by A.P.-Moller-Maersk for Royal P&O Nedlloyd. Further announcements will be made as appropriate."

A.P. Moller Maersk then issued a statement confirming that discussions are taking place with Royal P&O Nedlloyd about a "possible combination of the companies."

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