Marine Log

October 10, 2006

Grimaldi plans Finnlines takeover

After a share purchase carried out today Grimaldi Group companies hold in aggregate 18,807,034 shares in Finnlines Plc (Finnlines), representing 46.2 per cent of all shares and votes in Finnlines.

Grimaldi Compagnia di Navigazione S.p.A. (Grimaldi), part of Grimaldi Group, says it is planning to make a voluntary offer for the remaining shares of Finnlines pursuant to the Finnish Securities Market Act.

Grimaldi says the planned voluntary offer period will begin before the end of October 2006 and it will last approximately five weeks. The consummation of the planned voluntary offer will be conditional to consents and approvals from authorities and other similar bodies, including consents from relevant competition authorities.

As consideration in the planned voluntary offer Grimaldi will pay EUR 15.95 per share in cash for each share in Finnlines. The offer price equals the highest price per share paid by Grimaldi Group companies for the shares in Finnlines within the past six months. The consideration is approximately 7.7 percent above the 12-month volume weighted average price of the Finnlines share during the period 10 October 2005--9 October 2006.