• Q4 - Earnings Before Interest, Taxes, Depreciation and Amortisation (EBITDA) was NOK 23.0 million versus NOK 30.5 million in 2008. The reduction in EBITDA is mainly due to reduced charter rates for three car carriers were the tenor of the charters were extended in 2009.

• Q4 –Net profit before tax was a loss of NOK 59.7 million. Adjusted for impairment loss related to three of our vessels of NOK 39.4 million, and a write down of affiliated investments of NOK 13.2 million, the net profit before taxes in Q4 is reduced to a loss of NOK 7.1 million. (NOK -9.3 million Q4, 2008). The net profit before tax was also negatively impacted by an increase in depreciation from NOK 18.4 million in Q4 2008 to NOK 24.8 million in Q4 2009.

The Board of Eidsiva Rederi ASA has awarded a total of 690,000 stock options to 8 employees. The options have an exercise price of NOK 5.75, which represents the market price of the share. The options are in addition to the previously anno unced options awarded to CEO Lars Solbakken .

Highlights

• Earnings Before Interest, Taxes, Depreciation and Amortisation (EBITDA) for Q3 was NOK 25.4 million versus NOK 26.4 in 2008. Our Q3 EBITDA figure, adjusted for provisions, was 28.0 million.

• Accumulated EBITDA for the first nine months of 2009 was NOK 99.4 million versus NOK 80.1 million in 2008. Adjusted for provisions, our accumulated EBITDA figure, was NOK 102.7 million for this period.