Eimskipafélag Íslands hf. - Company Announcement

Eimskip engages TYC to evaluate strategic growth opportunities

Eimskip recently announced its strategy to seek opportunities to diversify its
operations by pursuing strategic acquisitions and investments in line with the
Company's vision of being the leading transportation Company in the North
Atlantic. 

To assist Eimskip in evaluating these opportunities, the Board of directors of
the Company has engaged The Yucaipa Companies (TYC) to provide certain
financial advisory services to the Company in relation to implementation of its
growth strategy. 

TYC has extensive investment experience having closed over 60 acquisitions
totaling over $35 billion. TYC structured and sponsored the financial
restructuring of Eimskip in 2009. TYC remain the largest shareholder of
Eimskip, holding 27% of the Company's outstanding share capital. 

The Company, its shareholders and TYC interests are all aligned to increase
shareholder value. 



Gylfi Sigfússon, President and CEO

“The Yucaipa Companies have been involved in the affairs of the Company since
2009. Yucaipa's knowledge of the Company and experience in complicated
international transactions will benefit the Company and its shareholders.” 



Further information

  -- Gylfi Sigfússon, President and CEO, tel.: +354 525 7202
  -- Hilmar Pétur Valgardsson, CFO, tel.: +354 525 7202
  -- Erna Eiríksdóttir, Senior Manager of Investor Relations, tel.: +354 825
     7220, email: investors@eimskip.is