Erik Thun AB are proud to announce that, due to a growing market in the Mediterranean area, we
have started a new marketing department in Barcelona. The subsidiary company Erik Thun España
S.L. was formed together with our partner Transbulk Shipping in Spain. The main task for Erik Thun
España is to market and position the Erik Thun Group on the bulk cargo market in the
Mediterranean. At the office in Barcelona, Tero Valtonen works with chartering.

See enclosed press release.