HELLERUP, Denmark, April 25 /PRNewswire-FirstCall/ -- TORM has entered into an agreement to sell the Panamax bulk carrier TORM Marlene (built in 1997). The vessel has been sold for a total consideration of USD 70 million and is expected to be delivered in May 2008.As a result of the sale, TORM adjusts the guidance for the 2008 result before tax to USD 250-270 million from the previous forecast of USD 210-230 million. The sale of the vessel is a consequence of the Company's strategy "Greater Earning Power 2.0" according to which older vessels are sold as part of the planned fleet renewal in the Bulk Division. Following the sale of the vessel, TORM's owned fleet consists of 56 product tankers and 6 dry bulk vessels. About TORM TORM is one of the world's leading carriers of refined oil products as well as being a significant participant in the dry bulk market. The Company operates a combined fleet of 128 modern vessels, principally through a pooling cooperation with other respected shipping companies who share TORM's commitment to safety, environmental responsibility and customer service. TORM was founded in 1889. The Company conducts business worldwide and is headquartered in Copenhagen, Denmark. TORM's shares are listed on the Copenhagen Stock Exchange (ticker TORM) as well as on the NASDAQ (ticker TRMD). For further information, please visit http://www.torm.com/. Safe Harbor Forward Looking Statements Matters discussed in this release may constitute forward-looking statements. Forward-looking statements reflect our current views with respect to future events and financial performance and may include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements, which are other than statements of historical facts. The forward-looking statements in this release are based upon various assumptions, many of which are based, in turn, upon further assumptions, including without limitation, Management's examination of historical operating trends, data contained in our records and other data available from third parties. Although TORM believes that these assumptions were reasonable when made, because these assumptions are inherently subject to significant uncertainties and contingencies which are difficult or impossible to predict and are beyond our control, TORM cannot assure you that it will achieve or accomplish these expectations, beliefs or projections. Important factors that, in our view, could cause actual results to differ materially from those discussed in the forward looking statements include the strength of world economies and currencies, changes in charter hire rates and vessel values, changes in demand for "tonne miles" of oil carried by oil tankers, the effect of changes in OPEC's petroleum production levels and worldwide oil consumption and storage, changes in demand that may affect attitudes of time charterers to scheduled and unscheduled dry-docking, changes in TORM's operating expenses, including bunker prices, dry-docking and insurance costs, changes in governmental rules and regulations including requirements for double hull tankers or actions taken by regulatory authorities, potential liability from pending or future litigation, domestic and international political conditions, potential disruption of shipping routes due to accidents and political events or acts by terrorists. Risks and uncertainties are further described in reports filed by TORM with the US Securities and Exchange Commission, including the TORM Annual Report on Form 20-F and its reports on Form 6-K.Forward looking statements are based on management's current evaluation, and TORM is only under obligation to update and change the listed expectations to the extent required by law. DATASOURCE: A/S Dampskibsselskabet TORM CONTACT: Contact: A/S Dampskibsselskabet TORM, Telephone: +45-39-17-81-01, Tuborg Havnevej 18, Mikael Skov, COODK-2900 Hellerup Denmark

Copyright