Svithoid Tankers in negotiations in order to secure financing and continued operations

Svithoid Tankers in negotiations in order to secure financing and continued
operations

As a consequence of Svithoid Tankers AB (publ) ("Svithoid Tankers") immediate
liquidity shortage, the company presently lacks the ability to perform under its
undertakings. Therefore, the company is involved in negotiations with its
creditors, bond holders, convertible bond holders and shareholders with the aim
to find a long term solution in order to secure the company's financing and the
continued operations of the business. There is a risk that Svithoid Tankers will
be unsuccessful in finding such a solution. The outcome of such discussions may
also result in the loss of value of shares currently held by the company's
shareholders. Svithoid Tankers intends to present additional information as soon
as the ongoing discussions have been finalized.


For further information please contact:

Svithoid Tankers AB 
Fredrik Nygren, Managing Director
Tel:+46 8 546 999 42
Mob: +46 70 972 25 81
E-mail: fredrik.nygren@svithoidtankers.com

Svithoid Tankers may be required to disclose the information provided herein
pursuant to the Swedish Securities Markets Act and/or the Swedish Financial
Instruments Trading Act. The information was provided for public release on
Friday October 10, 2008 at 08.30 a.m. Swedish time.