The Board propose that the AGM elects Stein Pettersen (51) and Laurence W. Odfjell (38) as new board members. Stein Pettersen is a Partner of the Norwegian law firm of Wikborg, Rein & Co. in Bergen. In 1993 Mr. Pettersen was appointed a Supreme Court Advocate. Laurence Odfjell has a Master of Architecture degree from Yale University. Currently, Mr. Odfjell is Commercial Director of Odfjell Vineyards S.A. in Chile and Group Project Manager for the privately owned Odfjell tank terminals in South America. Laurence Odfjell is the son of B. D. Odfjell jr., the Chairman of the Board.