Stock Exchange Release no. 59 Made public via OMX on 28 May 2009 Nordic Tankers A/S reported a profit after tax of USD 692,000 for the first quarter of 2009. Due to uncertainty about the market development for the rest of the year, the company revises its full year earnings outlook to between USD 0 and -5 million before any write-downs on vessels. The financial results for the first quarter were positively affected by a reversal of previously booked expenses relating to contracts and agreements entered into by the former Supervisory Board. A total of about USD 700,000 was reversed out of the USD 2 million provided for this purpose in the financial statements for 2008. Without this reversal, the first quarter would have shown a breakeven. The first three months of the year were strongly affected by the negative development of the global economy with falling freight rates throughout most of the period. After a brief improvement in the first half of February, the product tanker market was hit hard by the slow-down in global activity. The financial results reflect the weak tanker market and the low freight rates, and the Supervisory Board considers the financial results to be unsatisfactory. Because of the weak market development and great uncertainty about the development of the global economy, the outlook for the full year has been revised downward to be on the safe side. We now expect a full-year profit after tax of between USD 0 and -5 million before any write-downs on vessels. The previous outlook was for a profit after tax of between USD 0 and 3 million before any write-downs on vessels. After the extraordinary general meeting in February 2009, Claus Breitenbauch resumed his position of COO. On 30 April 2009, the Supervisory Board of Nordic Tankers appointed Jens Pontoppidan as new CEO with effect from 1 May 2009 in replacement of Flemming Krusell Sørensen, who resumed his position as Deputy Chairman of the Supervisory Board. As an element of the strategy “Rebound 2012”, which was presented at the general meeting on 23 April 2009, the company has established an operating office in Copenhagen (Tuborg Boulevard 12, DK-2900 Hellerup). The Executive and Supervisory Boards are still working on implementing the other elements of the strategy. For further information: Chairman of the Supervisory Board Klaus Kjærulff, tel.: +45 40 10 81 11