Odfjell Holdings (US) Inc has concluded a contract for land in North Charleston
to construct tank terminal facilities creating 12-20 jobs.

The new tank terminal site in Charleston will consist of 40 tanks with excellent
deep draft marine, rail and truck accessibility. -This will be a great
supplement to our existing terminal in Houston and our worldwide tank terminal
network. When combined with our shipping network the new facility will provide
additional distribution options for our customers delivering more efficiency to
their supply chains, says Dave Ellis, President Odfjell Terminals (Houston).

The construction of the tank terminal will start in January 2011, and will be
operational early 2013. Fully developed the investment will be about USD 37
million.

For more information please contact;
Jan Hammer, President/CEO Odfjell SE on +47 55 27 00 00 or
email:jan.hammer@odfjell.com
Dave Ellis, President Odfjell Terminals (Houston) on +1 713 844 2330 or e-
mail:dave.ellis@odfjell.com

Odfjell SE
The Odfjell Group is a leading participant in the global market of seaborne
transportation and storage of chemicals and other speciality bulk liquids. The
Odfjell fleet comprise about 90 ships, trading both globally and regionally. The
tank terminal division consists of nine fully or partially owned tank terminals
and nine associated tank terminals strategically located. The Odfjell Group is
headquartered in Bergen, Norway and has more than 20 offices world wide. Odfjell
has about 3 800 employees and an annual gross revenue of about USD 1.3 billion.

Odfjell Terminals
Odfjell has fully owned tank terminals in Rotterdam and Houston, partially owned
terminals in Singapore, Korea, Oman and three in China. In total, the Odfjell
Terminals network employs more than 1000 people and currently offers more
than 3.7 million m3 of storage space or about 700 tanks in nine ports around the
world. Odfjell Terminals' main office is in Rotterdam. In 2009 Odfjell Terminals
generated a turnover of USD 247 million. Odfjell also works closely with ten
terminals in South America and one in Canada through associated companies (0.7
million m3 storage space, 460 tanks). Odfjell Terminals BV is a subsidiary of
Odfjell SE.

This information is subject of the disclosure requirements acc. to §5-12 vphl
(Norwegian Securities Trading Act)

[HUG#1474167]

Odfjell to construct new terminal facility in Charleston, South Carolina