3 May 2010

AS Pakterminal, currently a daughter company of AS Vopak E.O.S. - the largest independent tank terminal operator in the Baltics - will be merged to Vopak E.O.S.; the change is expected to be effective in the middle of May.

Full integration of the terminal enterprises will provide the customers of Vopak E.O.S. with enhanced level of services, facilitate and streamline all the conducted operations and has an input in the company’s competitiveness in the logistics market.

The merger would also simplify the legal and financial structure of Vopak E.O.S. and contribute to the efficiency of company operations. This step concerns the matters of the company representation, legal status and internal departments’ structure. All Pakterminal employees will continue working at Vopak E.O.S.’, said Arnout Lugtmeijer, Chairman of the Board of Vopak E.O.S.

Pakterminal, founded in 1992 and acquired by Vopak E.O.S. in 2008, operates at Muuga Port a terminal with 33 tanks and total capacity of 303,000 cbm for dark and light products. By incorporating Pakterminal Vopak E.O.S. has substantially increased range of provided services, such as expansion of the capacities and a variety of the handled products, availability of additional own berths with an ability to accept various sizes vessels etc. and finally introducing one more modern facility in the own terminalling network. These all developments were reflected in the company’s following successful performance.

Lugtmeijer added that Pakterminal has historically been in the forefront of developing Estonia as the region’s logistics hub for the oil products, in recent years as a part of Vopak E.O.S. ‘The objective of Vopak E.O.S. is to strengthen the company’s position globally and attract more customers to Estonia to benefit from professional logistics and terminalling services of a reliable partner by continuously improving services’.

Vopak E.O.S. Ltd. is the largest independent tank terminal operator in the Baltic region that provides the customers with a very wide range of services in the area of handling, terminalling, throughput and storage of oil products. Vopak E.O.S. Ltd. operates three modern terminals - Termoil, Trendgate and Pakterminal - with a total storage capacity of 951.000 cbm. The terminals are situated in a strategic and easily accessible location of the Port of Muuga, close to the Estonian capital Tallinn at country’s northern shore. The proximity of Russia and the infrastructure of the Port of Muuga enable Vopak E.O.S. to offer excellent opportunities for sea transportation of liquid fuels from Eastern Europe to Western Europe, America and Southeast Asia. The terminals have direct connection to Estonian Railways and Russian Railways. Additionally, all railway operations and logistics are managed by a wholly owned subsidiary, railway company E.R.S. Vopak E.O.S. is a joint venture established by Dutch company Royal Vopak and Russian Global Ports.

For additional information:

Olga van Kampen
AS Vopak E.O.S.
tel. +372 626 6100
e-post: olga.vankampen@vopakeos.com