1. Heading til presentasjonen kan settes inn inn her NORTH SEA PASSENGER AND FERRY CONFERENCE 09.10 2008 Destination Norway on a Danish, German and continental market and Fjord Line’s role there By Ingvald Fardal, President / CEO Fjord Line

4. Bergen-Stavanger-Hirsthals Both cargo and passenger segment Full year operation 3% market share Norway - EU 180.00 pax (105.000 from Norway, 75 000 from EU) 50.000 cars 15.000 trailers 170 employees Revenue approximately 25 MEURO

5. MS Bergensfjord 100% owned by Fjord Line Build: 1993 (Bruce Shipyards,Landskrona/Fosen Mek) Length: 134,5 meters Dead weight: 16.749 tonnes Engine: 2 * Wartsila 8ZA40S diesel Max speed: 19 knots Cabins: 207 (559 beds) Max #pax: 882 Lane meters: 720 (350 cars/ 150 cars & 45 trailers)

6. Kristiansand - Hirtshals Passenger segment Summer season only 4% market share Norway - EU 250.000 pax (170 000 Norwegian & 80 000 EU) 118/28 employees (hi/lo season) Revenue approximately 12,0 MEURO

7. Fjord Cat 100% owned by Fjord Line Build: 1998 (Incat Australia Pte Ltd., Hobart) Length: 91,3 meters Dead weight: 486 tonnes Engine: 4 * Ruston 20RK270 Max speed: 48.1 knots Seats: 674 + 26 Max #pax: 660 (The ship is certified for 900 pax, but this will require installments of more seats) Lane meters: 900 (220 cars & 4 busses)

8. The new Fjord Line “The preferred ferry partner to and from Norway” Vision Entering established monopolies and taking a clear number 2 position Low price profile Take part in further consolidation in the industry Cost efficient compared to the larger operators Business idea To be number 2 within the ROPAX segment between Norway and EU At least 15% market share between Norway and EU in the pax market At least 20% market share in the cargo market Main goals

9. Market Color Line is dominating with approx 70% market share from Norway to EU (65% from South-/West-Norway) The company is presently in the ropax market between South- /West- Norway and EU, which represents 30% of the total market from Norway to EU Steady growth in the passenger segment, 54.000 new passengers in yoy growth from 1990 Significant growth in the cargo segment, from approx 45.000 units in 2004 to 60.000+ units in 2006

10. Market from Norway to EU Source: Cruise & Ferry News 0 1000 2000 3000 4000 5000 6000 7000 1982198619901993199519971999200120032005 #Pax from Norway to EU #pax (1000)

11. Market from South- and West-Norway Steady growth in passenger market CAGR of 54.000 pax since 1990 Source: Cruise & Ferry News Pax from South-/West-Norway 0 200 000 400 000 600 000 800 000 1 000 000 1 200 000 1 400 000 1 600 000 1 800 000 2 000 000 19901992 199419961998 2000 2002 20042006 Pax |

12. Outlook European travel industry is in a steady growth phase Cargo and transport motivated market is expected to continue growing High growth in numbers of caravans and motor home vehicles sold in Norway and EU Restructuring opportunities still possible Market is non-cyclical, in periods of low economic growth, an increasing number of people will choose a cheaper form for holiday, compensating for the loss of cargo trasportation

13. Sales & marketing in EU Past Worked via General Sales Agents and Travel Agents Future, 2009+ Fjord Line sales office in Germany General Sales Agents and Travel Agents in other markets

14. Main marketing activities Advertising Web Catalogues Sales Promotion Public Relation Fairs Mischellaneous

15. Advertisement Consumers Primarily via Innovation Norway and Fjord Norway Group (Buss), touroperators Via partner catalogues Individual, touroperators Via partner catalogues

16. Web Fjordline.no Special designed web pages Partner web sites Banner advertising Links

17. Catalogue distribution Schedules & fares Previous customers & on request Products Previous customers & on request

18. Sales Promotion Roadshows Travel Agents and special interest groups (fishing, nature) Window-display Travel agents

19. Public Relation Press leases Travel industry media Special interest media Consumer media Study trips Co-operation Innovation Norway and Fjord Norway

20. Fairs Travel fairs ITB RDK Touristic Special interest fairs Fishing Hunting Nature and adventure

21. Miscellaneous Travel related membership associations RDA DNF VFF