1. LEIF HÖEGH & CO Welcome to presentation of Preliminary results 2002 14 February 2003

2. LEIF HÖEGH & CO STATEMENTS OF INCOME Preliminary results 2002

3. LEIF HÖEGH & CO BALANCE SHEETS Preliminary results 2002

4. LEIF HÖEGH & CO RESULTS 2000-2002 Preliminary results 2002

5. LEIF HÖEGH & CO OPERATING PROFIT BEFORE DEPRECIATION - PER SEGMENT Preliminary results 2002

6. LEIF HÖEGH & CO RESULT PER SHARE Preliminary results 2002

7. LEIF HÖEGH & CO CASHFLOW Preliminary results 2002

8. LEIF HÖEGH & CO CASHFLOW PER SHARE Preliminary results 2002

9. LEIF HÖEGH & CO Strategy The strategy has been further implemented in 2002 and is paying off…  Operating results developed satisfactory for core segments Ro/Ro and LNG  We see growth opportunities in Ro/Ro and LNG and have established a basis for growth taking positions in 7 new Ro/Ro vessels and 2 new LNG vessels  The financial position of LHC is solid and was further strengthen in 2002.  LHC is positioned in less volatile segments (Ro/Ro and LNG) for which:  Entry barriers are considered high: LHC’s business is based on high level competence, knowledge based systems and logistics solutions and long term freight contracts and customer relations.

10. LEIF HÖEGH & CO Highlights 2002  Important long term contracts were concluded with solid partners –Airbus: transportation of aeroplane parts for minimum 20 years –Statoil and Snöhvit Seller Group: LNG transportation contract for minimum 20 years –TotalFinaElf: LNG transportation contract in minimum 20 years  Capacity growth –Kiwi Car carriers developed positively in its first year in operation within HUAL (POVs to NZ) –HUAL’s Ro/Ro capacity increases in 2003 with 3 large PCTCs taken on charter up to 10 years –3 + options PCTC (6100 ceu) ordered from Daewoo for delivery in 2005 –1 Ro/Ro for Airbus ordered from Jinling for delivery in 2004 –2 LNG vessels (145 000 m3) ordered from Mitsubishi HI  The strategy was further implemented –The commercial operation of open hatch was transferred to Saga Forest Cariers –3 reefers were sold (one for delivery 1st quarter 2003)

11. LEIF HÖEGH & CO E N D