Odfjell Partners Ltd ("OPL") has resolved to demerge and as a consequence OPL's
shareholding in Odfjell Technology Ltd ("OTL") will be transferred to Odfjell
Technology Holding Ltd ("OTHL"). The current shareholders in OPL, being Helene
Odfjell and certain of her closely related persons each holds the same number of
shares in OTHL as they hold in OPL today. Consequently, there will be no changes
to the indirect shareholders in OTL as result of the transfer of the shares in
OTL from OPL to OTHL.

The creditor notice period for the demerger and subsequent liquidation of OPL
lapsed today and there are no outstanding conditions for completion of the
transfer of the shares from OPL to OTHL. The actual transfer of shares will take
place as soon as possible after OTHL has opened a securities account with the
Norwegian CSD, Euronext Securities ("VPS"). 

Following the transfer of the shares, OTHL will hold 23,825,396 shares in OTL,
equal to 60.37 % of the shares and votes in OTL, while OPL will not hold any
shares or rights to shares in OTL.

Oslo Børs, in its capacity as takeover supervisory authority, has resolved to
grant an exemption pursuant to the Norwegian Securities Trading Act section 6-2
(3) for the transfer of shares in OTL from OPL to OTHL.

Please find details about the transfer in the attached notification forms.

This information is subject of the disclosure requirements pursuant to sections
5-12 and 4-2 of the Norwegian Securities Trading Act, as well as MAR Article 19.