26/8-2003

Friday September 19, 2003 ShipTech moves its office from its current location in Horsholm to Hellerup.

From that day ShipTech’s post and visitor address is:

Street: 24 Ehlersvej

City: Hellerup

Zip code: 2900

Telephone and fax numbers remain unchanged.

E-mail and website addresses remain unchanged.

The new ShipTech office is located just 5 km north of the city centre of Copenhagen and within 6 minutes walking distance from the train station Hellerup. The trains are calling Hellerup Station at least every 20 minutes and run to Copenhagen Central Station (16 minutes), Copenhagen Airport Kastrup (29 minutes) and Malmo Sweden (51 minutes).

With the office move ShipTech will be closer to its customers and its colleagues in Copenhagen and the accessibility for customers using flight and train is made easier.

At the same address the engineering company LIC Engineering A/S has its office. LIC Engineering specialises within offshore engineering and advanced hydrodynamic and structural analyses. For further information about LIC Engineering please visit their web site: www.liceng.dk