Atnaujinta: 2024.03.29 16:08 (GMT+2)

TAL: Ordering new vessel

2005.12.19, Tallink Grupp, TLN
AS Tallink Grupp                Stock Exchange Release                  19.12.2005

Ordering new vessel

AS Tallink Grupp decided to use the rights derived from the option agreement of
the cruise ferry Galaxy currently in construction. In reference to the above the
Finnish shipyard Aker Finnyards OY and AS Tallink Grupp signed a shipbuilding
contract on 17.12.2005. According to the contract the new cruise ferry, sister to
the Galaxy, will be delivered by summer 2008. By most of the details the new
cruise ferry ordered will be similar to the Galaxy which will be delivered in
spring 2006 although with a speed of 24.5 knots the new cruise ferry will be
faster than Galaxy which has speed of 22 knots. The price of the new ferry is
approximately EUR 165 million of which 20% will be paid during the construction
period and 80% will be paid on delivery. Similarly to the previous ferry orders
of Tallink the payments during the construction are planned to be financed from
the own equity and the majority, which is to be paid on delivery, will be
financed by long time debt.

The qualities and the speed of the new cruise ferry will make the vessel suitable
for operation on all of the routes in the Northern Baltic Sea (including Helsinki-
Stockholm, Riga - Stockholm, Tallinn - Stockholm, Helsinki - Tallinn - St.
Petersburg, Tallinn-Helsinki etc.). To take into consideration the different
possibilities of the market development during the next 2.5 years when the ferry
is being built AS Tallink Grupp does not want to assure in more detail the route
that will be operated by the new cruise ferry. There are possibilities for many
scenarios both on the current routes as well as on the potential new routes
including the replacing of some of the current vessels and the further switch of
the rest of the fleet between the routes resulting from this.

We believe that we can improve the range and quality of the services offered to
our passengers and that we can further strengthen the competitiveness of Tallink
with the new cruise ferry ordered.


Management Board of AS Tallink Grupp


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