A/S Dampskibsselskabet TORM: Decision to Distribute Interim Dividend

Announcement No. 27 - 2008

• Press Release
• Source: A/S Dampskibsselskabet TORM
• On Wednesday December 17, 2008, 2:45 am EST

COPENHAGEN, Denmark, Dec. 17, 2008 (GLOBE NEWSWIRE) --

                                                    17 December 2008

Decision to distribute interim dividend

At a Board meeting held today, the Board of Directors of A/S Dampskibsselskabet TORM decided to exercise the authorisation under article 3.8 of the Articles of Association adopted pursuant to section 109a of the Danish Public Companies Act at the extraordinary general meeting of shareholders held on 16 December 2008.

The decision of the Board of Directors involves the distribution of a total of DKK 327.6 million in cash corresponding to DKK 4.50 per share in TORM of a nominal value of DKK 5.00.

The dividend settlement will be effected by the Danish VP Securities Services (VP) on Monday, 22 December 2008 on the basis of the shareholdings registered on VP accounts following an update at the end of the trading day, and the dividends will be available to the shareholders on Tuesday, 23 December 2008. For trades in TORM shares subject to customary three trading days' settlement, Thursday, 18 December 2008 will be the first trading day where TORM shares trade ex dividend.

About TORM

TORM is one of the world's leading carriers of refined oil products as well as being a significant participant in the dry bulk market. The Company operates a combined fleet of more than 130 modern vessels, principally through a pooling cooperation with other respected shipping companies who share TORM's commitment to safety, environmental responsibility and customer service.

TORM was founded in 1889. The Company conducts business worldwide and is headquartered in Copenhagen, Denmark. TORM's shares are listed on the Copenhagen Stock Exchange (Copenhagen:TORM.CO - News) as well as on the NASDAQ (NasdaqGS:TRMD - News).

For further information, please visit http://www.torm.com.

Safe Harbor Forward Looking Statements

Matters discussed in this release may constitute forward-looking statements. Forward-looking statements reflect our current views with respect to future events and financial performance and may include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements, which are other than statements of historical facts. The forward-looking statements in this release are based upon various assumptions, many of which are based, in turn, upon further assumptions, including without limitation, Management's examination of historical operating trends, data contained in our records and other data available from third parties. Although TORM believes that these assumptions were reasonable when made, because these assumptions are inherently subject to significant uncertainties and contingencies which are difficult or impossible to predict and are beyond our control, TORM cannot assure you that it will achieve or accomplish these expectations, beliefs or projections.

Important factors that, in our view, could cause actual results to differ materially from those discussed in the forward looking statements include the strength of world economies and currencies, changes in charter hire rates and vessel values, changes in demand for ``tonne miles'' of oil carried by oil tankers, the effect of changes in OPEC's petroleum production levels and worldwide oil consumption and storage, changes in demand that may affect attitudes of time charterers to scheduled and unscheduled dry-docking, changes in TORM's operating expenses, including bunker prices, dry-docking and insurance costs, changes in governmental rules and regulations including requirements for double hull tankers or actions taken by regulatory authorities, potential liability from pending or future litigation, domestic and international political conditions, potential disruption of shipping routes due to accidents and political events or acts by terrorists. Risks and uncertainties are further described in reports filed by TORM with the U.S. Securities and Exchange Commission, including the TORM Annual Report on Form 20-F and its reports on Form 6-K.

Forward looking statements are based on management's current evaluation, and TORM is only under obligation to update and change the listed expectations to the extent required by law.

          A/S Dampskibsselskabet TORM
          Mikael Skov, CEO
            +45 39 17 92 00
          Roland M. Andersen, CFO
            +45 39 17 92 00