Vopak and N-Trans establish a joint venture in Estonia

Royal Vopak (Vopak) and N-Trans, owner of Pakterminal and Estonian Oil Service (EOS) respectively, which are both operators of oil storage and transit terminals in Tallinn, Estonia, announce that they have established a joint venture called Vopak EOS. The establishment of the joint venture follows the execution of the Heads of Agreement, signed on December 11, 2007. Upon establishment, N-Trans will have a shareholding of 65% and Vopak a shareholding of 35%. Vopak holds a call option allowing it to increase its shareholding in the joint venture up to a maximum of 75% on or before August 31, 2008.