Lonrho Regulatory News (LONR)

22 Aug 2007 09:01

Lonrho PLC22 August 2007 22 August 2007 LONRHO PLC ("Lonrho" or the "Company") SHIPPING COMPANY"SAILS" DOUBLES CONTAINER VESSELS IN FLEET Lonrho (AIM: LONR), the African conglomerate with a diverse portfolio ofinvestments is pleased to announce that its 45% subsidiary SA Independent LinerServices (PTY) Ltd ("SAILS") has signed contracts with ship suppliers for twovessels, which will increase its fleet to four container vessels and tonnage to36,547 tonnes. Lonrho announced its investment in SAILS in July 2007 and the intention ofexpanding SAILS' fleet to offer regular, scheduled services from South Africa toWest Africa and Europe. The two sister ships that were being operated by SAILS prior to Lonrho'sinvestment, namely the 8,300 tonne MV Berta and MV Emilia, both with carryingcapacities of 650 twenty foot containers (TEU), will be used to provide aregular South Africa/ West Africa service. New Vessels Two new vessels will be added to the fleet as from the end of August 2007,namely: • the 9,966 tonne MV Taga Bay, with 1,100 twenty foot container capacity; and • the 9,981 tonne MV Heinrick Sibum, with carrying capacity of 966 containers. The MV Taga Bay is a brand new vessel chartered to SAILS for a period of 24months and will be the first vessel to carry the LONRHO SAILS branding. TheTaga Bay has 220 refrigerated container plugs. She will be delivered inShanghai at the end of August 2007, where she will lift cargo for variousparties to South Africa where she will take up her assignment on the SouthAfrica/ West Africa/ Europe service. The Taga Bay is expected to run profitablyfrom her first trip being the Shanghai to South Africa voyage. The MV Heinrick Sibum is scheduled to be delivered by the end of August 2007,and is chartered on a round voyage basis with options for additional round tripvoyage, thereby providing additional carrying capacity to Europe. This vesselhas 252 refrigerated container plugs. Further Expansion In addition, SAILS is seeking three more 1,100 container capacity, fast vesselsto add to its fleet with the aim of bringing these into service over the nextfour months. These 3 vessels are also planned to service the South Africa -Europe route. David Lenigas, Executive Chairman and Chief Executive commented; "The advancement of the SAILS strategy to become one of the leading shippingcompanies in Southern Africa providing a regular and reliable service to Europeis evidenced by the fact that last week the MV Berta sailed fully laden fromRotterdam, destined for Dakar, Tema and then Cape Town. "This is an exciting time for the Lonrho SAILS partnership and we look forwardto further expansion of the fleet in the near future." ENQUIRIES Lonrho Plc +44 (0) 20 7016 5105David Lenigas, Chief Executive +44 (0)7881 825 378Emma Priestley, Executive Director +44 (0)7867 785 177 SAILSIan Wicks +27 (0)82 3871202 +27 (0)21 4211750 Pelham PRCharles Vivian +44 (0) 20 7743 6672 +44 (0) 7977 297903Alisdair Haythornthwaite +44 (0) 20 7743 6676 +44 (0) 7714 721379 Collins Stewart EuropeHugh Field / Jonny Sloan +44 (0) 20 7523 8350 NOTES TO EDITORS About SAILS SAILS is a South African based shipping company focused on providing a regularand reliable scheduled service to West Africa, and Europe calling at - Durban,Port Elizabeth, Cape Town, Tema; Lagos, Rotterdam, Felixstowe, Bremerhaven andAntwerp. In the medium term SAILS is constantly monitoring and assessingalternative trade routes, including potentially East Africa, and looking toexpand rapidly to support the needs of itsalready strong client base. About LONRHO Lonrho Plc is an expanding conglomerate that is rapidly growing a successfulbusiness throughout Africa. The Company is listed on the London AIM stockexchange (LONR). Lonrho is strategically focused on the development of businessopportunities in infrastructure, transportation, support services and naturalresources. The Company has over 20,000 shareholders and substantialinstitutional backing to support its mandate to build a profitable business thatplays a fundamental role in the development of the African economy. Since 2006, the Company has invested in or acquired control of: • Hotel Cardoso - www.hotelcardoso.co.mz (retained)• Nare Diamonds - www.narediamonds.com• Brinkley Mining - www.brinkley-mining.com• Luba Freeport - www.lubafreeport.com• Fly540 - www.fly540.com• Norse Air - www.norseair.co.za• Swissta Holdings - www.swissta.com• Countermine - www.countermine.com• SA Independent Liner Services This information is provided by RNS The company news service from the London Stock Exchange