Highlights for the third quarter of 2007:

• Group operating profit excluding exceptional items rises 19% this quarter to EUR 68.6 million (Q3 2006: EUR 57.5 million)
• Demand for storage services continues to be high in all markets
• All divisions contribute to the improvement in group operating profit
• New storage capacity commissioned during this quarter: 11,270 cbm at the Vopak Terminal ACS in Antwerp (Belgium) and 10,870 cbm at the Vopak Terminal Darwin (Australia). In total, 270,240 cbm additional storage capacity has been brought on stream this year
• Vopak has acquired the remaining 20% interest in the terminal in Vietnam which is now wholly-owned and the terminal in Dordrecht has been sold
• New, approved expansion projects in Banyan (Singapore), Gothenburg (Sweden), San Antonio (Chile) and Port Qasim (Pakistan) of 476,700 cbm in total

Outlook:

• Vopak will add more than 2.3 million cbm in storage capacity worldwide during 2007 and 2008; Vopak expects total capital expenditure for 2007 of between EUR 420 and 460 million, including investments for maintenance, safety and the environment
• Barring unforeseen circumstances and taking into account the cost of implementing strategic initiatives, Vopak expects group operating profit excluding exceptional items to increase by at least 20% compared to 2006 (2006: EUR 220.9 million)

John Paul Broeders, Chairman of the Executive Board of Royal Vopak:

"The huge efforts made by our people and our growth strategy once again resulted in a healthy group operating profit for this quarter. We continue to see a worldwide increase in the need for our storage services. Vopak meets this need by expanding global storage capacity, adding expansion projects with a total capacity of 476,700 cbm in this quarter. In doing so, our organisation has entered a new phase. In order to direct this growth effectively, we are paying considerable attention to the development of our people and our organisation, for example, in the field of project management. This is in line with Vopak's culture of exchanging knowledge and continuously improving our processes and working methods."

Group operating profit
Group operating profit increased by 28% in the period to EUR 73.7 million (Q3 2006: EUR 57.7 million) including a negative currency translation effect of EUR 1.1 million, compared with the same period in 2006. Excluding exceptional items, group operating profit rose 19% to EUR 68.6 million (Q3 2006: EUR 57.5 million). This rise is in line with earlier quarters and a result of the strategic focus on growth. By responding promptly to increased customer demand for storage and transhipment services, Vopak is able to achieve organic growth and the company can expand its capacity in several strategic locations in various regions. All divisions contributed to the improvement in the result. The gain on the sale of the Standic Terminal in Dordrecht (Netherlands) has been recorded as an exceptional item of EUR 5.1 million in the third quarter of 2007.

Review by division for the third quarter of 2007 (excluding exceptional items)

As in previous quarters, the CEMEA (Chemicals Europe, Middle East & Africa) division further improved its occupancy rates and margins, so that its operating profit in the third quarter of 2007 rose by 28% to EUR 22.5 million (Q3 2006: EUR 17.6 million). 11,270 cbm of newly-built capacity at the ACS terminal in Antwerp came on stream.

Operating profit of the OEMEA (Oil Europe, Middle East & Africa) division grew 8% to reach EUR 19.3 million (Q3 2006: EUR 17.8 million). The improvement in results applied to almost every terminal. An exception was the joint venture terminal in Estonia which is suffering from stagnation in the flow of products. We are assuming that this will continue for some time.
The terminal in Gothenburg (Sweden) will be expanded by 60,000 cbm for oil products.

Operating profit of the Asia division rose by 6% to EUR 19.9 million (Q3 2006: EUR 18.8 million), including a negative currency translation effect of EUR 0.4 million. The improvement is mainly due to the commissioning of new terminals and expansion of existing terminals. Storage capacity at the terminal in Darwin (Australia) was expanded by 10,870 cbm. Ownership rights were acquired for the remaining 20% interest in the Vopak terminal in Vietnam, so that this terminal is now wholly-owned. At the Banyan Terminal (Singapore) an additional expansion of 397,500 cbm has been approved and the Engro Vopak Terminal joint venture in Port Qasim (Pakistan) will be expanded by 10,000 cbm of ethylene storage capacity.

In North America, third quarter operating profit grew 24% to EUR 7.7 million (Q3 2006: EUR 6.2 million) including a negative currency translation effect of EUR 0.4 million. The operating margin improved as a result of optimising the portfolio of activities.

As in previous quarters, the Latin America division improved its result by 34% to EUR 5.5 million (Q3 2006: EUR 4.1 million) including a negative currency translation effect of EUR 0.1 million. The Vopak Chile - San Antonio Terminal is being expanded by 9,200 cbm of storage capacity.

Expenses not allocated to the divisions amounted to EUR 6.5 million (Q3 2006: EUR 6.8 million). This figure includes head-office expenses and costs for project studies, including the Gate terminal project, a joint venture with N.V. Nederlandse Gasunie for the development of an LNG terminal on the Maasvlakte, near Rotterdam. It is expected that an investment decision will be taken in the foreseeable future. Vopak is accelerating implementation of its excellence programmes and strategic initiatives to support growth in the business, causing an increase in
head-office and other expenses in 2007.

Forward-looking statements
This document contains statements of a forward-looking nature, based on currently available plans and forecasts. Given the dynamics of the markets and the environments of the 30 countries in which Vopak renders logistics services, the company cannot guarantee the accuracy and completeness of such statements.

Unforeseen circumstances include, but are not limited to, exceptional income and expense items, unexpected economic, political and foreign exchange developments, and possible changes to IFRS reporting rules.

Statements of a forward-looking nature issued by the company must always be assessed in the context of the events, risks and uncertainties of the markets and environments in which Vopak operates. These factors could lead to actual results being materially different from those expected.

Financial calendar
7 March 2008   Publication of 2007 annual results
22 April 2008  Publication of 2008 first quarter results in the form of a trading update
24 April 2008  Annual General Meeting
28 April 2008  Ex-dividend quotation
30 April 2008  Dividend record date
28 August 2008  Publication of 2008 first half year results
7 November 2008 Publication of 2008 third quarter results in the form of a trading update
 

Profile
Royal Vopak is the world's largest independent tank terminal operator specialising in the storage and handling of liquid and gaseous chemical and oil products. On request, Vopak can provide complementary logistics services for customers at its terminals. Vopak operates 74 terminals with a storage capacity of more than 21 million cbm in 30 countries. The terminals are strategically located for users and the major shipping routes. The majority of its customers are companies operating in the chemical and oil industries, for which Vopak stores a large variety of products destined for a wide range of industries.

For more information

Koninklijke Vopak N.V. (Royal Vopak)
Corporate Communication & Investor Relations
Rolf Brouwer

Telephone : +31 (0)10 4002777
E-mail  : corporate.communication@vopak.com
Website : http://www.vopak.com/

Enclosures:

1. Growth perspective
2. Breakdown of group operating profit
3. Exchange rates

Enclosure 1: Growth perspective*

* This list provides only an indication of the expansion efforts within the network and is not exhaustive.

Enclosure 2:     Breakdown of group operating profit^*