Rotterdam, the Netherlands, July 1, 2004

Koninklijke Vopak N.V. (Royal Vopak) announces that the company has strengthened its position in the Scandinavian tankstorage market.

Vopak Logistics Nordic AB acquired a 40.000 cbm terminal for oil and chemicals in the harbour of Malmö, Sweden. The terminal was taken over from Norsk Hydro Olje AB as per the 1st of July. By acquiring this terminal Vopak increases capacity in both chemicals and oil in the Malmö-Copenhagen area and is positioned to benefit from further growth of this market. Furthermore the acquisition will enable Vopak to benefit from economies of scale with its existing neighboring terminal.

Profile
Royal Vopak is a global independent tank terminal group, operating some 20 million m3 capacity for the storage of liquid and gaseous chemical and oil products and providing complementary logistics services to meet market demand. Through strategic alliances with third-party logistics providers, the group also offers integrated logistics solutions.

Vopak is organized by market regions and operates more than 70 tank terminals in 29 countries.

For further information, please contact:

Royal Vopak
Corporate Communication & Investor Relations
Bon Ellemeet
Telephone : + 31 10 4002777

E-mail : corporate.communication@vopak.com
Web site : http://www.vopak.com/

Norsk Hydro Olje AB
Anders Åkman
Director Energy Sales
Telephone : + 46 8 666 53 00
E-mail  : anders.akman@hydro.com
Web site : http://www.norskhydro.se/