• Operating income (EBIT) for 2003 amounts to EUR 192 million
• Includes net exceptional income for 2003 of EUR 25 million
• Publication of final annual results on 8 March 2004 before opening of the stock exchange

Vopak announces operating profit for 2003 of EUR 192 million after exceptional items (2002: EUR 213 million) based on provisional figures. This amount includes net exceptional income of EUR 25 million, which is made up of the following two components:
- A release of the guarantee issued to Univar (EUR 33 million).
- A loss on the sale of non-core activities, impairment of assets earmarked for disposal, and other exceptional income and expense (-/- EUR 8 million). 

Of the operating profit excluding exceptional items of EUR 167 million, EUR 17 million relates to divestments resulting from the strategic review.

Operating profit excluding exceptional items for the fourth quarter of 2003 was in line with that for the third quarter.

Vopak will publish its annual results for 2003 on Monday 8 March 2004, before opening of the stock exchange, and does not make any forecast at the present time as to the expected result for 2004.

Profile
Royal Vopak provides independent tank terminal capacity over the whole world to the chemical and oil industries for the storage of liquid and gaseous chemical products and oil products. Related to this, Vopak also provides a wide range of logistic services, independently or in cooperation with strategic partners.

The company is divided globally into five market regions and operates a network of 71 tank terminals with a combined storage capacity of approximately 19.9 million m3 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/