We are very pleased to announce that Mr. Jens Grønning (45) will take up the position as Chief Executive Officer ("CEO") of Eitzen Chemical ASA commencing 11 November 2013. The former CEO, Mr. Per Sylvester Jensen will remain at the Company's disposal until the end of the year to ensure a smooth transition process.

Jens Grønning brings significant chemical tanker experience to this position given his past leadership roles. He joins Eitzen Chemical ASA from United Arab Chemical Carriers Ltd, Dubai, U.A.E. ("UACC") where he held the position as CEO from 2008 to 2013. Prior to that, he was with the Eitzen Group for 7 years, where he ended his tenure as Chief Operating Officer of Eitzen Chemical ASA. He is therefore well familiar with the Company and the chemical tanker segment.

"Jens Grønning brings over 20 years of commercial and managerial experience and expertise to Eitzen Chemical ASA, he is well acquainted with the line of business we are in and with the Company in general" stated Aage Figenschou, the Chairman of the Eitzen Chemical ASA Board of Directors, and continued: "We are pleased to welcome Jens Grønning back to the Company and look forward to him leading the continuation of the excellent work done by Per Sylvester Jensen. We wish to thank Per Sylvester Jensen for his untiring effort for the Company and wish him and his family all the best.

For further information, please contact:

Aage Figenschou

Chairman of the Board of Directors

Telephone: +47 24 11 63 90

Andreas Reklev

Chief Financial Officer

Telephone: +47 23 11 43 21

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

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