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Marine Log

October 26, 2006

Finnlines Board says Grimaldi offer is too low

The Board of Directors of Finnlines says it has evaluated the EUR 15.95 a share voluntary public tender offer for all shares in Finnlines Plc made by Grimaldi Compagnia di Navigazione S.p.A.

The Finnlines board says its considers the offer too low taking into account the company's new competitive capacity and strong position in the Baltic Sea's rapidly growing market area.

"Consequently," says a statement issued yesterday, "the Board of Directors of Finnlines cannot recommend the acceptance of the Tender Offer. The opinion of the Board of Directors is unanimous."

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