ANNOUNCEMENT NO 10 - 20101 November 2010Sale of two dry bulk newbuildings TORM has entered into an agreement to sell the two Kamsarmax dry bulknewbuildings TORM Karen and TORM Kate. Both vessels are planned to be deliveredto TORM in Q1 2011. The newbuildings have been sold for a total considerationof USD 90 million with a total net loss of USD 16 million. The newbuildings are expected to be delivered to the new owner in the firstquarter of 2011, where the effect of the transaction will be recognised in thefinancial statements. "We consider timing of the sale to be attractive given the large number of newvessel deliveries in the coming years. Going forward we expect that thecontinued volatile dry bulk market will offer many interesting opportunitieswhich we are ready to exploit," says CEO Jacob Meldgaard. Following the sale of the vessels, TORM's owned fleet consists of 68 producttankers and two dry bulk vessels. In addition, TORM has seven product tankersand two dry bulk vessels on order. Contact:Jacob Meldgaard, CEO, tel.: +45 39 17 92 00Roland M. Andersen, CFO, tel.: +45 39 17 92 00About TORMTORM is one of the world's leading carriers of refined oil products as well asa significant player in the dry bulk market. The Company runs a fleet ofapproximately 140 modern vessels in cooperation with other respected shippingcompanies sharing TORM's commitment to safety, environmental responsibility andcustomer service. TORM was founded in 1889. The Company conducts business worldwide and isheadquartered in Copenhagen, Denmark. TORM's shares are listed on NASDAQ OMXCopenhagen (ticker: TORM) and on NASDAQ in New York (ticker: TRMD). For furtherinformation, please visit www.torm.com. Safe Harbor Forward Looking StatementsMatters discussed in this release may constitute forward-looking statements.Forward-looking statements reflect our current views with respect to futureevents and financial performance and may include statements concerning plans,objectives, goals, strategies, future events or performance, and underlyingassumptions and other statements, which are other than statements of historicalfacts. The forward-looking statements in this release are based upon variousassumptions, many of which are based, in turn, upon further assumptions,including without limitation, Management's examination of historical operatingtrends, data contained in our records and other data available from thirdparties. Although TORM believes that these assumptions were reasonable whenmade, because these assumptions are inherently subject to significantuncertainties and contingencies which are difficult or impossible to predictand are beyond our control, TORM cannot assure you that it will achieve oraccomplish these expectations, beliefs or projections. Important factors that, in our view, could cause actual results to differmaterially from those discussed in the forward looking statements include thestrength of world economies and currencies, changes in charter hire rates andvessel values, changes in demand for “tonne miles” of oil carried by oiltankers, the effect of changes in OPEC's petroleum production levels andworldwide oil consumption and storage, changes in demand that may affectattitudes of time charterers to scheduled and unscheduled dry-docking, changesin TORM's operating expenses, including bunker prices, dry-docking andinsurance costs, changes in governmental rules and regulations includingrequirements for double hull tankers or actions taken by regulatoryauthorities, potential liability from pending or future litigation, domesticand international political conditions, potential disruption of shipping routesdue to accidents and political events or acts by terrorists. Risks anduncertainties are further described in reports filed by TORM with the USSecurities and Exchange Commission, including the TORM Annual Report on Form20-F and its reports on Form 6-K. Forward looking statements are based on management's current evaluation, andTORM is only under obligation to update and change the listed expectations tothe extent required by law.