TORM Increases Outlook for 2008 Earnings to All-Time High

Share Name	Share Symbol	Market	Type	Share ISIN	Share Description
Thames Riv. C$	LSE:TRMD	London	Ordinary Share	GG00B2QNQS65	C DOLLAR SHS NPV

Industry Sector	Turnover	Profit	EPS - Basic	PE Ratio	Market Cap
	0	0		N/A	0

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HELLERUP, Denmark, August 11 /PRNewswire-FirstCall/ -- The Company's product tankers continue to contribute higher earnings than expected. The background for the performance is that TORM now commands a significantly larger fleet following the acquisition and integration of OMI and FR8 (50%) combined with the fact that the product tanker market is developing favourably with respect to demand and freight rates. TORM expects that this trend will continue in the near future and raises its pre-tax profit outlook for 2008 from USD 295-315 million to USD 355-370 million. "We expect our 2008 earnings to be the highest in company history. This is a consequence of our growth strategy and confirms our focus on the product tanker market. The timing of the acquisition of OMI and subsequently of 50% of FR8 was favourable in view of the positive development we are experiencing in the tanker market," says TORM CEO Klaus Kjaerulff. TORM will release its report for the first six months of the year on Wednesday, 20 August 2008. About TORM TORM is one of the world's leading carriers of refined oil products as well as being a significant participant in the dry bulk market. The Company operates a combined fleet of more than 125 modern vessels, principally through a pooling cooperation with other respected shipping companies who share TORM's commitment to safety, environmental responsibility and customer service. TORM was founded in 1889. The Company conducts business worldwide and is headquartered in Copenhagen, Denmark. TORM's shares are listed on the Copenhagen Stock Exchange (ticker TORM) as well as on the NASDAQ (ticker TRMD). For further information, please visit http://www.torm.com/. Safe Harbor Forward Looking Statements Matters discussed in this release may constitute forward-looking statements. Forward-looking statements reflect our current views with respect to future events and financial performance and may include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements, which are other than statements of historical facts. The forward-looking statements in this release are based upon various assumptions, many of which are based, in turn, upon further assumptions, including without limitation, Management's examination of historical operating trends, data contained in our records and other data available from third parties. Although TORM believes that these assumptions were reasonable when made, because these assumptions are inherently subject to significant uncertainties and contingencies which are difficult or impossible to predict and are beyond our control, TORM cannot assure you that it will achieve or accomplish these expectations, beliefs or projections. Important factors that, in our view, could cause actual results to differ materially from those discussed in the forward looking statements include the strength of world economies and currencies, changes in charter hire rates and vessel values, changes in demand for "tonne miles" of oil carried by oil tankers, the effect of changes in OPEC's petroleum production levels and worldwide oil consumption and storage, changes in demand that may affect attitudes of time charterers to scheduled and unscheduled dry-docking, changes in TORM's operating expenses, including bunker prices, dry-docking and insurance costs, changes in governmental rules and regulations including requirements for double hull tankers or actions taken by regulatory authorities, potential liability from pending or future litigation, domestic and international political conditions, potential disruption of shipping routes due to accidents and political events or acts by terrorists. Risks and uncertainties are further described in reports filed by TORM with the US Securities and Exchange Commission, including the TORM Annual Report on Form 20-F and its reports on Form 6-K. Forward looking statements are based on management's current evaluation, and TORM is only under obligation to update and change the listed expectations to the extent required by law. DATASOURCE: A/S Dampskibsselskabet TORM CONTACT: Contact: A/S Dampskibsselskabet TORM, Tuborg Havnevej 18, DK-2900 Hellerup, Denmark; Telephone: +45-39-17-92-00, Klaus Kjaerulff, CEO, Mikael Skov, COO, Roland M. Andersen, CFO

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TRMD Thames Riv. C$