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Strategic Reorientation for Danzas Chemicals

Basel (Switzerland) (March 17, 2000) -- After acquiring Nedlloyd's European Transport and Distribution (ETD) business in 1999, Danzas undertook a strategic review of Danzas Chemicals. This unit serves the chemical industry, providing logistics solutions and intermodal transport services (liquid and dry bulk) within Europe as well as intercontinental services.

As a highly specialized stand-alone operation, Danzas Chemicals needs to extend its size, network and logistics offerings to keep pace with growing and changing demand. With these strategic goals in mind, Danzas is currently discussing the situation with other specialists in the field of bulk chemical transportation. Danzas sees divestiture of the Danzas Chemicals business as the preferred option for the future development of this business which does not fit in with the group's core activities.

Danzas Chemicals, part of the group's Specialties Business Unit, generates annual net sales of over EUR 120 million. Its facilities in Moerdijk (NL), Southampton (UK), Oslo (NO), Göteborg (SW), Menzo (I) and Le Havre (FR) employ about 285 people. The fleet contains 120 trucks, 800 tankcontainers, 220 silocontainers, 80 chassis and 75 road barrels. Danzas Chemicals is certified under ISO 9002.

Logistics. Worldwide. With a strong presence on every continent, the Danzas Group is one of the world's leading providers of logistics solutions. Its 38,000 employees worldwide generate annual net sales of CHF 11.5 billion (EUR 7.2 billion, USD 7.6 billion). Danzas is based in Basel, Switzerland, and belongs to the Deutsche Post World Net.

For further information please contact:
Patrick Kaiser
Head of Corporate Communications
Tel: +41 61 274-7181
Fax: +41 61 274-7198