As  of 31 December  2009, the following  changes will  be made  in the  Board of
Directors of Camillo Eitzen & Co ASA (CECO) and Eitzen Chemical ASA (ECHEM):

Jørgen  Lund and Helene  Jebsen Anker have  decided to resign  from the Board of
Directors  in CECO. Following this, the Board of Directors will comprise of Axel
C.  Eitzen, Nina Eitzen,  Aage Figenschou and  Siv Jønland Staubo. Helene Jebsen
Anker  will  continue  as  member  of  the  Board  of  Directors in ECHEM, as an
independent board member.

Furthermore  as a consequence of the change  in the new shareholder structure in
ECHEM  and in regards  to the Extraordinary  General Meeting announcement of 26
November, the following changes will be made in the Board of Directors of ECHEM:

Siv  Jønland Staubo and Peter D. Knudsen will resign from the Board of Directors
of  ECHEM. Hereafter three out of five  members of the Board will be independent
of ECHEM?s main shareholder. The new Board of Directors will comprise of Axel C.
Eitzen,  James Stove  Lorenzen, Helene  Jebsen Anker,  Heidi Pettersen  and Aage
Figenschou.

The  number  of  Board  of  Directors  is  in accordance with CECO?s and ECHEM?s
Articles of Association.

All the above changes will be in effect as of 31. December 2009.


For further information, please contact:


Peter D. Knudsen,
Chief Executive Officer
Tel: +47 24 00 61 54

Snorre Krogstad,
Chief Financial Officer
Tel: +47 24 00 61 44


This information is subject of the disclosure requirements acc. to §5-12 vphl
(Norwegian Securities Trading Act)


[HUG#1369330]





    Press release no 17 2009 Changes in Board of Directors in Camillo Eitzen: http://hugin.info/135041/R/1369330/334888.pdf