Fairstar Heavy Transport N.V. (FAIR) has informed Dockwise today that the conditional proposed Dockwise offer for Fairstar shares does not conform with the rules governing take-overs of publically listed companies in The Netherlands and Norway.

Fairstar has also advised that the proposed Dockwise offer may well cause certain "change in control clauses" to be triggered. In the event these change in control clauses are in fact called by Fairstar's banks and commercial partners, the financing facilities now in place as well as the commercial agreements awarded to Fairstar may no longer be binding.

Fairstar has informed Dockwise that Fairstar has reserved its rights against Dockwise and will hold Dockwise liable for any losses or damages that may occur as a result of the Dockwise conditional offer causing these clauses to be triggered.

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