I.M Skaugen SE (IMSK) calls for a Bondholders meeting to consider the approval
of an early redemption of the loan IMSK02 (ISIN NO 001 0294358). The company
holds the majority of the outstanding bonds (USD 7,3 million owned by others).
IMSK proposes to redeem the loan on 15th March 2010 at 101.00% of par value plus
accrued interest.

The Bondholders' meeting is to be held on 10th March 2010 at 10:00 (CET) at the
premises of Norsk Tillismann ASA.

IMSK has engaged Fearnley Fonds ASA as financial advisor with respect to the
proposal. Bondholders may contact Thomas Berg-Nielsen at +47 22 93 63 51 or
tbn@fearnleys.no for further information.

Please find attached the summons to Bondholders' meeting.

I.M. Skaugen SE

If you have any questions, please contact:
Bente     Flø,     Chief     Financial     Officer,     on     telephone     +47
23 12 03 30/+47 91 64 56 08 or       by       e-mail:      bente.flo@skaugen.com
<mailto:bente.flo@skaugen.com>.  This  press  release  is  also available on the
Internet at our website: http://www.skaugen.com <http://www.skaugen.com/>.


Listed on the Oslo Stock Exchange under the ticker code IMSK,. I.M. Skaugen SE
(IMS) is a marine transportation service company engaged in the hassle-free
 transportation of petrochemical gases, chemicals, LPG and LNG, marine transfer
of crude oil and LNG, as well as design and construction of smaller, specialised
high quality vessels.

IMS  is a fully-integrated shipping company that designs, builds, owns, mans and
manages  its own ships.  IMS customers are  major international companies in the
oil  and  petrochemical  industry,  whom  it  serves worldwide from locations in
Bahrain,  Freeport and  Houston (USA),  Oslo and  Stavanger (Norway), Singapore,
Sunderland  (UK) and Nanjing, Shanghai, Taizhou, Zhangjiagang and Wuhan (China).
We  also operate recruitment and training  programmes in St. Petersburg (Russia)
and Wuhan (China) for the crewing of vessels.

IMS  employs approximately 1,800 people around  the world and currently operates
about  37 vessels worldwide. The fleet comprises  petrochemical gas, LPG and LNG
carriers, Aframax tankers and lightering support vessels, barges and tugs.

IMS has a comprehensive newbuilding programme in China, of which three 3,200cbm
LPG  vessels are delivered and sold; three purpose-designed combination carriers
with  LPG/Ethylene/VCM and Organic chemicals carrying  capability; and up to ten
advanced  10,000-12,000cbm LNG/  LPG/Ethylene  gas  carriers, with delivery from
2009 onwards.   IMS   has   invested   and   built  up  internal  resources  and
infrastructure in China to ensure innovative and flexible vessels at lower cost.


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