Austral Shareholding Simplified

Majority Shareholders Declare That Austral Is Not for Sale


Panama – The shareholders of Dordogne Holdings, Inc. have reached an understanding today to restructure the ownership of the company which has controlling interest of Austral, S.A.A. Upon completion of the restructuring, the beneficial shareholding of Dordogne will be shared equally between Tri-Marine International, S.A. and Gateport Overseas, Inc., a company that is owned by the Mogster Group of Norway.

"I am happy to announce that Dordogne will be owned 50% each by Mogster and Tri Marine. I sincerely hope that this will put a stop to the many rumors regarding the possible sale or merger of Austral," stated Renato Curto, Chairman of Austral.

Helge Mogster, President of the Mogster Group added, "We are very proud of Austral and we have tremendous confidence in the company's management and employees. They have done a great job in managing the business despite the distractions created by the unfounded reports that the company was for sale. I now expect that the management will be able to concentrate on making Austral the best fishing company in the world."

Background on Austral

Austral produces and sells a variety of fishmeal and fish oil products derived from anchovy, which is found in significant commercial quantities along the coast of Peru. Fishmeal is principally used as a primary ingredient in the production of feedstuffs for the rapidly-expanding aquaculture industry (i.e., fish farming) and as a complementary ingredient in animal feed for swine, cattle, poultry, and household pets. Fish oil is utilized for animal and aquaculture feeds, industrial applications, and additives to human food products.

Austral owns and operates a fleet of 37 fishing vessels with an aggregate hold capacity of about 15,000 metric tons. The company also owns and operates six fish processing plants and two fish canneries. The plants have a total processing capacity of about 600 metric tons of fish per hour.