Port of Sillamäe (SILPORT) in Estonia, as a landlord port, has signed cooperation agreements with companies for building and operating terminals on the port territory. The first terminals being developed are:

Sillamäe Oil Terminal Ltd. – operator of terminal to be built for light and dark oil products with a storage capacity of 150 000 t in the first phase.

Tankchem Ltd. – operator of terminal to be built for liquid chemical products with a storage capacity of 46 500 t.

Sillgas Ltd. – operator of terminal for LPG (liquid petrol gas) to be built with a storage capacity of 12 000 t.

General Cargo Terminal – operator of terminal for handling metals and metal products, forest products, containerised goods, ro-ro and other general cargo on a territory of 20 ha equipped with a rail track and 3 loading/ discharging railway estacades.

SILPORT will start its port operations in the III quarter of 2005 as a multi-purpose port capable of handling different cargo groups: ro-ro, containers, general and conventional cargo, dry and liquid bulk.

SILPORT is the most eastern deep-sea port of the EU, located in the eastern part of the Baltic Sea, in Sillamäe, Estonia, 25 km from the EU-Russian border. Quayside depths of the port of 12 to 16 m will allow accepting the largest vessels that can enter the Baltic Sea. A wide network of hinterland infrastructure – roads and rail tracks, provide an efficient connection to/ from the neighbouring markets of Russia and the CIS. The Free Zone status (0% VAT, customs duties and excise taxes for cargo in transit) of the port in combination with the fiscal policy of Estonia, which is the most liberal in Europe (0% corporate income tax on retained earnings), make SILPORT an efficient platform for value-added distribution of cargo to the neighbouring markets of Russia, the CIS and the EU.

For additional information on SILPORT developments please visit our web-site: www.silport.ee or contact:

Anton Gans

Marketing Manager

tel: +372 6 405 275