Pacific International Lines seeks voluntary delisting of PST

DBS, for and on behalf of Pacific International Lines, will make a cash offer to acquire all the issued units of Pacific Shipping Trust other than those already held at the date of the Exit Offer.

The offer price for each Offer Unit will be $0.43 in cash. The Exit Offer Price shall be applicable to any number of Offer Units that are tendered in acceptance of the Exit Offer. Unitholders may choose to accept the Exit Offer in respect of all or part of their holdings of Offer Units.

PST Management Pte. Ltd., the Trustee-Manager, has reviewed the Delisting Proposal and has appointed PricewaterhouseCoopers Corporate Finance Pte Ltd as the independent financial adviser to advise on the Exit Offer.

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