Christian Salvesen PLC – Trading Statement for 6 Months to September 2004

Salvesen (Christian) PLC
08 October 2004

For release at 7am on 8th October 2004

Christian Salvesen PLC

Close Period Trading Statement

Christian Salvesen PLC, the European logistics company, is providing the
following update on trading for the first six months of the financial year as
it enters its close period:

During the first half, the core logistics businesses have performed well, with
good contract retention rates and a sales pipeline that has built steadily. An
improved performance by the mainland European operations has helped mitigate
the impact of customer contract changes in the UK that became effective last
year. Recent new contracts include taking over the entire logistics activities
of Unilever’s ice cream and frozen foods subsidiary in Belgium and a major new
contract from Spar Retail, also in Belgium. In the UK, important new business
has been awarded by Woodward Food Service, part of the Big Food Group, Case New
Holland, and Bostik Findley. Business has also been renewed with Unipart and
Fuchs Lubricants.

Our vegetable processing business has been affected by the poor weather this
summer, with significantly lower tonnage and an extended harvest leading to
increased costs.

As stated in the annual report, the more conservative approach to accounting for
the Group’s food processing business will tend to shift profits from the first
half to the second half, and the benefits from the investment in growth are
expected to start to flow through in the second half of the year.

With the above factors in mind the Board anticipates that the outturn for the
year will be broadly in line with its expectations.

The announcement of the Group’s interim results for the six months to 30th
September 2004 will be released on 7th December 2004.

On 1st October, Christian Salvesen announced that it was in preliminary
discussions that might lead to a possible merger. Subsequently, TDG confirmed
that it had held preliminary discussions with Christian Salvesen. These
discussions are at an early stage and there is no certainty that a transaction
will be forthcoming. A further announcement will be made in due course.

For further information please contact:

Christian Salvesen PLC 01604 662600
Julian Steadman, Finance Director

Tulchan Communications 020 7353 4200
Kirstie Hamilton
William Davidson

This information is provided by RNS
The company news service from the London Stock Exchange