Change to Board of Directors

Seascope Shipping Holdings PLC 27 June 2000 Seascope Shipping Holdings PLC regrets to announce the resignation, with immediate effect, of Mr. Duncan Hill as CEO and Director of the Company. Mr. Hill has decided to further his career outside shipbroking. Pending the appointment of a new CEO Mr. Tom Young Non- Executive, Chairman will assume the role of acting Chief Executive. Tom Young Chairman For further information, contact: Seascope Shipping Holdings PLC 020 7903 2600 Mr. T. D. H. Young, Chairman