TALLINK ORDERS TWO CRUISE FERRIES FROM FINCANTIERI

12 October 2005

Fincantieri and Tallink today signed a contract to build two new generation, high performance, ice-class cruise ferries, one of which is an option.

Tallink, the leading Estonian ferry operators and one of the most important in the Baltic area, runs regular services connecting Estonia with Sweden and Finland.

Each ship will have a gross tonnage of 36,000 gt, a deadweight of 5,000 tonnes, a length of 175 metres, a beam of about 28 metres, a draught of 7 metres. With 50,400 kW of total power available for propulsion, the vessel will have a loading capacity of about 2,000 lane metres for trailers (or, alternatively, for 660 cars), will have 240 cabins and will be able to carry up to 2,200 person at a speed of 29 knots.

Commenting on the order, Giuseppe Bono, Chief Executive Officer of Fincantieri, said: “This is a great commercial success for us in a highly competitive, discriminating market such as that of North Europe. Another leading player, Tallink, has been added to our customer portfolio thus further consolidating our world leadership as builders of large ferries, matching our well-established position as a world leading cruise shipbuilder.” Bono went on to add: “Thanks to the company’s highly flexible design capacity, Fincantieri has built large ferries for British, French, Greek, Finnish, Norwegian, Swedish and Italian owners developing designs which meet the requirements of an array of different cultures, market demands and regulations.”

Chairman of the Management Board of Tallink, Mr. Enn Pant, said: "This is a new and a great challenge for us to work with a leading shipyard who has built big cruise vessels for the operators all over the world. We hope that the new ferry and our cooperation with the shipyard will result in new quality and concept, which would improve the comfort and service quality for our passengers."