Olíudreifing ehf. is a leader in oil distribution in Iceland and considers it its duty to follow working procedures which ensure the highest levels of safety at all times.

Due to the great responsibility that comes with the risk of their work, it is very important that employees are duly prepared and that their judgement is not impaired in any way.

It is strictly forbidden for staff to conduct their work under the influence of alcohol or drugs. Ship crew members may not consume alcohol for 24 hours before reporting for work on board.

The use of prescription drugs by anybody other than the individual for whom they were prescribed is forbidden.

Employees shall inform their superior of any pharmaceutical products they are taking which may impair their judgement or concentration. Their superior shall them find them work to do in accordance with such.

Should a member of the a ship’s crew need pharmaceutical products from the ship’s medicine chest, the captain shall be consulted and the incident shall be recorded in the medicine log.

Staff in key roles and who conduct particularly dangerous work, including ship operators and managers, shall undergo spontaneous alcohol and drug tests at least annually. Other staff shall also undergo such tests regularly on the basis of a random sample. The samples collected may contain no traces of illegal drugs and may contain only the quantity of prescription drugs reasonably expected to be in blood according to a valid prescription held by the person in question. Alcohol levels may not exceed 0.40 per mille..

Olíudreifing ehf makes every effort to ensure that employees dealing with alcohol and drug problems receive all available assistance.

Infringements of the Company’s alcohol and drug policy are punishable by dismissal.

Reykjavík, 19 May 2003

Hörður Gunnarsson

Managing Director