HELLERUP, Denmark, August 11 /EMWNews/ -- The Company's

product tankers continue to contribute higher earnings than expected. The

background for the performance is that TORM now commands a significantly

larger fleet following the acquisition and integration of OMI and FR8 (50%)

combined with the fact that the product tanker market is developing

favourably with respect to demand and freight rates. TORM expects that this

trend will continue in the near future and raises its pre-tax profit

outlook for 2008 from USD 295-315 million to USD 355-370 million.



    "We expect our 2008 earnings to be the highest in company history. This

is a consequence of our growth strategy and confirms our focus on the

product tanker market. The timing of the acquisition of OMI and

subsequently of 50% of FR8 was favourable in view of the positive

development we are experiencing in the tanker market," says TORM CEO Klaus

Kjaerulff.



    TORM will release its report for the first six months of the year on

Wednesday, 20 August 2008.

    About TORM



    TORM is one of the world's leading carriers of refined oil products as

well as being a significant participant in the dry bulk market. The Company

operates a combined fleet of more than 125 modern vessels, principally

through a pooling cooperation with other respected shipping companies who

share TORM's commitment to safety, environmental responsibility and

customer service.



    TORM was founded in 1889. The Company conducts business worldwide and

is headquartered in Copenhagen, Denmark. TORM's shares are listed on the

Copenhagen Stock Exchange (ticker TORM) as well as on the NASDAQ (ticker

TRMD). For further information, please visit http://www.torm.com.



    Safe Harbor Forward Looking Statements



    Matters discussed in this release may constitute forward-looking

statements. Forward-looking statements reflect our current views with

respect to future events and financial performance and may include

statements concerning plans, objectives, goals, strategies, future events

or performance, and underlying assumptions and other statements, which are

other than statements of historical facts. The forward-looking statements

in this release are based upon various assumptions, many of which are

based, in turn, upon further assumptions, including without limitation,

Management's examination of historical operating trends, data contained in

our records and other data available from third parties. Although TORM

believes that these assumptions were reasonable when made, because these

assumptions are inherently subject to significant uncertainties and

contingencies which are difficult or impossible to predict and are beyond

our control, TORM cannot assure you that it will achieve or accomplish

these expectations, beliefs or projections.



    Important factors that, in our view, could cause actual results to

differ materially from those discussed in the forward looking statements

include the strength of world economies and currencies, changes in charter

hire rates and vessel values, changes in demand for "tonne miles" of oil

carried by oil tankers, the effect of changes in OPEC's petroleum

production levels and worldwide oil consumption and storage, changes in

demand that may affect attitudes of time charterers to scheduled and

unscheduled dry-docking, changes in TORM's operating expenses, including

bunker prices, dry-docking and insurance costs, changes in governmental

rules and regulations including requirements for double hull tankers or

actions taken by regulatory authorities, potential liability from pending

or future litigation, domestic and international political conditions,

potential disruption of shipping routes due to accidents and political

events or acts by terrorists. Risks and uncertainties are further described

in reports filed by TORM with the US Securities and Exchange Commission,

including the TORM Annual Report on Form 20-F and its reports on Form 6-K.



    Forward looking statements are based on management's current

evaluation, and TORM is only under obligation to update and change the

listed expectations to the extent required by law.