04 November 2011

Settlement of Legal Costs

Clarksons, the world's leading integrated shipping services group, announces that the Court of Appeal in London decided to deny the claimant (Yuri Nikitin) leave to appeal in the cases between Mr Nikitin and H. Clarkson & Co. Limited ("the Company"), previously highlighted in the contingencies note in Clarksons interim financial statements.

The Company has been awarded costs relating to the matters appealed, and has today credited its profits with an amount of £2m that it has received as an interim payment on account of those legal costs. A costs assessment hearing anticipated for 2012 will determine the final amount of costs of this matter.

Enquiries:

Clarkson PLC 020 7334 0000
Jeff Woyda, Finance Director

Hudson Sandler 020 7796 4133
Andrew Leach
Kate Hough