Press Release  

JUNGENT TO BECOME SHELL LUBRICANTS DISTRIBUTOR IN THE BALTICS

Osaühing Pisipehme (a member of the Jungent Group of companies), today announced that, it has entered into an agreement with the Shell Group that will see it become a distributor of Shell-branded lubricants in Estonia, Latvia and Lithuania.  As part of the transaction, Osaühing Pisipehme will purchase the shares of Shell Eesti A.S. (Estonia), Shell SIA (Latvia) and Shell Lietuva UAB (Lithuania). 

The appointment of Osaühing Pisipehme  will become effective on completion of the purchase of these three Shell companies in the coming months. 

Meelis Saaresalu, member of the Board of Osaühing Pisipehme said:

“We feel this is an exciting development for the Jungent Group and good news for the region. We will combine Shell’s product quality and calibre of staff with our own deep market knowledge. We currently make more than 200,000 customer visits per year and with the addition of the Shell employees joining our team we are confident that we will be able to distribute Shell lubricants across many more outlets. The purchase of Shell Lietuva UAB shares represent a major milestone in  Jungent’s strategy to become a leading pan-Baltic FMCG sales and marketing company”

Roger Moulding, Vice President, Shell Lubricants said:

“We are delighted to enter this agreement with the Jungent Group. This means that Shell’s lubricant products will continue to be available to our customers who will also benefit from Jungents’ excellent knowledge of product distribution in the region. Moreover, as our staff will transfer to the Jungent group, impact on both our customers and staff will be minimized.

Overall we are confident that these arrangements are in the best interests of our staff, customers and our shareholders.”

As the transaction involves the purchase by Osaühing Pisipehme of the shares of Shell Eesti A.S., Shell SIA and Shell Lietuva UAB, it will have limited impact on the lubricants related employees currently employed by these Shell companies, most of whom will continue in their current roles.

Shell’s Marine and Aviation businesses will not be impacted by this transaction and their products will continue to be available in these countries through their own distributors. 

Ends

For further information:

Contact: Kait Liinev Board of Directors, Osaühing Jungent

Office:  +372 666 3805

Mobile: +3725015135

Contact: Susanne Tolstrup, Shell Lubricants

Office: +45 3337 2010

Mobile + 45 22206010

Date 29th March 2007

Notes to Editors

Osaühing Pisipehme is a member of the Jungent Group of companies,

The Jungent Group of Companies has more than 15 years Sales & Distribution experience in the region.

It represents a wide range of consumer brands including Masterfoods, Colgate Palmolive and SCA Hygiene Products, making more than 200 000 customer visits a year.  It will be well placed to service customers and use its deep-rooted local expertise to make Shell lubricants more widely available in Estonia, Latvia and Lithuania.

from left: Ross Banks, Shell International Limited, Kait Liinev Jungent Ltd., Rozimi Abdul Rahman Shell International Petroleum Company Limited, Meelis Saaresalu and Alger Närska Jungent Ltd