After almost eight years as Managing Director and CEO of Modern Terminals, Mr. Erik Bøgh Christensen has decided to step down and – after more than 25 years in Hong Kong – prepare for return to his native Denmark.

The Board of Directors has appointed the Company’s Deputy Managing Director, Mr. Sean Kelly as Managing Director and new CEO of the Company. Mr. Kelly, formerly a senior shipping line executive with American President Lines, has been with Modern Terminals for five-and-a-half years.

Mr. Kelly’s appointment will take effect from 1st April 2005. Mr. Christensen will continue as Senior Director of Modern Terminals and during a transition period till September 2005, he will be supporting the board and management on a full time basis on special projects including Mainland China development projects.

Commenting on the announcement, Mr. Peter K.C. Woo, Chairman of Modern Terminals said:

“Under Erik Christensen’s leadership starting in 1997, Modern Terminals has developed and grown impressively and the Company is today in excellent shape, fully prepared and capable of not only meeting future challenges but also to capitalize on the opportunities, of which there are many”.

“Sean Kelly has been with Modern Terminals for over 5 years and as Deputy Managing Director he has made a significant contribution to the excellent market position which the Company now enjoys. The appointment of Sean Kelly, is ensuring senior management continuity and under his leadership I am confident that Modern Terminals business will continue to grow”.

Mr. Sean Kelly

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About Modern Terminals Limited

Modern Terminals has been continuously aiming for service excellence ever since it opened Hong Kong's first purpose-built container terminal in September 1972. In 2000, it established ModernPorts, Hong Kong's first one-stop e-business portal providing a wide range of port-related services for the shipping community. In February 2003, it jointly established OnePort Limited with other terminal operators to improve the efficiency of business processes in the Hong Kong Port through an open, secure and neutral platform for exchanging electronic information. In 2002, Modern Terminals launched the PRD Inland Gate, a unique network of dedicated daily feeder services that provide a faster, more efficient, cost-effective and reliable means of moving containers between Hong Kong Container Port and major manufacturing centres in the Pearl River Delta. Apart from optimizing its core business in Hong Kong Port, Modern Terminals has also been actively expanding into China in recent years. For more information, please visit www.ModernTerminals.com.

Issued by Modern Terminals Limited

For further information, please contact:
Joel Cheung, Corporate Affairs Manager
Tel: +852 2115 3640
Email: cad@ModernTerminals.com