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FSL Trust Agrees To Sell One Product Tanker

The Board of Directors (the “Board”) of FSL Trust Management Pte. Ltd., as trustee-manager (the “Trustee-Manager”) of First Ship Lease Trust (“FSL Trust” or the “Trust”), announces that a whollyowned subsidiary of the Trust has entered into a memorandum of agreement to sell the vessel FSL Osaka (the “Vessel”) to an unaffiliated third party and received the initial 10% deposit in escrow.

The Vessel is a 45,998 DWT medium-range product tanker built at Shin Kurushima in Japan in 2007 and has been deployed in a pool. The disposal is made in the ordinary course of business. Details of the net proceeds of the disposal and their utilization will be announced upon completion of the disposal.
Source: First Ship Lease Trust

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