North Sea Group Announces Creation of new Ethanol Subsidiary

ZUG, Switzerland, March 25, 2010 - North Sea Group, the largest independent fuel supplier in the
Benelux, is pleased to announce that it has set up a new subsidiary that will
focus on ethanol sales and distribution. The new venture, which is called
North Sea Global Ethanol (NSGE), has its headquarters in Zug, Switzerland,
and initially a subsidiary in Sao Paulo, Brazil. One of the NSGE goals is to
achieve complete integration of a fully sustainable supply chain to
downstream end use.

Responsible and sustainable CO2 reduction

The market for biofuels is continuing to grow rapidly due to
legislative and social factors. North Sea Group, which was formed by the
merger of the Van der Sluijs Groep and FNR+ Holding (Frisol, North Sea
Petroleum, Reinplus Vanwoerden), has made a conscious decision to reduce CO2
emissions in a responsible and sustainable manner. This means concentrating
on biodiesel from residue flows and on bioethanol from sugarcane, both of
which sources comply with sustainability requirements.

Trading, distribution and investment focusing on global
ethanol markets

NSGE is an international ethanol trading, distribution and
investment company that is focusing on all global ethanol markets. It will
not only handle fuel ethanol but is also firmly committed to developing the
industrial, pharmaceutical, cosmetics and potable grades. The Group's aim is
to have other offices and/or subsidiaries in strategic markets in the near
future. To achieve these goals, NSGE combines North Sea Group's extensive
financial, trading and logistics expertise within its fuel business with the
expertise of a highly experienced ethanol trading team that has just joined
NSGE.

About North Sea Group

North Sea Group is a key player in the downstream oil market.
The company combines storage and distribution with the international trading
and sale of mineral oils and biofuels. Its customers, including major oil
companies, the international shipping industry, trading houses and traders,
have relied on the product quality and market-oriented approach of North Sea
Group for decades. By expanding into Asia and South America, the European
company is further broadening its position in the increasingly global oil
market, paying close attention to issues of safety, sustainability and the
environment. A pioneer in the large scale marketing and distribution of
biofuels in the Benelux, North Sea Group has set the market standard by
blending biofuels with mineral oil.

For further information please contact Peter Nohlmans, CEO, North Sea Group, +31-162-586-216, press at northseagroup.eu.