OOIL names new CFO

OOIL (Orient Overseas International Limited) announced the appointment of Mr. Ken Cambie as an Executive Director with to take effect from August 1st,. August 2007, subject to any regulatory approvals. Mr. Cambie will assume the responsibilities of Chief Financial Officer as of August 13th, 2007.

Mr. Cambie joins OOIL following a 20-year career with Citigroup, most recently as a Director, of Transportation, and Asia Pacific Corporate Banking and has been based in Hong Kong for the last six years. In that role Mr. Cambie was responsible for meeting the banking and financing needs of a range of shipping, port, airline, and airport companies throughout Asia.

Prior to moving to Hong Kong, Mr. Cambie was the corporate banking head for Citibank New Zealand for seven years and had also spent several years with the bank in Australia in corporate banking and leveraged finance roles.

Mr. Cambie is a member of the New Zealand Institute of Chartered Accountants and holds a Master of Commerce degree (first class honourshonors) from Auckland University in New Zealand.

Mr. Cambie assumes these senior roles replacing Mr. Nicholas Sims who has held them since 2000.

During the past seven years, the Group has further strengthened its balance sheet, built an investor following and successfully realised the value of its Terminals Division. Nick has played a significant and considerable role in all these areas. While we at OOIL Group regret to see Nick? retirement, we understand his personal wish to spend more time with his family in the U.K. We wish Nick and his family every success in their new endeavourers,?said Mr. C C Tung, Chairman and CEO of OOIL Group. also take this opportunity to welcome Mr. Ken Cambie. My colleagues and I here at OOIL look forward to working with him in our continuous efforts to build and strengthen the Group.