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BCL Declare Dividend and Announce Nine-Month Financial Results to September 2003

14 14 2003

Hamilton, Bermuda, 14 January 2003 - At their meeting this morning the Directors of Bermuda Container Line Ltd. declared two dividends. The first dividend declared was a special year-end dividend of $0.50 per share for the year ended 31st December 2002. The second dividend was the regular quarterly dividend for the first quarter of 2003 and was in the amount of $.011 per share. This is a $0.01 or 10% increase over the quarterly dividend rate paid in 2002. Both dividends are payable on the 19th February 2003 to shareholders of record as at 11th February 2003.

The unaudited financial statements for the nine months ended 30th September 2003 showed net earnings of $3,505,182; this was a decline of $109,954 or 3.04% from the comparable period in 2001.