EGM Statement

Seascope Shipping Holdings PLC
7 March 2001



                        Seascope Shipping Holdings PLC
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                                 Press Release

For immediate release                                   7 March 2001

                Seascope Shipping Holdings plc ('the Company')

                Completion of merger with Braemar Shipbrokers

Following an EGM held by the company on 7 March, during which shareholders
approved all resolutions, the Board is pleased to announce the completion of
the merger with Braemar Shipbrokers.

Sir Peter Cazalet, Chairman, said.

'I am delighted that Shareholders approved the merger of Seascope with Braemar
Shipbrokers. The merger has now been completed and today marks a new beginning
for the combined Group, which I have no doubt will prove to be a major force
in the International shipping markets.'

Trading in the new shares will commence on 8 March 2001.


                                     Ends

For further information, contact:

Seascope Shipping Holdings PLC

Alan Marsh, Chief Executive                         Tel: [phone]

Derek Walter, Finance Director                      Tel: [phone]


Grandfield

Clare Abbot                                         Tel: [phone]