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January 1997

Executive Board Changes

Marquard & Bahls was run in a very decentralized manner up until a few years ago. Both Mabanaft and Oiltanking had two managing directors each. In 1993 Marquard & Bahls' Executive Board resolves to take a more active part in the day-to-day running of the business. The decision is made to limit Mabanaft and Oiltanking to one managing director apiece and to appoint these managers to the Marquard & Bahls Board, where they will each represent the interests of their business line. This will give the Board one member responsible for the entire corporation, and two members looking after either Oiltanking or Mabanaft. Hellmuth Weisser is to lead the team as Chairman of the Board. Since January 1, 1997 the Board has consisted of Mr. Hellmuth Weisser, Mr. Joachim Brinkmann and Mr. Wim Lokhorst. A fourth member, primarily responsible for Mabanaft Trading, is to be appointed to the Board at a later date.