CP SHIPS ISSUES ANOTHER 1.1 MILLION SHARES

CP SHIPS ISSUES ANOTHER 1.1 MILLION SHARES

   CP Ships has sold a further 1.1 million of new common shares at C$15.00 ($ 9.93) to cover over-allotments, as part of its share issue.

   On July 3, the London-based shipping group also completed an offering of 8.5 million common shares at C$ 15.00 per common share.

   The shares will be listed on the New York and Toronto stock exchanges.

   CP Ships, the parent company of ANZDL, Canada Maritime, Cast, Contship Containerlines, Lykes Lines and TMM Lines, is in the process of completing the takeover of Italia Line, the Genoa-based shipping line.