Re Agreement

Clarkson PLC
22 January 2002

H Clarkson & Company Limited, the main trading subsidiary of Clarkson PLC,
issued the attached announcement today






                                                           FOR IMMEDIATE RELEASE


OceanConnect expands fuel services team

Clarksons Bunker Group becomes OceanConnect UK Limited



WHITE PLAINS, NY, January 22, 2002 - Clarksons Chairman Gary Weston announced
today that Clarksons is increasing its equity share in OceanConnect following
OceanConnect's acquisition of the Clarksons Bunker Group.



The move adds five professional fuel brokers to OceanConnect's London group,
making it one of the largest brokering teams in London.  OceanConnect UK Ltd,
OceanConnect's London affiliate, will handle all bunker transactions previously
serviced by Clarksons Bunker Group.



'Clarksons and OceanConnect began a joint marketing and services agreement in
March 2001.  Combining the best traditional broker services with the
efficiencies of ecommerce enabled OceanConnect to provide our customers with a
superior brokering service. The results were outstanding.  By working together,
we moved beyond brokering.  Our customers benefited from a range of choices that
no other broker can offer,' OceanConnect President Thomas Reilly said.



'Clarksons chartering customers have already benefited from our relationship
with OceanConnect and our confidence in its future means we intend to
concentrate our resources on developing the OceanConnect customer base. Our
increased equity stake in OceanConnect represents the best way for Clarksons to
continue its involvement in the bunker industry,' Clarksons Chairman Gary Weston
said.




Reilly noted that OceanConnect's US team also added broker expertise with the
recent hiring of Marie Morelli, who brings 26 years of industry experience from
Marine International Petroleum, KPI, Worldwide Bunkers and Texaco.





About Clarksons Bunker Group



The Clarksons Bunker Group, established in the mid 1970s, is one of the largest
dedicated brokering teams in London.  The team brings almost 100 years of marine
industry experience:



Mike Ball                Clarksons, Esso

Trevor Matthews          Clarksons, E.A. Gibsons, Texaco

Robert Law               Clarksons, Texaco

Lee Pritchard            Clarksons, Texaco

John Hawkes              Clarksons, Davies and Newman, Shell






About OceanConnect

OceanConnect launched its online bunker auction platform in July 2000.  The
company's unique combination of traditional broker services with a transparent
online marketplace allows buyers and suppliers to efficiently find the best
available deal, with or without a computer.  Fuel requirements have been
fulfilled worldwide, with auctions in North and South America, Europe, Africa
and the Middle East, the Far East, and Australia. Over $250 million in business
has been closed to date.  OceanConnect succeeds by creating value for the marine
industry with staff in New York, Singapore and London.



Purchasing Services - Suppliers compete in live, transparent auctions to win a
buyer's fuel business.  Buyers and suppliers see the market while finding the
best possible deal.

Traditional Broker Support - A worldwide team of fuel experts is available 24/7
to offer traditional broker service including market indications, advice on when
and where to buy, and post-fixture support.

Market Information - Daily bunker pricing from Clarksons, the latest news from
Bunkerworld, weekly bunker market reports from Cockett Marine Oil Ltd,
commentary from industry expert Michael J. Marco, forward price indications from
Sempra Energy and average price charts from Petroleum Argus are available
online.

Bunker Intelligence - Customers can receive personalized analyses of fuel
spending and market conditions that highlight opportunities for saving money.


E-procurement site MarineProvider AS routes bunker enquiries to OceanConnect as
part of their total solution for maritime purchasing.


OceanConnect is the global marketplace for the marine industry offering marine
fuels, products and services to all buyers and sellers.  Investors include:
Argos Group NL; Booz Allen Hamilton; BP International; Chemoil Corporation;
ChevronTexaco Fuel and Marine Marketing; Clarksons; DS Norden AS; Eletson
Ventures Inc.; Keystone Shipping Company; Lazard Brothers & Co. Ltd;
MarineProvider AS; Marubeni International Petroleum (Singapore) Pte Ltd.; Nippon
Mitsubishi Oil Corp (NMOC );P&O Nedlloyd; Shell; Stena Bulk AB.  Except for
historical information, the matters discussed in this news release contain
forward-looking statements.  For more information about OceanConnect contact
Annette Manna at + 1(914) 253-7991 or Mike Ball at + 44 20 70 7626 4834.







                      This information is provided by RNS
            The company news service from the London Stock Exchange