NOTE 10
CASH AND SHORT-TERM DEPOSITS


Cash at bank and in hand earns interest at floating rates based on current bank deposit rates. Short-term deposits are made for varying periods of between one day and three months depending on the immediate cash requirements of the Group, and earn interest at the respective short-term deposit rates.

The cash and short-term deposits had an average interest rate of 2.8% in 2005.

Cash and short-term deposits include restricted deposits of USDm 1.5 in 2005 and USDm 1.1 in 2004.