June 25, 2008

Media contact:

Bob Watters, Vice President

SSA Marine, Seattle

206.654.3575

Vietnam government presents Investment License to a joint venture between SSA Marine and Cailanport Joint Stock Company

WASHINGTON DC — In the presence of Vietnam Prime Minister Nguyen Tan Dung, the Socialist Republic of Vietnam presented SSA Marine and Cailanport Joint Stock Company with the Investment Certificate for their joint venture company, Cai Lan International Container Terminal Limited Liability Company (“CICT”)

The Investment Certificate allows CICT to develop and operate container terminals at Cai Lan Port, in Quang Ninh Province. CICT will develop and operate berths 2, 3 and 4 and cooperate on such other terminal operations as mutually agreed by the parties. The development of berths 2, 3 and 4 is estimated at a total project cost of $100,000,000.

“The growth of the manufacturing base in North Vietnam, through continually increasing foreign direct investment and increased industrial production, has fueled strong container volume demand. This growth, and the anticipated future growth, warrants the development of additional container terminal capacity,” stated Jon Hemingway, CEO and president of SSA Marine. Mr. Hemingway went on to say, “We are very pleased to be able to play a role in helping Vietnam continue to build out its infrastructure and provide world class operations in support of its growing economy.” 

Presided over by Vietnam Prime Minister Nguyen Tan Dung, Vietnam National Shipping Line President and CEO, Mai Van Phuc presents Bob Watters, Vice President – Director of Business Development for SSA Marine  with the Investment Certificate to develop and operate container terminals in Cai Lan, Vietnam.

About SSA Marine

SSA Marine, a subsidiary of Carrix, Inc., is the largest U.S. owned and the largest privately held container terminal operator and cargo handling company in the world, handling approximately 22 million container TEU’s per year. The nearly 60 year old company serves more than 120 locations worldwide, including port operations throughout the U.S. as well as internationally in Panama, Mexico, Chile, Costa Rica and New Zealand. 

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