FAUST

American V. Awarded Management Contract

American V. Ships, Mineola, N.Y., has been named the technical manager of three vessels to be chartered to the recently established Wallenius and Wilhemsen joint venture - Wallenius-Wilhemsen Line. American V. will continue to manage the 5,600-unit each Faust and Fidelio, which have been under the company's management since 1989. American V. signed a six-year contract with Automar International Car Carrier to be the technical manager of the U.S. flag vessels, Faust and Fidelio. The company will provide its full range of technical management services including operating, crewing, budget control, purchasing and quality assurance. The three vessels are chartered through September 2005 to American Roll-on Roll-off Carriers, a U.S. subsidiary of Wallenius-Wilhemsen Lines.

American V. Ships Awarded Ship Management Contract

American V. Ships, a full-service international marine transportation management and operations organization has been named the technical manager of three vessels to be chartered to the recently established Wallenius and Wilhelmsen joint venture, Wallenius-Wilhemsen Line. American V. Ships will continue managing 5,600-unit Faust and 5,600-unit Fidelio, which have been under its management and under U.S. flag since 1989, as well as another vessel, Tanabata, newly entered into U.S. registry.