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Austal to Build Circle Line’s First High Speed Vessel

Maritime Activity Reports, Inc.

September 30, 2002

Austal USA has signed a contract with New York operator, Circle Line-Statue of Liberty Ferry, Inc. (Circle Line) for a 143-ft. passenger catamaran which will be the first aluminium high speed vessel for this operator and the third contract Austal USA has secured for the New York area in the last 6 months. When delivered to New York in late June 2003, it will be part of an extraordinary association between New York State and the Austal Group with the 136-ft. Cloud Nine dinner cruise vessel being delivered by Austal USA in the previous month and the delivery the following month of a 280-ft. High Speed Catamaran into Rochester, NY by Austal Ships of Australia. Austal managing director, Bob McKinnon, said the contract was another step in Austal becoming a major supplier of aluminum vessels to the US domestic market. “This order is another significant achievement for Austal USA with this dynamic yard continuing to develop skills and expertise with these new builds, positioning them well to continue to win orders for this type of craft and larger vessels,” Mr. McKinnon said. Capable of 29 knots and with the capacity for 600 passengers, the new vessel has been developed through close co-operation between Austal USA and Circle Line and will expand their harbor sightseeing cruises, evening charters and longer distance runs.

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