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CSX Expands Management Team for Pusan Container Project

Maritime Activity Reports, Inc.

July 13, 2004

CSX World Terminals LLC (CSXWT) announced the appointment of two key management positions for its Pusan, South Korea, container terminal development project.

Gerard van den Heuvel has been appointed as director-operations and John M. Elliott has been hired as commercial director. Van den Heuvel began his new assignment in May 2004, and Elliott will begin his new role on July 19, 2004. Both will report to Rob Walker, CSXWT vice president-South Korea.

In his new position, van den Heuvel will be responsible for development of the Pusan terminal and terminal operations once construction is complete. Van den Heuvel has more than 15 years of experience in terminal and vessel operations management. Most recently he held the position of CSXWT director of operations where he was a member of several process improvement teams. His areas of expertise include terminal operations, process analysis and improvement, terminal layout and traffic flow, and cargo handling equipment. Van den Heuvel holds a masters degree from Maritime Institute “De Ruyter” in Vlissing, Netherlands.

Elliott will be responsible for all commercial activities under CSXWT’s management contract for Pusan Newport Company (PNC). He has more than 14 years of marine terminal experience. Prior to joining CSXWT, he held the position of terminal director for Maersk-Sealand in Gioia Tauro, Italy, and various terminal management positions for Sea-Land Service, Inc. Elliott earned a bachelor’s degree from the University of North Carolina-Charlotte.

“Gerard and John both bring a diversified management background and demonstrated leadership initiatives to CSX World Terminals. Their extensive technical expertise and operations creativity will serve CSXWT and the Pusan team extremely well and we are very excited to have them on board,” said Walker.

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