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Ship Concept Study Delivered to Navy

Maritime Activity Reports, Inc.

February 7, 2003

Gibbs & Cox, Inc. have delivered their Focused Mission High Speed (FMHS) Ship Concept Study to the United States Navy. The FMHS concept design is the result of a 90-day contract awarded to the Gibbs & Cox, Inc. FMHS Team by the U.S. Navy on November 8, 2002. The results of the study show that the Gibbs & Cox, Inc. FMHS Team design meets or exceeds the general guidance and requirements (top speed, performance in a seaway, signatures, aviation capability, high speed endurance and modularity) within the $220 Million target budget. The Gibbs & Cox FMHS Team design philosophy emphasized the use of state of the art, proven technology to reduce technical and cost risk, minimize developmental requirements, meet the CAIV target goal, and allow the ship to be built in the timeframe envisioned for the FMHS. The design concept documented in the Final Report employs many innovative features to provide the lift and volume for the missions involved, while providing ample space for the modular mission systems envisioned.

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