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Kadampanattu Corp News

05 Aug 2004

Trailer Bridge Reports 2Q Results

Trailer Bridge, Inc. reported the financial results for the second quarter ended June 30, 2004 (see attached table), highlighted by net income of $988,823, a $1.7 million improvement compared to the second quarter of 2003, and a 7.9% increase in total operating revenues. Total revenue for the three months ended June 30, 2004 was $24,102,899, an increase of $1,769,672, or 7.9%, compared to the second quarter of 2003 and an increase of $1,194,169, or 5.2%, sequentially compared to the first quarter. The effective revenue per container equivalent of all of the southbound cargo represented an increase of 6.0% from the year earlier period and an increase of 1.9% compared sequentially to the first quarter.

21 May 2002

Trailer Bridge Finalizes Senior Loan Amendment

Trailer Bridge, Inc. announced the execution of an amendment to its financing agreement with GE Capital and the addition of four new members to the Company’s Board of Directors. The amendment with GE Capital waives past non-compliance with certain covenants and establishes new financial covenants that the Company is confident it will remain in compliance with. Trailer Bridge has a $15 million revolving credit facility, with actual draws determined by a borrowing base formula. At March 31, 2002, the amount outstanding under this facility was $4.7 million. The Company also has approximately $10.3 million outstanding under a term loan facility with GE Capital. The Company also announced that Peter S. Shaerf has joined the board and that Malcom P. McLean, Jr., Greggory B. Mendenhall and F.

18 Nov 2004

Trailer Bridge Announces Pricing of Senior Secured Notes

Trailer Bridge, Inc. (NASDAQ: TRBR) announced that it had priced its offering of senior secured notes due 2011 (the ``Notes''). The Notes were priced at a fixed interest rate of 9.25% and investor interest in the Notes resulted in the overall amount offered increasing to $85 million from the initial offering amount of $80 million. Interest on the Notes will be payable semiannually on May 15 and November 15 of each year. The Notes will be secured by a first priority lien on two roll-on, roll-off vessels, 53’ intermodal equipment and real estate. The offering is expected to close on December 1, 2004. Trailer Bridge expects to receive approximately $81.5 million in net proceeds from the offering of the Notes.

13 Aug 2002

Trailer Bridge to Remain on Nasdaq National Market

Trailer Bridge, Inc. has been notified by the Nasdaq Listing Qualifications Panel that, based upon a transaction it finalized today, it has regained compliance with Nasdaq’s maintenance standards and its common stock will continue to be listed on The Nasdaq National Market. Upon receipt of the favorable decision of the Nasdaq Listing Qualifications Panel, Trailer Bridge completed the exchange of $20,378,615 of inter-company debt, the entire amount outstanding at March 31, 2002, to its affiliate Kadampanattu Corp. (“K Corp.)” into non-convertible preferred stock. The exchange had been previously approved by both companies’ boards of directors and was conditioned solely upon a favorable response from the Nasdaq Listing Qualifications Panel.