British Ports Reorganizes American Management

October 15, 1999

Associated British Ports Holdings Plc has appointed Douglas Tipton as head of the Seaport container terminal division at its American Port Services subsidiary, and will reorganize top management including the appointing. Tipton has been president and chief executive officer of Contship Containerlines Inc. for the past three years. He has extensive experience of the container industry, having also worked at Mitsui OSK, Maersk and Sea-Land. Seaport will become one business unit under his leadership, with all U.S. terminals reporting to him. Seaport operates six terminals for car exports and imports, mainly on the U.S. east coast. Ozzie Moore will continue to head the U.S. aviation services division Amport. Moore and Tipton will report directly to ABP's chief executive Bo Lerenius. As a result, Tim Chadwick, chief executive of APS, will be leaving the group.

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