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Austal USA Announces New CEO

Maritime Activity Reports, Inc.

May 19, 2003

Austal has appointed Greg Metcalf to the position of CEO. Prior to relocating to Mobile with his family, Metcalf worked for Austal Limited in Henderson, Western Australia for 5 years as Austal Group Financial controller and then Vice President of Business Development. Current activity at the Mobile yard includes a 143 –ft. high speed passenger catamaran being built for the Circle Line Statue of Liberty Ferry Company in New York City. Circle Line transports thousands of passengers each day to the Statue of Liberty and Ellis Island. The new catamaran is designed to meet Circle Line’s requirements for a vessel capable of fulfilling a number of different roles and will be delivered to New York in July.

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