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Sonsub Makes New Appointments

Maritime Activity Reports, Inc.

July 9, 2003

Sonsub announced that Massimo “Max” Ferraris has been confirmed as Chief Executive Officer (CEO) of Sonsub Incorporated as well as Saipem’s Manager of the Subsea Robotics Business line. He has corporate responsibility for all of the Sonsub group activities, coordinating and directing the regional areas around the world. Mr. Ferraris has also been confirmed to the position of Area Manager- North Atlantic for Saipem. Additionally, the following new appointments have been made: Robert Keith, a veteran of Sonsub since 1987, has been appointed President of Sonsub Incorporated. Mr. Keith most recently served as Sr. Vice President of Operations and Commercial, following more than 3 ½ years as Regional Manager of Sonsub’s business in Asia-Pacific. Mr. Keith has been working in the offshore industry for nearly 30 years and began ROV operations in 1978 with Ocean Systems. Greg McCavanagh has been promoted to the position of Chief Operating Officer (COO) This position will have Mr. McCavanagh responsible for overseeing operations efficiency and effectiveness, ensuring all projects achieve objectives set forth. Having been with the company since 1985, Mr. McCavanagh is being promoted from Sr. Vice President Engineering, Assets and Procurement. BJ Reid has been promoted to the position of Vice President of Engineering. In this capacity, Mr. Reid will oversee facility and marine systems engineering operations. Mr. Reid has been with the company since 1988 and previously held the position of Engineering Manager. Brian Head has been named Senior Assets and Procurement Manager. Mr. Head is responsible for the management of all operation Assets and Equipment, with particular regard to their scheduling, use, maintenance and replacement within the company.

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