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Delivery of Damen SWATH 3717 Close

Maritime Activity Reports, Inc.

March 5, 2004

The construction of the two Damen SWATH's 3717 for the Province of Zeeland at the Vlissingen yard Royal Schelde, a member of the Damen Shipyards Group, is progressing with completion in sight.

Only two important tests remain to be completed: the embarkation and disembarkation trials with 181 passengers and the 10 hour endurance test. Both trials will be completed not later than the first week of February. After completion and approval, the SWATH will be delivered to the Province of Zeeland.

The first SWATH Prinses Máxima as well as the second, SWATH Prins Willem Alexander will be named on March 13 by the Dutch Minister of Transport and Communications, K.M.H. Peijs. The first SWATH will be delivered upon its naming. The delivery of the second vessel 'Prins Willem Alexander' is scheduled for the first week in April 2004

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