Exmar Sells to Kosan

Maritime Activity Reports, Inc.

June 15, 2006

Exmar confirms that it has sold four times 50 percent of its Lady Class vessels (3500m3) to its partner and co-owner Kosan. This sale results in a profit of about $10m and a net cash proceeds of $15m. Exmar still plans separate listing for Exmar Offshore. Exmar announces that it is still working on a separate listing for Exmar Offshore, which will be implemented later in the year when hopefully the stock market will be less volatile.
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