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McAlear Named CEO Of Kvaerner Philadelphia Shipyard

Maritime Activity Reports, Inc.

October 26, 2000

Kvaerner, the Anglo-Norwegian engineering and construction Group, has elected Ronald J. McAlear, as CEO of its Philadelphia Shipyard. He replaces Baard Bale, who has been acting CEO of the yard since June, and will be returning to Kvaerner's international headquarters in London in December. McAlear has spent his entire professional career in the maritime industry, and currently holds a senior executive position with Litton Avondale Industries. He will assume his new position with Kvaerner in Philadelphia at the beginning of November.

McAlear, a well-known figure within the U.S. shipbuilding industry, boasts a solid background in shipbuilding, ship repair, ship-operations and marine equipment marketing and manufacturing. He has held a number of senior positions with Avondale since 1988, and is currently vice president of Operations, reporting to the president of the company.

McAlear's appointment is expected to make the yard, which has been touted as one of the most state-of-the-art shipyards currently in operation, a solid investment for both customers, and future prospective owners.

Trained in naval architecture and marine engineering at the Massachusetts Institute of Technology, and the University of Michigan, McAlear also undertook various management courses at Harvard, Tulane University and the University of New Orleans. He is a member of the American Society of Naval Architects and Marine Engineers and has an affiliation with the Propeller Club, the American Society of Naval Engineers, the Navy League, and the Surface Ship Navy Association. McAlear is also licensed in the state of Louisiana as a Professional Engineer.

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