PricewaterhouseCoopers To Advise BC Ferries

Maritime Activity Reports, Inc.

July 21, 2000

British Columbia Ferry Corp. (BC Ferries) has elected PricewaterhouseCoopers as its exclusive advisor and manager for the sale of the PacifiCat fast ferries. A Crown Corporation of the Provincial Government, BC Ferries' subsidiary - Catamaran Ferries International (CFI) - was established in 1996 to construct the PacifiCats for BC Ferries. It was this past March that the Government proclaimed its intent to denounce CFI and sell the PacifiCats.

The vessel trio, known as PacifiCat Explorer, PacifiCat Discovery and PacifiCat Voyager, are among the largest passenger/vehicle fast ferries internationally. Fully loaded, these 400 ft. (122 m) vessels can transport 1,000 passengers and 250 automobiles at a speed of 34 knots. BC Ferries put two of the ferries into light service over the past year; the third vessel is scheduled to complete sea trials later this month.

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