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New Version of ABS SafeNet Released

Maritime Activity Reports, Inc.

June 4, 2002

ABS has released the new, Version 3.0 of its ABS SafeNet Survey Status program to more than 1,000 ship and vessel owners worldwide. "This version establishes a new industry standard for user friendliness and operational efficiencies," said Gary Latin, ABS Senior Vice President and Chief Information Officer. There are a number of new features incorporated into the web-based application, many as a result of valuable feedback from existing users. These include the ability for the shipowner to delegate access to the complete survey database of one or all the vessels within its fleet to any number of additional users, including each of the ships. Each vessel can be granted on-board access to its own survey status without the need for any on-site installation or maintenance. Another key feature is the Fleet Planning facility, believed to be unique in the manner in which it provides an owner/manager with a complete, quick and easily understood presentation of any or all surveys, dry dockings and repairs for the entire fleet for any specified period to facilitate budgeting and forecasting. "Many owners of ABS-classed vessels have told us that this feature will greatly enhance their ability to plan the survey requirements, and associated costs, for their entire fleet so that schedules and budgets can be optimized," said Latin. The new version of SafeNet is also integrated with the on-going ABS Office 2000 program that is progressively introducing a comprehensive, IT-based system that underpins all survey activity from scheduling, to process instructions to invoicing throughout the entire ABS global network of more than 200 representative offices. "Version 3.0 provides owners with real time information," Latin explained. "As soon as the work order for a survey is issued, SafeNet shows that survey as being in progress. With the demands being made upon the IACS societies for greater transparency of information, this will place accurate information into the system on a real-time basis. The benefit to an owner is that it will prevent a vessel from being listed with overdue surveys just because the handling of the paperwork lags behind what has already happened on board, as can occur in traditional manual reporting and filing systems."

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