November 25, 2003

MTC Holdings has announced that effective Jan. 1, 2004, Stevens Shipping & Terminal Co., contract stevedore and terminal operator in the U.S. Southeast since 1930, will operate under the Marine Terminals Corp. (MTC) brand.

In making the announcement, Douglas Tilden, MTC president/CEO, explained how the renaming represents MTC Holdings' domestic expansion to the east and gulf coasts.

"Renaming Stevens Shipping to Marine Terminals Corp. will provide increased focus, visibility and strength to Stevens' established history and trusted image," Tilden said. "The MTC East Coast business will continue to maintain headquarters in Savannah, Georgia, and operate as a separate subsidiary. However, it will now more accurately be aligned with the core values of MTC Holdings and its subsidiary companies. This alignment will strengthen our business relationships by providing greater transparency, improve communications channels with our customers and partners, and integrate the broader service offerings and network of resources available through MTC's many partnerships and affiliates in insurance, warehousing, information technology, and equipment."

Alfred C. Giannetti, MTC Holdings executive vice president, will head up the East Coast business from the Savannah executive offices, newly relocated to 145B Southern Blvd., Savannah, GA 31405.

"We are very pleased to bring together the strengths of these two well-respected and talented companies under one banner to the benefit of our customers," Giannetti said. "However, we recognize that each operation's site is unique. As MTC, we will continue to maintain and nurture the culture of localized personal service upon which our customers have come to depend and expect. Stevens Shipping enjoyed a long-established history of quality stevedoring and terminal operations in the Southeast with valued relationships and associations with its customers, vendors and the industry. These relationships will not change, nor will our experienced management teams. Our customers can be assured we remain committed to earning their continued loyalty and building long-term relationships based upon integrity and a superior level of service."

MTC Holdings purchased Stevens Shipping in May 2001 as part of its domestic growth strategy. Ports covered on the East Coast currently include Wilmington, N. C.; Charleston, S. C.; Brunswick and Savannah, Georgia; and Jacksonville, Fla.

Oakland-headquartered Marine Terminals Corp., established in 1931, provides the shipping community with a comprehensive network of stevedoring, terminal operations and related cargo-handling services in 26 West Coast locations for all major cargoes, including containers, automobiles, refrigerated commodities, steel, forest products, general cargo, bulk, rolling stock, yachts, heavy lifts and special projects. MTC's diversified services to the transportation industry are enhanced and expanded through their many affiliates that specialize in, insurance, warehousing, equipment, M&R, and software development.

MTC's information management systems include additional strategic alliances and joint ventures geared toward leading edge, interactive, Web-based applications for the maritime environment and international operations. And, MTC continually invests major capital to optimize the necessary infrastructure to meet its clients' needs. For additional information, please call or visit: www.mtcorp.com.

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