April 14, 2005

Marine Terminals Corp., along with many other terminal operators and shipping lines involved in the handling of ocean-borne imported cargo flowing through the U.S. West Coast, is concerned about the long-term congestion and strain on the area's infrastructure. Many infrastructure issues are outside of their control, yet impact their ability to service their customers efficiently.

Marine Terminals reacted to an erroneous report which appeared in the L.A. Times on April 9, 2005.

"MTC is looking at a number of alternatives to deal with transportation infrastructure problems, including the development of alternative gateways such as Mexico," said company Executive Vice President Walter Romanowski. "However, MTC has reached no conclusions and has had no specific discussions or agreement with any customers. References to specific ocean carriers and MTC customers in the press report was completely erroneous and are regrettable. "

MTC President Doug Tilden further commented, "MTC is very committed to its core operations on the U.S. West Coast. We believe that we will be able to achieve significant improvements in terminal throughput as we implement new technologies in 2005. These technologies were enabled by the 2002 ILWU contract, and we applaud the vision of the ILWU in helping to achieve greater utilization of our limited port assets. We are also encouraged by business practice changes that are in the works, such as PierPASS, reduced free time and chassis pooling.

"However when we look at the totality of the infrastructure that supports the nation's foreign trade, we are deeply concerned that the infrastructure will support even modest growth. A 10 percent growth rate means we have to create additional infrastructure capacity equal to the current capacity of the ports of Savannah and Tacoma combined every year. I do not think that any reasonable person could believe that we can accomplish this in the current environment of negligible port growth and serious funding issues related to inland infrastructure."

About Marine Terminals Corp.
Oakland-headquartered Marine Terminals Corp., a family-owned contract stevedore and terminal operating company, has served the U.S. West Coast shipping community since 1931 and the U.S. East Coast since 2001. Combined, MTC has stevedoring and terminal operations in more than 26 West Coast locations and five East Coast ports.

MThe company handles more than six million TEUs per year in addition to providing a comprehensive network of stevedoring, terminal operations and related cargo-handling services for automobiles, refrigerated commodities, steel, forest products, general cargo, bulk, rolling stock, yachts, heavy lifts, military and special projects. MTC's diversified services to the transportation industry are enhanced and expanded through joint ventures with major ocean carriers and their many affiliates that specialize in insurance, warehousing, equipment, M&R, and software development.

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