FOR IMMEDIATE RELEASE

(September 01, 2002)

The rescue of all 22 crew members of a foundering ship, carried out in difficult conditions in the Arabian Sea, has earned the master and crew of the VLCC Osprey a certificate of commendation from the register's maritime administrator for "outstanding seamanship and courage".

The Osprey, a Marshall Islands registered, 1999 built double-hull tanker of 284,893 dwt, is operated by International Marine Transportation Ltd., an Exxon Mobil Corporation subsidiary company and is manned by British officers and a Filipino crew. Her master is Captain Stephen Williams.

"Captain Williams and his crew did a magnificent job in difficult conditions," said William Gallagher, president of International Registries, Inc., which runs the Marshall Islands register. "They demonstrated outstanding seamanship and courage, in keeping with the finest traditions of the sea. We are proud to have Osprey under the Marshall Islands flag."

The Osprey was on passage in ballast from Japan to Fujairah when she received a distress call on 17August 2002 from the Cambodian registered dry cargo ship Magi. She diverted to the scene and found the Magi in sinking condition. The crew abandoned ship by lifeboat. When the lifeboat's engine failed, in near gale conditions, rough seas with a heavy swell, the Osprey launched its rescue boat. After a difficult tow, which was aided by the tanker maneuvering to create a lee, the lifeboat was brought alongside. The seamen were rescued uninjured.