FOR IMMEDIATE RELEASE

(March 30, 2004)

MARSHALL ISLANDS PROVIDES ISPS CODE UPDATE TO HONG KONG SHIPOWNERS ASSOCIATION

The Marshall Islands Ship Registry is leading the way in Asia to provide updated information about the ISPS Code and related security information to the maritime industry.

Bill McCuskey, Marshall Islands Deputy Commissioner of Maritime Affairs was the only overseas maritime registry representative invited to speak at a recent conference organized by the Hong Kong Shipowners Association.

The conference entitled ‘Learning to Live with the ISPS Code’ was aimed at informing Hong Kong shipowners about the latest developments in ISPS Code implementation and compliance.

“Time is short. The deadline for compliance with the ISPS Code is July 1st and the industry has to understand how the Code affects them. We launched a campaign in 2003 to inform our customers and the industry at large about compliance and implementation issues,” said Mr. McCuskey.

“We are honored to be invited to the Hong Kong Shipowners’ Association seminar, it reflects well on our efforts to be an acknowledged source of information about the ISPS Code,” added Mr. McCuskey.

The global campaign by International Registries, Inc. (IRI), the Maritime and Corporate Administrators of the Republic of the Marshall Islands, has included maritime security seminars in New York, London, Hamburg, Piraeus, Santiago, Singapore, Dalian and Shanghai.

Safety Advisories and Marine Notices in relation to the ISPS Code, Automatic Identification Systems, Ship Security Alert System, Continuous Synopsis Record and other maritime security related issues are regularly updated on the Marshall Islands website.