Ms. Evelyn Soon, Business Development Manager, IRI Singapore Branch

FOR IMMEDIATE RELEASE

(December 23, 2003)

International Registries (Far East) Ltd., the Maritime and Corporate Administrator of the Marshall Islands, has opened a branch office in Singapore to service the growing demand from South East Asian clients.

Growth in the overall ocean freight market and a growing number of vessels joining the Marshall Islands Registry from owners in the region triggered expansion in the region.

“Our rapid growth in new registrations in the South East Asian region means that we have to expand our network to provide on-the-spot service to our customers. It is part of our global strategy to be closer to our customers and this is the first new branch office in the Asian region. We will be opening others in due course,” said Peter Wong, Managing Director of IRI (FE) Ltd., and Senior Deputy Commissioner of the Marshall Islands.

The Singapore Branch Office will be operated by Ms. Evelyn Soon, Business Development Manager and Ms. Shenon Foo, Corporate Administrator. Singapore Land Tower is located in the heart of the financial and banking area of Singapore’s Central Business District. The office will provide both maritime and corporate services with support from IRI's regional office in Hong Kong.

“We are looking to add two more maritime specialists to our Singapore office in the near future to further strengthen our service levels to customers,” added Mr. Wong.

Singapore Branch Office Address and Details:

International Registries (FE) Ltd. Singapore Branch
50 Raffles Place
#22-03 Singapore Land Tower
Singapore 048623
Tel: (65) 6226-2726
Fax: (65) 6226-2511
General E-mail: singapore@register-iri.com

Contact:
Ms. Evelyn Soon - Business Development Manager, E-mail: esoon@register-iri.com
Ms. Shanen Foo - Corporate Administrator, E-mail: sfoo@register-iri.com