As the CEO of the Stanford Marine Group, I am pleased to give a brief on our Group.

2010 was a record year for profitability and safety. I congratulate our employees for this historic achievement despite the continuing structural challenges in the aftermath of the global financial melt down.

EBITDA grew by 22%. Most importantly, however, our safety culture has continued to improve, resulting in better lives for all of our employees and their families. Following a strategic review of the business in early 2010, we have successfully refocused our Company on the core Marine activities of chartering, building, and maintenance of Offshore Supply Vessels (OSVs) and have decided to divest or spin-off our non-core, lower margin Engineering activities.

More details on each company can be found on our website.

Elias Nassif, 

CEO & President