Foss Maritime Acquires Harbor Marine Group

Foss can now offer full service logistics and project management to their domestic and international customers

SEATTLE, September 6, 2006 – Foss Maritime Company – a Seattle-based marine services company specializing in worldwide marine transportation – announced that it will acquire Harbor Marine Group Inc. – a full service Seattle-based naval architecture and marine engineering consulting firm. Along with their existing suite of services, Foss can now offer full service logistics and project management to their domestic and international customers.

“The addition of Harbor Marine Group is the next step in offering our domestic and international customers a complete range of services. We can now provide our customers with world-class maritime transportation services as well as complete project management and logistics services,” said Andy Stephens, VP of Shipyards, Engineering, and Project Management. “It is a natural extension of the vessel conversion, repair, and new construction business already offered by our two shipyards.”

The new line of business will operate under the Harbor Marine Group name as a division of Foss Maritime Company. Harbor Marine Group principals David Dumont and Elizabeth Reynolds have both accepted positions at Foss. Mr. Dumont has been named director of Harbor Marine Group, and Ms. Reynolds has been named director of Foss engineering.

“We are pleased at the opportunity to offer our engineering and project management expertise to Foss’ domestic and international tug, barge and project management customers while also enhancing service to our existing customers throughout the West Coast,” said David Dumont, newly appointed director of Harbor Marine Group.

“We are excited about the possibilities this acquisition will afford us,” said Foss Executive Vice President Gary Faber. “Foss can now effectively provide cradle-to-grave engineering services, starting with feasibility calculations in the analysis stage, to developing drawings and prototypes in the design phase, to outfitting an existing vessel or building a new vessel to meet our customers’ needs.”