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New Line for NORAC

Maritime Activity Reports, Inc.

September 5, 2003

NORAC, a supplier of marine interior systems, has decided to expand its offerings into marine furniture by securing a majority stake in Nordic Marine Furniture, a quality furniture and fittings company dedicated to merchant shipping and offshore installations.

Nordic Marine Furniture (NMF) has signed an agreement with Philippine-based furniture and interior company, T&H Furnishing Industries, owned by the Japanese corporation, Tsuneishi Heavy Industries, for the supply of standard and customised products. Additionally, NMF has established NORAC as the global, exclusive distributor of its product line.

NMFs product line includes mess tables,coffee tables, radio equipment and chart tables, chairs, dressers, sideboard, writing desks, bookcases, beds, chest of drawers, iron safe case, card table and electric refrigerator case.

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