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Pacificat Trials For Potential Buyers

Maritime Activity Reports, Inc.

January 28, 2003

BC Ferries’ PacifiCat Explorer will be operated on limited trials between the end of January and early March to enable interested buyers to experience the vessels in operation. The trials will be conducted between Departure Bay and Horseshoe Bay and will be open to legitimate, potential bidders only. Interested buyers must contact Ritchie Bros. at (604) 273-7564 to participate in the trials. Additional trials will also be made available to registered bidders who have made a deposit of $2 million US. On January 9, BC Ferries announced that Ritchie Bros. Auctioneers had been selected to sell the three PacifiCat fast ferries at an international unreserved auction in Vancouver on March 24, 2003. Marine consultant, Stephen Phillips, managing director of Seaspeed Technology Limited, of the U.K. and a specialist in fast ferries will assist with this global effort.

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