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Silversea’s President Steps Down

Maritime Activity Reports, Inc.

December 13, 2001

Silversea Cruises announced that Bill Smith will step down from his position as president of the company, effective December 15th to pursue personal interests. Smith stated that given the company's success, and with his personal objectives having been accomplished, it is a good time to move on. Smith joined Silversea in March 1995 as senior vice president, sales and marketing, and was named president in November 1995. During his tenure as President, Silversea established its worldwide reputation for excellence. The line expanded from a two-ship to a four-ship fleet. Silversea CEO Albert Peter expressed his appreciation for Smith's important contributions to the development of the company.

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