St. Lawrence Seaway Appoints Market Development Director to Seek New Business

January 12, 2004

Cornwall, January 12, 2004 – The St. Lawrence Seaway Management Corporation announced today the appointment of Mr. Aldert van Nieuwkoop to the newly-created position of Director, Market Development, effective immediately.

“A new market development approach is key to our objective of business growth,” said Richard Corfe, President of The St. Lawrence Seaway Management Corporation. “Mr. van Nieuwkoop will be leading this effort for the Corporation. He will identify business opportunities and work with our partners in the marine industry to bring new cargoes and increased traffic to the Great Lakes/Seaway system.”

Mr. van Nieuwkoop, who will be based in St. Catharines, has extensive experience as a shipping executive, with a proven track record of successfully developing and sustaining new business in domestic and international markets. His last position was Vice President, Sales and Contracts, at Global Marine UK Ltd. of Aberdeen, Scotland, where he took a leadership role in building company sales growth and strategic alliance initiatives. He has also served as Director of Sales and Contracts with Global Marine Drilling Corp., the Hague, Netherlands, Managing Director of Shipkits International B.V., London, England, and International Marketing Manager of A&P Appledore Ltd., also in London, England.

Mr. van Nieuwkoop has BSNav and BSMechEng Degrees from the Maritime Institute of the Netherlands and a Shipping Economics Degree from the London School of Economics. He is currently finishing his Executive MBA at Queens University, Kingston.

“We are particularly pleased that Mr. van Nieuwkoop is knowledgeable about inter-modular transportation markets and container traffic,” commented Mr. Corfe. “These are key areas for the Seaway and his work will add significant value to our market development initiatives.”