FIRST VESSEL: PRICE APROX. EUROS 67,5 MILL.

DELIVERY TIME : 22 MONTHS AFTER SIGN SPA – PAYMENT 5 X 20%

&

SECOND VESSEL: OTHER SHIPYARD: PRICE APROX. EUROS 67,5 MILL.

DELIVERY TIME : 22 MONTHS AFTER SIGN SPA – PAYMENT 1 X 20% + 1 X 80% -DELY

3. Price:

. The price of the firm Vessel, net of any kind taxes and/or withholdings, to the buyer (“the price” ) is € 67.500.000 ( Euro Sixty-Seven Milion, five hundred thousend ).

. The price conditions of the transaction offered are subject to the aplicatipn and implementationof a financial Spanish Tax Lease scheme already approved with the aim of developing the European (EU) maritime transport activity existing on the date of submitting the Offer according EU Directives.

. In practice, the tax lease is implemented through the creation of an Economic Interest Group (EIG), witch leases a vessel to a shipping company through a bareboat charter. The EIG is allowed to accelerate depretiation of the vessel for tax purposes before the vessel enters into operation.

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