Seaboards Notice of Force Majeure To All Customers


September 2, 2005 (2:00p.m.) - Due to the damages caused by Hurricane Katrina and its aftermath, Seaboard Marine, Ltd., for the foreseeable future, is not able to safely operate in the region in and around New Orleans, Louisiana. No cargo is being received, delivered or transported through the affected area. In accordance with Clause 24 of Seaboard Marines Bill of Lading, Exceptions Clause, and any similar provisions incorporated in an applicable ocean shipping service contract, Seaboard Marine is not able to meet any obligations due to this being an Act of God and/or Force Majeure event.

Accordingly, performance under any such bills of lading or customer or ocean shipping service contracts is, to that extent, frustrated and no cause of action for breach or liability will arise as a consequence of this event. We are not able, at this time, to determine the length this Force Majeure will continue. This is a situation beyond our control.

We value all of our customers and regret any suffering that this catastrophe has caused. Mr. Kelvin Troughton and Ms. Pam Showalter will be providing information from our Houston office at 713-821-7400. Please contact Kelvin or Pam if you believe you had cargo in the New Orleans area that was impacted by the storm. We also encourage our customers to immediately advise their cargo underwriters.