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July 19, 2004

UPDATE ON SUMMER ACTIVITIES AT VERREAULT NAVIGATION

Following roughly 3 weeks in dry dock for emergency repairs involving significant steel replacement, the SEAWAY MARINE TRANSPORT self-unloader, Algoport, departed Les Méchins in mid June with several newly constructed double bottom modules in place. The three modules, which were required to renew the damaged hull and double bottom areas, were constructed on site in the VERREAULT steel shop, then skilfully and rapidly installed by VERREAULT NAVIGATION workers in order to facilitate a speedy return to operations for the Algoport and her crew.

Immediately following the departure of the Algoport, the Felix-Antoine-Savard entered the dry dock. The S.T.Q. ferry spent just over one week in dry dock for routine inspections and maintenance, as well as major repairs to a damaged Schottel thruster.

Most recently, the east end of the dry dock was occupied twice with consecutive visits by QUÉBEC CARTIER MINING's Vachon and EASTERN CANADA TOWING's, Pointe-Sept-Îles. As with the Felix-Antoine-Savard, both tugs were dry-docked primarily for regular maintenance and inspections and in both cases, necessary repairs were completed in under two weeks.

In keeping with the active schedule maintained during the past six months, the Summer season doesn't show any signs of slowing down, with impending visits by the OCEANEX ro/ro containership, Cicero, COGÉMA's rail ferry, Georges-Alexandre-Lebel and a further two S.T.Q. passenger/auto ferries still on the horizon.

Should you wish any further information on this project or would like to have a quote for any work you are planning for the future, do not hesitate to contact us at:

Verreault Navigation inc.
146 Rue Principale
Les Méchins, (Québec)
Canada
G0J 1T0

Phone: 418.729.3733
Fax: 418.729.3285

serge.desrosiers@groupeverreault.com

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