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We have strengthened our sales and customer service network with the establishment of wholly-owned agency subsidiaries in a number of European countries.

MacAndrews Germany GmbH and MacAndrews Belgium NV are now operational, based in Hamburg and Antwerp respectively. In August, MacAndrews Holland BV will open, based in Rotterdam. All three will be wholly-owned subsidiaries of MacAndrews & Co Ltd (London).

In all three countries, we have retained sales and customer service representatives from our former agencies, ensuring continuity of service. In addition, a significant number of new recruits will also be employed.

The initiation of new agency companies marks an important phase in the development of our liner shipping network in Europe. To date, we have been represented by our own wholly-owned agency companies only in Poland, Portugal, Spain and the United Kingdom. In other markets that we serve, we have been represented by agency companies from within the CMA CGM Group, as well as independent third party organisations.

Countries in North West Europe play an increasingly important role in the container shipping services that we offer to importers and exporters. Ships operating our short-sea services call at Rotterdam and Hamburg. In addition our EPIC service between Europe, the Middle East and the Indian sub-continent calls at Antwerp and Hamburg.

We believe that the establishment of wholly-owned agencies in Belgium, Germany and Holland is very important and will enable us to enhance our presence among customers in all three countries. It will help us to ensure that our customers receive the most comprehensive package of high quality services.

But this is just the start, we are reviewing our agency operations in all the markets that we serve. We will develop an agency structure that can support the significant growth aspirations that we have for MacAndrews services and container carryings going forwards as we continue to expand from our core European services.

The General Manager of MacAndrews Germany GmbH is Bettina Schmidtke. The agency can be contacted at Neuer Dovenhof, Brandstwiete 1, 20457 Hamburg. Germany. Tel: +49 40 689 889 0 Fax: +49 40 689 889 10

The General Manager of MacAndrews Belgium NV is Patrick Dillen. The agency can be contacted at Stijfselrui 36 bus 2, 2000 Antwerp, Belgium. Tel: +32 3 202 3924 Fax: +32 3 202 3949

The General Manager of MacAndrews Holland BV is Fred Zuyderwijk. The agency can be contacted at Rivierweg 1, 3161 GM Rhoon, Holland. Tel: +31 10 299 8199 Fax: +31 10 299 8198


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