Crowley’s Pending Sale of its South America Liner Services to Hamburg Sud Will Result in Business as Usual

(JACKSONVILLE, FL; August 9, 1999) Crowley Maritime Corporation (CMC) and Hamburg Suedamerikanische Dampfschifffahrtsgesellschaft Eggert & Amsinck (Hamburg Sud) announced today that they have reached agreement in principle on the acquisition of Crowley American Transports (CATs) South America liner services by Hamburg Sud. CAT is a wholly owned subsidiary of CMC.

The purchase will comprise the business in the trade lanes between the US Atlantic/Gulf and South America East Coast, West Coast and Venezuela. The transaction is expected to be finalized by October 1.

“Crowley American Transport is widely recognized as the premier carrier in the trade, and we plan to continue to operate the services in the same successful fashion under the well reputed brand name of Crowley American Transport (CAT),” said Joachim Konrad, Hamburg Sud Executive Board Member. “CAT is not only ISO 9002 registered in several South America locations, but has also received numerous industry awards for quality and service. We will continue to be innovative and a leader in these trades serving our clients in the same excellent way they are used to from CAT.”

In addition, Konrad said that Hamburg Sud would assume control of all CAT offices and personnel in South America. This applies also to the personnel and office facilities in the United States which are related to the South America services.

The CAT South America liner services in the United States will remain separate from the other Hamburg Sud activities, including Columbus Line and Alianca.

Crowley will continue to operate its services between the United States and Puerto Rico, the Caribbean Islands and Central America, said CMC Chairman, President and CEO Tom Crowley, Jr.

“We want to assure all of our customers in these trades that they will continue to benefit from CATs ISO 9002 certified quality service product,” Crowley said. “Our customers will still have frequent, fixed-day-of-the-week sailings; fast transit times; the most modern, diverse and reliable equipment fleet in the trade; centralized Freight Services, including Booking & Rates, Documentation and Customer Service, and the ability to make bookings, get rate quotes, track cargo and print bills of lading in their own offices via the Internet.”

“The sale of our South America liner services to Hamburg Sud will further strengthen CMC and allow for future investment, service innovation and concentration of assets in our core service areas,” Crowley concluded.

HAMBURG SD The Shipping Group is a member of the Oetker Group of Companies, with headquarters in Bielefeld, Germany. The Oetker Group itself comprises about 200 firms with an unusually broad diversification. In addition to the core business of foodstuffs, the activities of the Oetker Group range from breweries to sparkling wine producers, from merchant banks to an insurance company and from top European hotels to shipping. Hamburg Sud is parent company to Columbus Line, which provides modern marine transport and intermodal logistics services linking North America and established and emerging markets in the Southern Hemisphere including Australia, New Zealand and both coasts of South America. Additional information about the corporation, its subsidiaries and business units may be found on the Internet at www.hamburg-sued.com.

Oakland-based Crowley Maritime Corp., founded in 1892, is primarily a family- and employee-owned company engaged in integrated logistics, marine transportation and related services. The corporation, with more than 100 offices in major ports and cities around the world, has five primary operating subsidiaries: Crowley American Transport, Crowley Marine Services, Crowley Petroleum Transport, Vessel Management Services, and Crowley Logistics.