Oct. 16, 2002
WMG Committed to BC Ferries

Vancouver Shipyards Co. Ltd., a member of the Washington Marine Group (WMG), recently outbid foreign competition by a landslide to obtain the awarding of a BC Ferries conversion contract on the Queen of Coquitlam passenger ferry.

"We couldn't afford to have this project go offshore," said David Reid, Vice President, Shipyards. "So WMG invested in its future and the future of the Province with an extremely competitive bid."

The vessel is scheduled to arrive at the company's North Vancouver Panamax Drydock on December 22, 2002. The refit will not be completed until May 20, 2003. This represents local employment for over 200 skilled tradesmen.

The Queen of Coquitlam is the first of five 'C' class ferries to be converted over the next five years and represents a major piece of business for the Panamax facility.

"We want to be a part of BC Ferries' vessel replacement future," said Mr. Reid. "WMG has a good, solid relationship with BC Ferries and looks forward to enhancing it even more with future conversion projects."

"I am extremely pleased to keep this major piece of work in Canada," said Kyle Washington, WMG Chairman and CEO. "I can assure BC Ferries will be more than satisfied with the quality of our work. I am also very proud of the hard work the WMG Shipyard team has put into this bid project under intense competition."

For further information:

David Reid, VP, Shipyards
Washington Marine Group
604-990-3255

The Washington Marine Group is an association of Washington companies primarily involved in coastal and deepsea transportation, ship repair and shipbuilding. For further information visit our website at www.washingtonmarinegroup.com.