VT Halter Marine Awarded Contract to Build Four More Articulated Tug Barge Units for Crowley

Pascagoula, MS, August 26, 2005 – VT Halter Marine Inc., a subsidiary of Vision Technologies Systems Inc., today announced it has secured a contract to build four more articulated tug barge (ATB) units for Crowley Maritime Corporation’s subsidiary, Vessel Management Services Inc.  The vessels, which include the cost of owner furnished equipment, are valued at approximately $190 million and are expected to be completed in about 36 months.

VT Halter Marine’s growing partnership with Crowley now includes a total of six ATBs ordered recently, all of which are being built for use by Crowley’s newly formed petroleum services segment. The first two units ordered under a June 2004 contract are currently under construction and are expected to be delivered in 1H2006 and 2H2006 respectively. Work under this new contract for Crowley’s third to the sixth ATB units is scheduled to begin in 3Q2005 and deliveries expected at regular intervals between 1H2007 and 2H2008.

Tugs and barges built under the new contract will be interchangeable with all vessels in Crowley’s ATB fleet.

 An ATB is built with an articulated connection system between the tug and barge that allows movement in the critical areas of fore and aft pitch.  Each unit consists of a 9,620 BHP ocean-going tug and a 185,000-barrel barge.  The US flagged vessels are 135’ x 42’ x 23 ABS Classed +A1, +AMS, SOLAS, ACC, Full Ocean Towing Service, USCG Inspected Subchapter C and will measure under 500 Gross Tons US. The barges will be 587’ x 74’ x 40’. These ATB units will be built to fully comply with the double hull requirements of the Oil Pollution Act of 1990 and will have sophisticated product, heated cargo and chemical capabilities as well as ballast exchange and cargo inerting systems.

"This is yet another example of our commitment to invest in new equipment and technology to meet the current and future needs of our customers. We are pleased to be working with VT Halter Marine, and appreciate all of the hard work, commitment and shipbuilding skills that the men and women of VT Halter Marine invest in each project.” 

~Tom Crowley Jr.

 Chairman of the Board, President and Chief Executive Officer

Crowley Maritime Corporation

“VT Halter Marine values the trust that Crowley Maritime Corporation has invested in its shipbuilding capabilities. We will strive to exceed their expectations by supplying high quality, state of the art ATB units.  We take pride in our commitment to provide cost effective solutions and superior customer service.”

~Boyd E. King

Chief Executive Officer

VT Halter Marine

About Crowley Maritime Corporation

Oakland-based Crowley Maritime Corporation, founded in 1892, is primarily a family and employee-owned company that provides diversified transportation and logistics services in domestic and international markets by means of three operating lines of business: Liner Shipping Services; Ship Assist and Escort Services; Petroleum Services and Energy and Marine Services. Other services provided within these business lines include logistics; contract towing and transportation; ship assist and escort; energy support; salvage and emergency response; vessel management, and petroleum and chemical transportation, distribution and sales. Additional information about Crowley its subsidiaries and business units may be found on the Internet at www.crowley.com.

Vessel Management Services, which is part of Crowley’s corporate services segment, provides technical project support services involving naval architecture and marine engineering, contracting, on-site representation for ship, tug and barge construction and ownership of new vessels for the parent company.

About VT Halter Marine

VT Halter Marine is the marine operations of Vision Technologies Systems (VTS).  Based in Pascagoula, Miss., it is a leader in the design and construction of medium-sized ships in the United States. VT Halter Marine designs, builds and repairs a wide variety of ocean-going vessels such as patrol vessels, oil recovery vessels, oil cargo vessels, ferries, logistic support vessels and survey vessels.  Please visit www.vthaltermarine.com.

Vision Technology Systems (VTS) is a provider of integrated engineering solutions, specializing in the fields of aerospace, electronics, land systems, and marine. Headquartered in Alexandria, Va., VTS has locations throughout North America. VTS offers a broad range of proven innovative services to both the commercial and government sectors. VTS is a wholly owned subsidiary of Singapore Technologies Engineering Ltd.

Please visit www.vt-systems.com.

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