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January 4, 2002

MMS reaches FPSO decision
Oglebay Norton Company subsidiary, Oglebay Norton Marine Services Company, LLC, is to pool its fleet operations with those of GATX Corporation subsidiary American Steamship Company. The multi-year agreement provides for the coordination of dispatch and other fleet operations but will not involve the transfer of any assets.

Oglebay Norton Marine Services, LLC owns and operates a fleet of 12 self- unloading vessels and numerous docks and terminals on the Great Lakes. American Steamship Company provides waterborne transportation of dry-bulk commodities on the Great Lakes with a fleet of 11 modern, self-unloading vessels.

Michael D. Lundin, Oglebay Norton Company president and CEO said, "Pooling our resources with American Steamship will enable us to deploy the pooled fleet more efficiently resulting in better service to our shipping and limestone customers. We look forward to building a long-term relationship with American Steamship Company."

American Steamship Company EVP Jerry Welsch said, "Our companies share a long and successful tradition made possible by the commitment of dedicated employees in each of our respective organizations. The pool arrangement is the next logical step toward building a better value for our customer base.''