GULF OFFSHORE 2002
June 5 & 6, 2002
Grand Casino Biloxi-Islandview Hotel
Biloxi, MS

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May 16, 2002

Heidenreich enters lightering market
Heidenreich Marine Inc., Darien, Connecticut, announced yesterday that, it has formed Heidenreich Lightering Services Inc. (“HLSI”). HLSI will be a subsidiary of the new Heidmar Inc. (“Heidmar”) and will provide crude oil lightering services to refiners, oil companies and trading companies in the Gulf of Mexico. HLSI will be located Houston, Texas.

Jim Bailey, president of HLSI was most recently director of marketing for Quorum Business Solutions, Inc in Dallas. From1988 through 1998, he was general manager of transportation & logistics and then senior manager of marketing for Fina Inc.

Assisting Bailey will be Jim Enright as VP of marketing and business development, Zachary Newell as VP of logistics and James Varley as technical director, operations.

Enright has held various management positions in supply and transportation for Fina Inc. during the period from 1989 through 1999 and is also a registered professional engineer. Newell was employed in the lightering industry by MTL Petrolink during the period from 1997 to 2001 and most recently was an operations specialist at the shipping brokerage company of Lone Star R. S. Platou. Varley has sailed as a master for Zapata Gulf Marine and as a deck officer for Gulf Trading and Transportation Inc. and most recently has been a senior ship operator and regulatory & environmental manager for Stolt-Nielsen Inc.

Per Heidenreich, chairman and CEO of Heidmar, said, “The formation of a lightering company is a logical addition to our new corporate structure and will further enhance our goal of providing value-added services to our customers and fellow pool partners”.

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