Soundview Maritime Acquires New Talent after a Global Search

News Release RSR Partners March 25, 2011

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<DIV>Soundview Maritime Announces Engagement of Dr. Moritz Mittelbach as
Strategic Advisor Mar 8, 2011 8:16PM GMT The
Journal of Commerce Online - Press Release GREENWICH, Conn.,
March 8, 2011 /PRNewswire/ -- Soundview Maritime, LLC, an owner and operator of
mid-sized container ships for charter to leading global ocean and intermodal
transportation companies, today announced it has engaged Dr. Moritz Mittelbach,
a maritime industry veteran, as its exclusive strategic advisor. In this role,
Dr. Mittelbach will advise Soundview on the purchase, financing, and long term
charter of container vessels as well as other strategic initiatives to grow and
improve the company. Littlejohn & Co. and Northern Shipping Funds
(Northern) established Soundview Maritime in 2010 and have made equity
commitments that enable the acquisition of between 10 and 20 containerships in
the 1,000 to 4,000 TEU range. The Company seeks to create a world-class provider
of container tonnage for leading container liner companies globally. Soundview
has acquired three vessels to date – M/V Cove Island, M/V Shippan Island and M/V
Louds Island – which are all on charter to top tier liner companies. Prior to
Dr. Mittelbach joining Soundview, Erling Sorhaug of Oslo Norway served as
interim CEO. Soundview is organized as a Marshall Islands limited liability
company. "After conducting an extensive global search, Littlejohn and
Northern are very pleased that Dr. Mittelbach has agreed to advise Soundview on
an exclusive basis. He has had a very successful career in the maritime industry
where he has combined his financial, strategic and commercial skills to build
successful containership operators. His initial focus will be on refining
Soundview's strategy, advising on the acquisition of additional new and
second-hand vessels, and further building management and operational
capabilities," said Edmund J. Feeley, a Managing Director at
Littlejohn. Dr. Mittelbach said, "Soundview represents an exciting
opportunity to work with Littlejohn and Northern to create a company that is
well positioned to capitalize on structural changes in the container shipping
industry." Since 2001, Dr. Mittelbach served with Rickmers Holding GmbH,
a diversified group with activities in liner shipping, ship owning, and ship
management. He held a number of senior positions with the company, most recently
as Partner and CFO since 2005. During this time, Rickmers Maritime conducted an
IPO in 2007 at the Singapore Stock Exchange. Prior to joining Rickmers, he
worked in the corporate finance department of Landesbank Hessen Thuringen
(Helaba) in Frankfurt and began his career at Eurasia Shipping & Management
Co., Ltd. in Hong Kong. He studied law at the University of Munich and Tubingen
and has a PhD degree in marine insurance from the University of
Hamburg. About Northern Shipping
Funds Northern Shipping Funds is a leading alternative capital
provider to the shipping and offshore oil service sectors. Northern is an asset
based investor with flexibility to invest in debt, equity and hybrid structures.
For more information, please visit www.northernshippingfunds.com. About Littlejohn &
Co. Littlejohn & Co. is a Greenwich, Connecticut-based
control-oriented private equity firm seeking investment opportunities in
middle-market companies that are undergoing a fundamental change in capital
structure, strategy, operations or growth that can benefit from its operational
and strategic approach. The firm is currently investing from Littlejohn Fund IV,
L.P., which has over $1.3 billion in capital commitments. For more information,
visit www.littlejohnllc.com. </DIV></BODY></HTML>