PANAMA CANAL AND PORT EVERGLADES RENEW PARTNERSHIP
News Release
Panama Canal Authority
August 5, 2011
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<P style="TEXT-ALIGN: center" class=MsoNormal align=center><B><I><SPAN
style="TEXT-TRANSFORM: uppercase; FONT-FAMILY: 'Arial','sans-serif'; COLOR: black; FONT-SIZE: 12pt">Renewed
Alliance Underscores Commitment to Growth and Mutual Benefits</SPAN></I></B></P>
<P style="MARGIN-BOTTOM: 12pt" class=MsoNormal><B><I><SPAN
style="TEXT-TRANSFORM: uppercase; FONT-FAMILY: 'Arial','sans-serif'; COLOR: black"></SPAN></I></B> </P>
<P style="MARGIN-BOTTOM: 12pt" class=MsoNormal><B><SPAN
style="TEXT-TRANSFORM: uppercase; FONT-FAMILY: 'Arial','sans-serif'; COLOR: black; FONT-SIZE: 10pt">PANAMA
CITY, </SPAN></B><B><SPAN
style="FONT-FAMILY: 'Arial','sans-serif'; COLOR: black; FONT-SIZE: 10pt">Panama,
August 4, 2011 – </SPAN></B><SPAN
style="FONT-FAMILY: 'Arial','sans-serif'; COLOR: black; FONT-SIZE: 10pt">The
Panama Canal Authority (ACP) and Port Everglades renewed their strategic
alliance today with the signing of a Memorandum of Understanding (MOU).
</SPAN></P>
<P style="MARGIN-BOTTOM: 12pt" class=MsoNormal><SPAN
style="FONT-FAMILY: 'Arial','sans-serif'; COLOR: black; FONT-SIZE: 10pt">First
signed in August 2009, the MOU, which is renewable for five years, solidifies
both entities’ dedication to growth and best customer practices. </SPAN></P>
<P style="MARGIN-BOTTOM: 12pt" class=MsoNormal><SPAN
style="FONT-FAMILY: 'Arial','sans-serif'; COLOR: black; FONT-SIZE: 10pt">“Our
partnership furthers our shared goal of promoting trade growth in Panama and
Florida,” said ACP Administrator/CEO Alberto Alemán Zubieta. “As we approach the
completion of our expansion, we look forward to pursuing even more mutually
beneficial activities with Port Everglades.”</SPAN></P>
<P style="MARGIN-BOTTOM: 12pt" class=MsoNormal><SPAN
style="FONT-FAMILY: 'Arial','sans-serif'; COLOR: black; FONT-SIZE: 10pt">Areas
of cooperation between the ACP and Port Everglades include joint advertising
programs, data interchange and competitive market analyses of the shipping
industry. This alliance will also continue to promote the “All-Water Route,” the
route from Asia to the U.S. East Coast via the Panama Canal. </SPAN></P>
<P style="MARGIN-BOTTOM: 12pt" class=MsoNormal><SPAN
style="FONT-FAMILY: 'Arial','sans-serif'; COLOR: black; FONT-SIZE: 10pt">Serving
more than 150 ports and 70 countries, Port Everglades generates over $14 billion
worth of business activity and approximately 140,000 jobs in Florida. More than
5.2 million tons of containerized cargo is transported through the Port. With
the expansion of the Panama Canal slated for completion in 2014, it stands to
benefit from anticipated growth.</SPAN></P>
<P style="MARGIN-BOTTOM: 12pt" class=MsoNormal><SPAN
style="FONT-FAMILY: 'Arial','sans-serif'; COLOR: black; FONT-SIZE: 10pt">“Just
as the Panama Canal expansion is moving forward to meet the challenges of the
future, so also is the Port Everglades Master/Vision Plan, providing us with a
roadmap toward meeting those challenges. The strong working relationship between
Port Everglades and the ACP will continue to provide mutual advantages in the
years to come”, said Port Everglades Port Director Phillip C. Allen.</SPAN></P>
<P style="MARGIN-BOTTOM: 12pt" class=MsoNormal><SPAN
style="FONT-FAMILY: 'Arial','sans-serif'; COLOR: black; FONT-SIZE: 10pt">Initially
approved in 2007, the Master/Vision plan is a comprehensive, dynamic roadmap
designed to guide the Port’s growth through an estimated $2 billion in capital
investments over a 20-year period. One major component is the deepening of the
Port’s channels from 42 feet to 50 feet. </SPAN></P>
<P style="MARGIN-TOP: 0.1pt" class=xmsonormal><SPAN
style="FONT-FAMILY: 'Arial','sans-serif'; COLOR: black">Meanwhile, the Canal’s
expansion is well underway, following the recent commencement of the permanent
concrete work for the new Atlantic side locks. The $5.25 billion project
includes the construction of a new set of locks that will allow the transit of
longer and wider ships.</SPAN></P>
<P class=MsoNormal><B><SPAN
style="FONT-FAMILY: 'Arial','sans-serif'; FONT-SIZE: 10pt"></SPAN></B> </P>
<P style="MARGIN-BOTTOM: 12pt" class=MsoNormal><B><SPAN
style="FONT-FAMILY: 'Arial','sans-serif'; FONT-SIZE: 10pt">About Port Everglades
</SPAN></B></P>
<P style="MARGIN-BOTTOM: 12pt" class=MsoNormal><SPAN
style="FONT-FAMILY: 'Arial','sans-serif'; COLOR: black; FONT-SIZE: 10pt">Port
Everglades is one of the nation's leading container ports and a trade gateway to
Latin America and Caribbean. Port Everglades has direct access to the interstate
highway system, is within two miles of the </SPAN><SPAN
style="FONT-FAMILY: 'Arial','sans-serif'; FONT-SIZE: 10pt"><A
href="redir.aspx?C=e892c8f1507842db88164f7f77f59bbb&URL=http%3a%2f%2fwww.fecrwy.com%2fhome.aspx"
target=_blank><B><SPAN style="COLOR: black; TEXT-DECORATION: none">Florida East
Coast Railway </SPAN></B></A><SPAN style="COLOR: black">hub and is just one mile
from the Atlantic Shipping Lanes. Ongoing capital improvements and expansion
ensure that Port Everglades will have the ability to handle future growth in
container traffic. A world-class cargo handling facility, Port Everglades serves
as an ideal point of entry for products shipped around the world. <BR><BR>More
information about Broward County's Port Everglades is available on the Internet
at <A
href="redir.aspx?C=e892c8f1507842db88164f7f77f59bbb&URL=http%3a%2f%2fwww.porteverglades.net"
target=_blank>http://www.porteverglades.net</A></SPAN><SPAN
style="COLOR: #3333ff"> </SPAN><SPAN style="COLOR: black">by calling toll-free
in the United States 1-800-421-0188 or emailing </SPAN><A
href="redir.aspx?C=e892c8f1507842db88164f7f77f59bbb&URL=mailto%3aPortEvergladescargo%40broward.org">PortEvergladescargo@broward.org</A>.
<SPAN style="COLOR: #3333ff"></SPAN></SPAN></P>
<P style="MARGIN-BOTTOM: 12pt" class=MsoNormal><SPAN class=longtext><B><SPAN
style="FONT-FAMILY: 'Arial','sans-serif'; COLOR: black; FONT-SIZE: 10pt">About
the Panama Canal Authority (ACP)</SPAN><SPAN
style="COLOR: black"></SPAN></B></SPAN></P>
<P style="MARGIN-BOTTOM: 12pt" class=MsoNormal><SPAN class=longtext><SPAN
style="FONT-FAMILY: 'Arial','sans-serif'; COLOR: black; FONT-SIZE: 10pt">The ACP
is the autonomous agency of the Government of Panama in charge of managing,
operating and maintaining the Panama Canal. The operation of the ACP is based on
its organic law and the regulations approved by its Board of Directors. For more
information, please visit </SPAN></SPAN><SPAN
style="FONT-FAMILY: 'Arial','sans-serif'; FONT-SIZE: 10pt"><A
href="redir.aspx?C=e892c8f1507842db88164f7f77f59bbb&URL=http%3a%2f%2fwww.pancanal.com%2f"
target=_blank>http://www.pancanal.com/</A><SPAN class=longtext><SPAN
style="COLOR: black">. You can also follow us on Twitter: </SPAN></SPAN><A
href="redir.aspx?C=e892c8f1507842db88164f7f77f59bbb&URL=http%3a%2f%2ftwitter.com%2fthepanamacanal"
target=_blank>http://twitter.com/thepanamacanal</A><SPAN class=longtext><SPAN
style="COLOR: black">.</SPAN></SPAN></SPAN></P>
<P class=MsoNormal><SPAN class=longtext><SPAN
style="FONT-FAMILY: 'Arial','sans-serif'; COLOR: black; FONT-SIZE: 10pt"></SPAN></SPAN> </P></DIV></BODY></HTML>
<HTML><HEAD><TITLE></TITLE>
<META content="text/html; charset=unicode" http-equiv=Content-Type>
<META name=GENERATOR content="MSHTML 8.00.6001.18904"></HEAD>
<BODY>
<DIV>
<P style="TEXT-ALIGN: center" class=MsoNormal align=center><B><I><SPAN
style="TEXT-TRANSFORM: uppercase; FONT-FAMILY: 'Arial','sans-serif'; COLOR: black; FONT-SIZE: 12pt">Renewed
Alliance Underscores Commitment to Growth and Mutual Benefits</SPAN></I></B></P>
<P style="MARGIN-BOTTOM: 12pt" class=MsoNormal><B><I><SPAN
style="TEXT-TRANSFORM: uppercase; FONT-FAMILY: 'Arial','sans-serif'; COLOR: black"></SPAN></I></B> </P>
<P style="MARGIN-BOTTOM: 12pt" class=MsoNormal><B><SPAN
style="TEXT-TRANSFORM: uppercase; FONT-FAMILY: 'Arial','sans-serif'; COLOR: black; FONT-SIZE: 10pt">PANAMA
CITY, </SPAN></B><B><SPAN
style="FONT-FAMILY: 'Arial','sans-serif'; COLOR: black; FONT-SIZE: 10pt">Panama,
August 4, 2011 – </SPAN></B><SPAN
style="FONT-FAMILY: 'Arial','sans-serif'; COLOR: black; FONT-SIZE: 10pt">The
Panama Canal Authority (ACP) and Port Everglades renewed their strategic
alliance today with the signing of a Memorandum of Understanding (MOU).
</SPAN></P>
<P style="MARGIN-BOTTOM: 12pt" class=MsoNormal><SPAN
style="FONT-FAMILY: 'Arial','sans-serif'; COLOR: black; FONT-SIZE: 10pt">First
signed in August 2009, the MOU, which is renewable for five years, solidifies
both entities’ dedication to growth and best customer practices. </SPAN></P>
<P style="MARGIN-BOTTOM: 12pt" class=MsoNormal><SPAN
style="FONT-FAMILY: 'Arial','sans-serif'; COLOR: black; FONT-SIZE: 10pt">“Our
partnership furthers our shared goal of promoting trade growth in Panama and
Florida,” said ACP Administrator/CEO Alberto Alemán Zubieta. “As we approach the
completion of our expansion, we look forward to pursuing even more mutually
beneficial activities with Port Everglades.”</SPAN></P>
<P style="MARGIN-BOTTOM: 12pt" class=MsoNormal><SPAN
style="FONT-FAMILY: 'Arial','sans-serif'; COLOR: black; FONT-SIZE: 10pt">Areas
of cooperation between the ACP and Port Everglades include joint advertising
programs, data interchange and competitive market analyses of the shipping
industry. This alliance will also continue to promote the “All-Water Route,” the
route from Asia to the U.S. East Coast via the Panama Canal. </SPAN></P>
<P style="MARGIN-BOTTOM: 12pt" class=MsoNormal><SPAN
style="FONT-FAMILY: 'Arial','sans-serif'; COLOR: black; FONT-SIZE: 10pt">Serving
more than 150 ports and 70 countries, Port Everglades generates over $14 billion
worth of business activity and approximately 140,000 jobs in Florida. More than
5.2 million tons of containerized cargo is transported through the Port. With
the expansion of the Panama Canal slated for completion in 2014, it stands to
benefit from anticipated growth.</SPAN></P>
<P style="MARGIN-BOTTOM: 12pt" class=MsoNormal><SPAN
style="FONT-FAMILY: 'Arial','sans-serif'; COLOR: black; FONT-SIZE: 10pt">“Just
as the Panama Canal expansion is moving forward to meet the challenges of the
future, so also is the Port Everglades Master/Vision Plan, providing us with a
roadmap toward meeting those challenges. The strong working relationship between
Port Everglades and the ACP will continue to provide mutual advantages in the
years to come”, said Port Everglades Port Director Phillip C. Allen.</SPAN></P>
<P style="MARGIN-BOTTOM: 12pt" class=MsoNormal><SPAN
style="FONT-FAMILY: 'Arial','sans-serif'; COLOR: black; FONT-SIZE: 10pt">Initially
approved in 2007, the Master/Vision plan is a comprehensive, dynamic roadmap
designed to guide the Port’s growth through an estimated $2 billion in capital
investments over a 20-year period. One major component is the deepening of the
Port’s channels from 42 feet to 50 feet. </SPAN></P>
<P style="MARGIN-TOP: 0.1pt" class=xmsonormal><SPAN
style="FONT-FAMILY: 'Arial','sans-serif'; COLOR: black">Meanwhile, the Canal’s
expansion is well underway, following the recent commencement of the permanent
concrete work for the new Atlantic side locks. The $5.25 billion project
includes the construction of a new set of locks that will allow the transit of
longer and wider ships.</SPAN></P>
<P class=MsoNormal><B><SPAN
style="FONT-FAMILY: 'Arial','sans-serif'; FONT-SIZE: 10pt"></SPAN></B> </P>
<P style="MARGIN-BOTTOM: 12pt" class=MsoNormal><B><SPAN
style="FONT-FAMILY: 'Arial','sans-serif'; FONT-SIZE: 10pt">About Port Everglades
</SPAN></B></P>
<P style="MARGIN-BOTTOM: 12pt" class=MsoNormal><SPAN
style="FONT-FAMILY: 'Arial','sans-serif'; COLOR: black; FONT-SIZE: 10pt">Port
Everglades is one of the nation's leading container ports and a trade gateway to
Latin America and Caribbean. Port Everglades has direct access to the interstate
highway system, is within two miles of the </SPAN><SPAN
style="FONT-FAMILY: 'Arial','sans-serif'; FONT-SIZE: 10pt"><A
href="redir.aspx?C=e892c8f1507842db88164f7f77f59bbb&URL=http%3a%2f%2fwww.fecrwy.com%2fhome.aspx"
target=_blank><B><SPAN style="COLOR: black; TEXT-DECORATION: none">Florida East
Coast Railway </SPAN></B></A><SPAN style="COLOR: black">hub and is just one mile
from the Atlantic Shipping Lanes. Ongoing capital improvements and expansion
ensure that Port Everglades will have the ability to handle future growth in
container traffic. A world-class cargo handling facility, Port Everglades serves
as an ideal point of entry for products shipped around the world. <BR><BR>More
information about Broward County's Port Everglades is available on the Internet
at <A
href="redir.aspx?C=e892c8f1507842db88164f7f77f59bbb&URL=http%3a%2f%2fwww.porteverglades.net"
target=_blank>http://www.porteverglades.net</A></SPAN><SPAN
style="COLOR: #3333ff"> </SPAN><SPAN style="COLOR: black">by calling toll-free
in the United States 1-800-421-0188 or emailing </SPAN><A
href="redir.aspx?C=e892c8f1507842db88164f7f77f59bbb&URL=mailto%3aPortEvergladescargo%40broward.org">PortEvergladescargo@broward.org</A>.
<SPAN style="COLOR: #3333ff"></SPAN></SPAN></P>
<P style="MARGIN-BOTTOM: 12pt" class=MsoNormal><SPAN class=longtext><B><SPAN
style="FONT-FAMILY: 'Arial','sans-serif'; COLOR: black; FONT-SIZE: 10pt">About
the Panama Canal Authority (ACP)</SPAN><SPAN
style="COLOR: black"></SPAN></B></SPAN></P>
<P style="MARGIN-BOTTOM: 12pt" class=MsoNormal><SPAN class=longtext><SPAN
style="FONT-FAMILY: 'Arial','sans-serif'; COLOR: black; FONT-SIZE: 10pt">The ACP
is the autonomous agency of the Government of Panama in charge of managing,
operating and maintaining the Panama Canal. The operation of the ACP is based on
its organic law and the regulations approved by its Board of Directors. For more
information, please visit </SPAN></SPAN><SPAN
style="FONT-FAMILY: 'Arial','sans-serif'; FONT-SIZE: 10pt"><A
href="redir.aspx?C=e892c8f1507842db88164f7f77f59bbb&URL=http%3a%2f%2fwww.pancanal.com%2f"
target=_blank>http://www.pancanal.com/</A><SPAN class=longtext><SPAN
style="COLOR: black">. You can also follow us on Twitter: </SPAN></SPAN><A
href="redir.aspx?C=e892c8f1507842db88164f7f77f59bbb&URL=http%3a%2f%2ftwitter.com%2fthepanamacanal"
target=_blank>http://twitter.com/thepanamacanal</A><SPAN class=longtext><SPAN
style="COLOR: black">.</SPAN></SPAN></SPAN></P>
<P class=MsoNormal><SPAN class=longtext><SPAN
style="FONT-FAMILY: 'Arial','sans-serif'; COLOR: black; FONT-SIZE: 10pt"></SPAN></SPAN> </P></DIV></BODY></HTML>