ERITREA FREIGHT TENDER DATED APRIL 20, 2005 - RESULTS

PL 480 TITLE II - SAMARITAN'S PURSE
CCC: 5848
FIXED W/ IMC MARITIME GROUP

VESSEL: M/V ATLANTICA, MALTESE FLAG BULK CARRIER
CARGOES: 4,240 MT WHEAT IN BULK IN COMBO WITH OTHER 
TITLE II PARCELS OF BULK WHEAT TOTALING 28,860 MT 

L/P: 1/3 SB 1/2 SP U.S. GULF
D/P: 1/2 SB MASSAWA, ERITREA
LAYCAN: MAY 12-22, 2005

FREIGHT RATE: $ 78.00 PER MT
PLUS $ 25,000 LUMPSUM FOR EACH ADD'L LOAD BERTH
PLUS $ 125,000 LUMPSUM FOR EACH ADD'L LOAD PORT
PLUS $ 65,000 LUMPSUM FOR MISS R. LOAD
ALL PREMIUMS TO BE PRORATED BETWEEN PVO'S

BAGGING / STACKING PREMIUM: $ 3.00 PMT