ERITREA FREIGHT TENDER DATED JANUARY 4, 2005 - RESULTS

PL 480 TITLE II CRS
CCC: 5805
FIXED W/ COPENSHIP A/S COPENHAGEN

VESSEL: A. SUCCESS, GREEK FLAG SINGLE DECK BULK CARRIER
CARGO: 6,300 MT MIN/MAX WHEAT IN BULK 
IN COMBO WITH 30,000 MT OF BULK WHEAT FOR ACCOUNT OF WFP 
L/P: 1/3 SB 1/2 SP U.S. NORTH PACIFIC
D/P: 1/2 SB ASSAB, ERITREA
LAYCAN: FEBRUARY 1-10, 2005

FREIGHT RATE: $ 98.75 PER MT
PLUS $ 1.25 PER MT FOR EACH ADD'L LOAD BERTH
PLUS $ 3.00 PER MT FOR EACH ADD'L LOAD PORT
PLUS $ 14.50 PER MT IF ANY WFP CARGO IS DISCHARGED AT BENGHAZI
PLUS $ 11.00 PER MT IF ANY WFP CARGO IS DISCHARGED AT MOMBASA
PLUS $ 3.75 PER MT IF ANY WFP CARGO IS DISCHARGED AT PORT SUDAN

BAGGING / STACKING PREMIUMS:
$ 7.00 PMT EXTRA FOR BAGGING ALONGSIDE VESSEL AT DISCHARGE PORT