STABBERT MARITIME COMPLETES M/Y DEVOTION REFIT

SEATTLE, WASH. August 25, 2008 - Stabbert Maritime Group has recently completed refit of the 143 ft Motor Yacht Devotion (ex Marjorie Morningstar). Late in 2007 a localized fire in the guest area exposed the vessel to smoke damage. Stabbert Maritime, recognizing the potential value and quality of the damaged yacht, purchased the vessel and began a complete refit. Work began in January of 2008 when the vessel was relocated to Stabbert Maritime’s Seattle shipyard, Stabbert Yacht and Ship. Over the subsequent months the vessel has quite literally been stripped down and rebuilt from the ground up. The vessel’s guest accommodations and lounge spaces were completely redesigned with new layouts, including a 6th stateroom and a full beam sky lounge. Brand new interiors reflect a European craftsman styling and include Brazilian hardwoods and Italian marble surfaces. Every system aboard the Devotion has been rebuilt or replaced and include electronic lighting controls, zero speed stabilizers, a sewage treatment plant, and high efficiency generators. Sub systems such as plumbing, wiring, insulation and more were also renewed. Regulatory upgrades include MCA compliance, US Flag renewal, Loadline, and the addition of US Coastwise Privileges. The Devotion is a sterling hull originally of Fexas and Bannenberg design. The vessels exterior style represents a timeless fusion of classic and contemporary lines. “We are able to look past current conditions and see what few in the industry are able to; a vessel’s hidden potential” explains Dan Stabbert, President of Stabbert Maritime. Stabbert Maritime has a prevailing history in yacht refits and conversions. Over the past 10 years, Stabbert Maritime has completed over 6 refits of this magnitude. Stabbert Maritime takes pride in its ability to add value to vessels through unique and sometimes overwhelming circumstances. In the case of the Devotion, the vessel was refit within 6 months at a fraction of industry cost. STABBERT YACHT & SHIP WINS VESSEL DISPOSAL CONTRACT Department Of Natural Resources Awards Contract To Scrap Two Vessels SEATTLE, WASH. August 29, 2008 - Stabbert Yacht & Ship, a member of the Stabbert Maritime Group of Companies has been awarded a contract by the State of Washington, Department of Natural Resources (DNR), for the removal and scrapping of two derelic boats under the State’s control. The vessels, one located in Bremerton, Washington and the other in Tacoma, Washington, have been a major environmental concern and navigation risk for a number of years. These two vessels at 151’ and 185’ represent the largest of the roughly 190 derelict or abandoned boats under control of Washington DNR. The removals represent one of the largest awards the Derelict Boat Removal Program has made since its inception. Funding for the award is generated from the watercraft excise tax. Stabbert Yacht & Ship combines years of vessel operation with repair and maintenance. “Our understanding of vessel operation and construction played a vital role in bidding this contract” explains Ron Pauley, the Shipyard General Manager. Disposal of the vessels encompass the relocation and dismantling at Stabbert Yacht & Ship inside the Ballard Ship Canal. All materials salvaged from both vessels will be recycled whenever possible. Completion date is set on or before January 31, 2009. For more information about Stabbert Yacht & Ship’s derelict boat disposal project, please contact Ron Pauley at +1 (206) 204 4121 or Ronp@stabbertmaritime.com For more information about Stabbert Maritime’s Devotion refit, please contact Daniel Stabbert at +1 (206) 204-4113 or daniels@stabbertmaritime.com .