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THE MARINE LOG FEATURES CALENDAR FOR 2003



December 28, 2002

NY Waterway to take over Fast Ferry route?
Lighthouse Fast Ferry Inc. says it has entered into a short-term charter agreement with New York Waterway for Lighthouse's two vessels, which currently operate from Highlands, New Jersey to Manhattan.

During the charter period, which is for a minimum of two weeks and which may be extended by New York Waterway thereafter, Lighthouse has agreed to negotiate exclusively with New York Waterway for the sale of Lighthouse's two vessels and its rights to operate from Highlands. The definitive sale of these assets to New York Waterway is subject to the successful completion of the negotiations and the definitive agreement, as well as certain other contingencies.

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