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AUGUST 2008 ISSUE

OFFSHORE DRILLING
Will Congress end its ban on OCS drilling before George W. Bush leaves office?

YES
NO

September 11, 2008

International Shipholding forms panel to evaluate offer

The Board of Directors of International Shipholding Corporation (NYSE:ISH) unanimously voted to form a Special Committee comprised of independent directors of the Board. The Special Committee will review and evaluate the September 2, 2008, proposal from Projection LLC, a wholly owned subsidiary of Liberty Shipping Group LLC, and make a recommendation to the full Board regarding the proposal. The Special Committee will appoint its own independent legal and financial advisors.


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