Gulf Stream Marine Announces Retirement of President & CEO, Jan Rietdijk

Gulf Stream Marine is pleased to announce, that after 20 years of service, Jan Rietdijk has retired as President and CEO of the Company as of December 31, 2010. Mr. Rietdijk will remain as President Emeritus and assist in the transition of new management through June of 2011.

Mr. Rietdijk joined Gulf Stream Marine in 1991 and helped build a fledgling operation into one of the largest general cargo stevedores on the Gulf Coast. Mr. Rietdijk guided Gulf Stream Marine’s growth from its serving a small group of customers at a single terminal to operations at four terminals in Houston, as well as Terminal and Stevedoring operations in Brownsville, Corpus Christi, and Freeport, Texas. His philosophy and policy of customer service built an organization with a strong base of loyal clients. The Company would like to thank Mr. Rietdijk for his past service and leadership and wishes him well in future endeavors.

Rick Ragusan has been elected to succeed Mr. Rietdijk as President of the Company effective January 1, 2011. Mr. Ragusan has served as a senior executive of the Company for 20 years and is honored to serve as President of the Company. He looks forward to working with everyone at the Company to build upon and continue our past success.

Tony Jaworski has been elected Vice President of the Company and has been serving in that position since February 2010. Mr. Jaworski has served the Company for 18 years.

Mr. Ragusan and Mr. Jaworski are very enthusiastic about pursuing new opportunities and developing and growing the Company in the future. The Company congratulates Mr. Ragusan and Mr. Jaworski on their election to these positions and looks forward to working with them through the transition and into the future. The Company believes that it is well-positioned to meet the challenges ahead and build upon our strong foundation of the past to work towards a bright future.