ABS President & CEO to be deposed in "PRESTIGE" Lawsuit

Robert D. Somerville, President and CEO of ABS, is scheduled to be deposed in Houston, Texas on December, 23, 2003 by the attorney representing the Basque Government in its lawsuit over the ?PRESTIGE? sinking off the coast of Spain on November 19, 2002.

Tony Buzbee, the Basque province?s attorney, claims that ABS failed to adequately inspect the vessel when the company performed its comprehensive inspection 18 months prior to the tanker sinking. "It has been estimated that the PRESTIGE had already lost at least one quarter of its fuel oil cargo, says Buzbee. The Basque province has already expended more than $80 million in ?real money? cleaning up its coast; the case seeks a minimum of $100 million in damages and there is speculation that a ?unlimited liability? factor could be attached to the case. Furthermore, Buzbee acknowledges that other provinces could additionally file suits against the U.S. based classification society.

Mr. Buzbee says, "My clients have felt all along that ABS should have done a better job. We have expended numerous resources and monies cleaning up this mess on the Basque coast. The disaster has impacted the local fishing industry, the tourism industry, and the local economies. It has been reported that the PRESTIGE sinking is already more damaging than the damage caused by the EXXON VALDEZ.?

After the ABS inspection, Buzbee stated that a Captain assigned to the ?PRESTIGE? faxed a letter to ABS stating that the vessel was a ?rust-trap that had rust and corrosion in the panels.? ?Who is watching the safety in a seagoing environment?? Buzbee asked. ?Flag states contract ABS to inspect these ships properly, and the problem lies in the fact that the vessel owners are also clients of the company. There is something inherently wrong in the system.?

ABS denies ever receiving the fax from the temporary relief master and that the message was addressed to a then defunct commercial affiliate of ABS, not to the classification society.