CHEMICAL CARGO :

offering ship tankers transportation

TREASURE FINANCE LTD is a maritime company specializing in ship management established in 1996. The company is made up of top professionals who have worked in the field since1980. Treasure Finance Ltd. has concluded several successful transactions, with the guidance of a highly qualified and experienced management team.The company specializes in chemicals transportation,vegetable oils, waxes, palm oils, molasses, etc. - the most demanding kind of transportation in terms of international law and regulations. In 1998, Treasure Finance Ltd., succeeded in obtaining the ISM certificate from the ABS, while the company as well as its ships successfully passed the regular controls from Port state, the Flag inspection, the USCG, the Majors, as well as those of the Classification Societies (A.B.S., G.L., B.V.). Treasure Finance Ltd is a structured organisation that is able to fulfill the following activities with international standards : Chartering Operational Management Technical Management Certification and Inspection Management of technical security and environmental protection Stated security, environmental, drug and alcohol abuse policies imply that the company implements preventative, regular and extraordinary controls to ensure policy implementation. Concurrently, the company operates according to international standards through systematic monitoring ships' operation using computer assistance and satellite support on a 24-hour basis. Regular training of the crew on "bridge management systems", preventativemaintenance planning, drills and safety meetings are other means by which international standards are met. The fleet managed by Treasure Finance has grown as follows: M/T VIRTUE purchased in May 1995 M/T SEA TRUST purchased in July 1996 M/V SEA CHARIOT purchased in December 1996 M/T SEA ACE purchased in July 1999 M/T SEA ACE sold in September 2004 M/T VIRTUE sold in July 2000 M/V SEA CHARIOT sold in January 2001 M/T APACHE I purchased in February 2001 M/T AZTEK purchased in February 2001 M/T NAVAJO purchased in February 2003 M/T MOHEGAN purchased in February 2004

19 November 2004 Treasure Finance Ltd recognizing the importance of educated, qualified and trained staff, is investing on her shore and marine personnel' training. 16 September 2004 Treasure Finance Ltd has concluded the sale of M/T SEA ACE on 16th of September 2004 03 August 2004 Treasure Finance Ltd vessel M/T SEA ACE rescues fishermen from a capsized boat in the Mediterranean. 20 April 2004 Treasure Finance Ltd has concluded the purchase and the delivery of the sixth chemical tanker on 18th of February 2004 at 13.00 Istanbul time. 13 December 2003 TREASURE FINANCE LTD has concluded a contract with IDESS Norway A.S. 5 February 2003 Treasure Finance Ltd has concluded the purchase and delivery of the fifth chemical tanker on 5th February 2003 at 10.00 Korean hours.

19 November 2004 TRAINING OF SHORE & MARINE PERSONNEL Certain amount of officers trained already at IDESS Norway A/S at Oslo have obtained The Norwegian Advanced chemical tanker diploma. At the same time, special training in our premises held by IDESS trainers for Operational/Safety/ Marine activities and relevant Norwegian Certificates issued to our personnel. 16 September 2004 M/T SEA ACE - S a l e Following the main principal and the philosophy of the Company to be always up dated and up grated with new units, M/T Sea Ace was sold on 16th of September 2004 and negos have started order a new chemical tanker vessel to join our Company's fleet shortly. 03 August 2004 M/T SEA ACE Rescues Fishermen M/T Sea Ace (7,000-dwt, built 1985) was sailing near the island of Alboran of Spain on 3rd of August 2004 when it was asked by a Spanish aircraft to head to the Enrique Elmorico fishing vessel, where was involved in rescue operation where a high professionalism from our crew members achieved and five seafarers has been rescued in Med region. The Spanish Maritime Safety Agency said the ship's intervention was absolutely crucial and avoided a "high - risk" situation for the men. 20 April 2004 Treasure Finance Ltd has concluded the purchase and the delivery of the sixth chemical tanker on 18th of February 2004 at 13.00 Istanbul time. M/T MOHEGAN was built on November 2003 at Ceksan Shipyards at Tuzla to the most sophisticated shipping standards (D/D including fuel tanks, UMS, bowthruster, 11 segregations by Framo pumps, cargo monitoring, and gas monitoring, APS, etc.) The 3.820 tons dwt was operated for 2 ½ months by V-Ships prior delivery to our Company and details can be checked to our fleet list pages. Vessel reflagged at Istanbul, where also new Safety Certificates issued by Bureau Veritas and upgrading was taken place (18-23 February) as part of purchasing agreement. A short stop after that was made at GENERAL SHIPPING S.A. premises at HELLENIC SHIPYARDS for emblem applications and other decorations, including full system trial from our expertises. Her maiden voyage under Company’s management was made on 3rd of March 2004, that vessel proceeded to Augusta, Italy to load chemicals. 13 December 2003 TREASURE FINANCE LTD has concluded a contract with IDESS Norway A.S. IDESS (International Development and Environmental Shipping School) concentrated solely on tanker operations and safety rapidly achieving a high level of expertise. All courses satisfy the requirements of the 1995 amendments to the International Maritime organization's STCW convention of 1978. Already, a certain number of our officers have been attended at this center, and passed successfully courses such as Advanced Chemical Tanker course, Advanced Bridge Team Management course, and Norwegian tanker-man certificates, were obtained. 5 February 2003 Treasure Finance Ltd has concluded the purchase and delivery of the fifth chemical tanker on 5th February 2003 at 10.00 Korean hours. M/T NAVAJO was built on July 2002 at Samho Shipyards at Tong Young to the highest and updated international shipping standards (Double/double, bowthruster, individual framo pumps, etc). The vessel was owned and operated by Samho Shipping for seven (7) months prior delivery to our Company. Details of a.m. vessel can be checked to our fleet list pages. Vessel reclassified and re flagged at the port of Tong Young to Bureau Veritas and Maltese Flag (5th – 8th of February 2003). Our expertises had inspected twice the vessel before delivery and certain upgrading took place as part of the purchasing agreement. The vessel sailed on 9th February to Yesu for her first voyage. As vessel is identical to trade within European ports, Company’s intention is to trade the vessel in a way to approach soonest Med / Cont. (expected time to reach U.K second half of May 2003).