DONJON   MARINE   CO.,   INC. 1250 Liberty Avenue, Hillside, New Jersey 07205 USA Phone: (908) 964-8812         Fax: (908) 964-7426

Donjon Marine Announces the Formation
Of Port Albany Ventures

New Jersey USA March 23, 2005 Donjon Marine Co., Inc., a provider of multi-faceted marine services including towing, emergency response, and dredging, is pleased to announce that it has entered into a joint venture purchase with Metal Management, LLC to form Port Albany Ventures LLC. Port Albany Ventures LLC significantly expands Donjon’s towing and barging operations in the northeast while expanding into bulk terminal operations. The operating terminal, comprising 27 acres, is located on the Hudson River in Albany, NY. With deep-water access, the terminal handles a variety of bulk cargoes, including salt, scrap iron, gypsum, mill scale and other products. The acquisition also includes a fleet of 17 tugs and barges. "We are enthusiastic over this acquisition. In addition to a substantial increase in our marine transportation activities, we welcome the opportunity to work with Metal Management as partners in terminal activities. We have worked successfully together for a number of years and are looking forward to combining our individual expertise to expand our future opportunities," said Arnold Witte, Chairman, CEO and President of Donjon Marine Co., Inc.

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