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Charleston, SC - October 26, 2000 - The success of the Port of Charleston is a driving factor in the bright financial future expected for city governments in Charleston and North Charleston, according to Moody's Investors Service.

Moody's recently looked at South Carolina's five largest cities - Charleston, North Charleston, Columbia, Greenville and Rock Hill - and predicts stable to improving credit positions.

Moody's said in a special comment that its rosy assessment "is a product of a healthy state economy, the economic benefit derived from the Port of Charleston, a strong transportation infrastructure and the state's aggressive economic development initiatives."

While the study said all five cities benefit from the positive trends, the local area has specific benefit from the maritime community, which it calls "a nationally renown shipping port." The report says, "Charleston and North Charleston derive direct economic benefit from the Port of Charleston and Charleston further benefits from its sizable tourism sector."

Other positives in the city of Charleston were tourism and economic diversity in the historic section including centers of higher learning. Moody's noted "modest" growth in the city of Charleston's tax base, but anticipated reassessment in 2001 "will result in significant tax base growth."

In addition to the port, "North Charleston benefits from its location near the city of Charleston." The report also cited residential growth and a "diverse assortment of manufacturing, trade and service industries." North Charleston's "unique challenges" include above average debt and below average wealth and income levels.

Charleston, SC - October 20, 2000 - On the strength of U.S. imports from Asia and Europe, container volume through the Port of Charleston increased 11% in the third quarter to 417,558 TEUs (20-foot equivalent units).

"While exports to South America and Asia are expected to remain healthy, they simply can not match the U.S. economy and our demand for foreign goods," said Bernard S. Groseclose Jr., president and CEO of the South Carolina State Ports Authority. "Imports from Asia and Europe should continue to lead the way."

Through the first nine months of the year, the Port of Charleston has moved 1,218,851 TEUs, also an increase of 11% from the same period last year. Year-to-date, loaded import TEUs are up 13% while loaded export containers increased 10%.

To handle the increasing volume, this year the Ports Authority's capital plan calls for nearly $50 million in new equipment and improvements to existing terminals. Six new RTGs are currently under construction for deployment at the Wando Welch Terminal and five new seven-high stackers are on order. Two super-post panamax container cranes were recently delivered and two additional units will be delivered within two weeks. All four will be operational within two months.

The South Carolina State Ports Authority operates public seaport facilities in Charleston, Georgetown and Port Royal. The Port of Charleston is currently the nation's fourth busiest container port, moving cargo valued at $80 million every day.

Charleston, SC - October 4, 2000 - The Ports Authority Board today unanimously approved a resolution directing management to review options for port expansion. These sites would include the Cooper River side of Daniel Island, the former Charleston Naval Base and a site in Jasper County. The Board said it, "fully supports the efforts of the Authority to expand the Port in order to meet the demonstrated needs of not only its users, but most importantly, the needs of our state." The Board requested that a preliminary report on the technical, engineering, environmental, cost, time and infrastructure factors of the various alternatives be presented at the next meeting.

Georgetown, SC - September 8, 2000 - International trade through the Port of Georgetown reached record levels in the first two months of the Ports Authority's fiscal year, pointing to a banner year for South Carolina's second largest seaport.

Twenty ships docked in Georgetown during July and August, carrying more than 343,996 tons of forest products, salt, cement and steel for local industries. Ship traffic was up 75% and tonnage increased more than 100% when compared to the same two months last year.

Port Director David Schronce shared the dramatic numbers with Ports Authority Board members at a monthly meeting in Charleston on Wednesday.

"The Port of Georgetown plays a key role in the day-to-day business of our region's key employers," said David Schronce. "We are here to serve them, and I think these numbers show that our services are in demand."

Charleston, SC - September 6, 2000 - The Ports Authority Board today approved a $724,176 contract for maintenance dredging at the Union Pier Terminal berths. Great Lakes Dredge & Dock Company will perform the work. Union Pier handles breakbulk and roll-on roll-off ships. Commodities across the dock include import and export BMWs, earth-moving equipment, farm
machinery, forest products, Porsches, boats and other non-containerized goods.

Charleston, SC - August 2, 2000 - June was the busiest month in Port history, capping the Ports Authority's eighth consecutive record-setting fiscal year. Exports accounted for most of the growth, as trade through the Port increased 16% in fiscal year 2000 to more than 1. 5 million TEUs (twenty-foot equivalent units). Despite the double-digit volume increase, ship traffic increased only 1%.

Charleston, SC - August 1, 2000 - In the Midlands region of South Carolina, international trade is a vital component of the economy. Recent analysis shows that:

• Every year, the ten largest exporters in the Midlands region ship more than 350,000 tons of products through the Port of Charleston - that's two million pounds every day.
• In the Midlands region, there are 248 exporters employing 43,115 people.
• What International Business Means to the Midlands Region - The Annual Economic Impact of Trade through the Ports Authority
• Companies Make $1.5 Billion in Sales
• Residents Earn $389 Million in Wages
• State and Local Governments Collect $46.5 Million in Taxes

Charleston, SC - June was the busiest month in the history of the Port of Charleston, capping another record setting fiscal year.

Rebounding exports and double-digit growth pushed international trade through the Port of Charleston to an all-time high for the eighth consecutive year. In fiscal year 2000, which ended June 30, the South Carolina State Ports Authority handled more than 1.5 million TEUs (twenty-foot equivalent units), surging 16% ahead of the previous year.

Exports stimulated the record year, increasing 19% to 823,914 TEUs. In fact, three months last year were all-time record months for U.S. outbound shipments through Charleston, the nation's fourth busiest container port. Exports represent a majority of the Port's business at 54% of all loaded containers. Exports continued their growth in the second quarter, up 12% from the last year.

Imports also increased during the fiscal year, rising 13% from FY99 to 743,672 TEUs, primarily due to increased consumer spending and shifts in distribution channels to the Southeast. Asia and Europe were top suppliers of the gain.

Despite the double-digit increase in container volume and overall port tonnage, vessel traffic to the Ports Authority's terminals in Charleston increased only 1% to 1,981 ships, up from 1,963 ships during the previous year. This shows the trend toward larger ships with a higher per vessel throughput.

Behind the business volume increases in fiscal year 2000 were many successes, including new and expanded ocean carrier services, progress on major port initiatives and significant capital investments. To maximize use of current facilities, last year the Ports Authority invested heavily in existing terminals and ordered new container handling and stacking equipment at a cost of $42 million. Included were four new post-panamax container cranes ($25.5 million) and 12 new rubber-tired gantry cranes ($16.1 million). In FY01, the Authority plans to invest $47 million in facilities and equipment.

Also during fiscal 2000, the Ports Authority finalized a lease for 100 acres and three piers on the former Navy Base, began harbor deepening to 45 feet, hired dozens of new employees, and continued the permitting process to build a new terminal on Daniel Island.

While container volume continued its blistering growth, traditional breakbulk cargo remained weak. The Port of Charleston's smallest business segment, non-containerized cargo such as vehicles, oversized equipment and palletized goods, fell 9% to 493,543 tons. The Port of Georgetown's business, which includes paper products, steel, cement and salt, was off 4% from last year's record to 1,635,646 tons. The Port of Port Royal's volume also declined, slipping 8% to 336,793 tons.

Charleston, SC - Peter O. Lehman has been promoted to Director of Planning and Business Development for the South Carolina State Ports Authority.

After serving as director of the S.C. World Trade Center-Charleston for four and one half years, Lehman joined the Ports Authority in 1997 as Executive Assistant to SPA President Bernard Groseclose. In his new position, Lehman will be responsible for coordinating the Authority's strategic and annual planning processes, foreign-trade zone activities, real estate functions and other commercial business initiatives.

Lehman is President of the Propeller Club of the Port of Charleston and was recently elected vice chairman of the American Association of Port Authorities' Planning and Research Committee. He was also recently named vice chairman for the Industry Consultations Program, a joint initiative of the U.S. Department of Commerce and the U.S. Trade Representative, and is a member of S.C. International Trade Conference Board.

Lehman received his bachelor's degree in business administration from Stetson University, earned a certificate of advanced study from the American Graduate School of International Management (Thunderbird), and obtained his juris doctorate degree from the New England School of Law. He is a licensed attorney and is a member of the South Carolina, New Jersey and District of Columbia Bars as well as 10 Federal Courts including The Supreme Court of the United States