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Signed an Agreement with Erdemir Lojistik

Erdemir Lojistik A.Ş.and Ereğli Denizcilik A.Ş. signed a long term ocean shipping agreement on 02 June 2005. According to the new agreement, Ereğli Denizcilik will purchase a cape-size vessel to transport coal and iron ore from sources along the Atlantic Coast.

The purpose of purchasing a cape size vessel was to provide transportation of raw materials to the main 2 iron and steel producers in Turkey such as Eregli Iron and Steel Factories Inc. and Iskenderun Iron and Steel Factories Inc.