For Immediate Release
May 9, 2002

Evergreen To Operate Container Terminal in Oakland
TAIPEI, Taiwan - On April 30th, Evergreen Marine Corp. and the Port of Oakland signed a memorandum granting the Taiwanese ocean carrier an exclusive container terminal in northern California. The signing ceremony was held in conjunction with the Port's Spring Trade Mission to Asia.

Marcel Chang, President of Evergreen Marine Corp. (Taiwan), noted that the Port of Oakland "is another gateway in North America via California for Evergreen, both for the waterborne and intermodal links. This exclusivity is a value-added feature that will serve our customers with a guarantee of sensitivity to transit times and scheduling."

"This is a very special day for Oakland", said David Kramer, senior member of the Board of Port Commissioners attending the signing. "It affirms both the Port's and Evergreen's commitment to serving the Trans-Pacific trade. Evergreen has obtained a terminal in Oakland, and the Port is seeing the commercial fruition of our Vision 2000 projects."

"We share many objectives with Evergreen, which made this an excellent fit for our port," said Port of Oakland Executive Director Tay Yoshitani. "Evergreen already operates marine terminals in the other U.S. West Coast gateways, and the operation in Oakland now gives them complete coverage in this trade lane," he added, detailing the background of the discussions. Under the agreement Evergreen will operate the 58.1 acre (23.5 hectares) Ben E. Nutter Terminal located in Oakland's Outer Harbor. Evergreen will also commit to making Oakland a first inbound port-of-call on one of their eastbound Trans-Pacific vessel rotations. The Port has established wharfage discounts in exchange for annual guarantees of intermodal containers. This deployment change took place immediately, and the first vessel and subsequent dispatch of eastbound intermodal cargo occurred on May 7th.

"The agreement provides both for Evergreen's current container volume", continued Yoshitani, "and for future growth by allowing an additional 40 acres (16.2 hectares) for expansion into a contiguous facility that will be completely renovated in the near future. The expanded facility could then accommodate over 400,000 TEUs per year."

"Evergreen is a welcome addition to the family of terminal operators in northern California" said Commissioner Kramer. "During my time on the Board, Oakland has invested over $1 billion in maritime expansion and renovation to serve the Trans-Pacific trade and transportation industry and to create the jobs and economic stimulus so vital to our community. We are now seeing the result of those investments with the opening of new marine terminals and rail yards," stated Kramer.

"The commitment we sign here today is, of course, a new beginning, but also a continuation of a relationship that stretches back to reflect on our successes and forward to illustrate our potential," added Kramer. "Evergreen came to the Port of Oakland in July 1994, and in the short time since has already demonstrated to the world that they have a home in northern California. We share their pride in what they have already achieved, and look forward to the challenges ahead," Kramer said.

Evergreen, one of the largest container carriers in the world, commenced full container service to North America in 1975 and to the Pacific Coast in 1976. Following 17 years of two-way round-the-world services, Evergreen this year launched pendulum services covering the globe, as well as a variety of Trans-Pacific routes. North America headquarters are in Morristown, NJ.

Contact:
Marilyn Sandifur
Media and Public Relations Manager
(510) 627-1193
msandifur@portoakland.com

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