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Inchcape Shipping Services (ISS) and the C.F. Sharp Group announce the formation of a strategic alliance in the Philippines, effective 1st July 2000.

Sharp-ISS Port Agencies Inc. will focus on port agency services throughout the Philippines, combining the strength of Inchcape Shipping Services global network and its existing presence in the Philippines with C.F. Sharp's extensive local network and reputation.

Simon Morse, Chief Executive of Inchcape Shipping Services said "this new alliance will strenghten our ability to deliver an unrivalled depth of service to our customers in the Philippines, and increase our coverage of outports. It reinforces our commitment to building Inchcape Shipping Services scale in the Asia Pacific region both through innovative customers oriented products, and through alliances with strong local partners"

Capt. Hans J. Rosenfeldt, Director of Sharp-ISS Port Agencies, Inc., added "with this alliance, we will be able to give our customers in the local agency sector a more standardized service".

There will be a seamless transition to the new organization, with all telephone, fax and address details remaining unchanged, and with key staff retained.

Note:
Inchcape Shipping Services is the world's largest independent port agency network, with over 255 offices in 47 countries. Around the world Inchcape Shipping Services handles over 40,000 vessel port calls per annum, providing full service partnerships to both vessel and cargo interests.

The C.F. Sharp Group was established in 1937 and has expanded from its original business of liner and husbanding agencies to crewing, travel, freight forwarding, brokerage, air cargo, airline GSA (Delta Airlines, Air Mauritius, Iberia and Lauda Air), land recruiting and training.