April 19, 2002 – Panama Canal Authority (ACP) Administrator Alberto Aleman Zubieta today met with A.P. Møller Senior Partner and Chairman Maersk Mc- Kenney Møller as part of the Canal’s efforts to strengthen ties with users and clients, as well as to stay abreast of changes within the shipping industry.

Aleman Zubieta was accompanied by ACP Corporate Planning and Marketing Director Rodolfo Sabonge and Marketing Manager Oscar Bazan. Their visit to Denmark included a meeting with the Danish Shipowners Association and top management officials from Maersk and A.P. Møller. Tommy Thomsen, A.P. Møller partner and member of the ACP Advisory Board, welcomed the Panama Canal delegation.

Established in 1928 under the name of Maersk Line, Maersk Sealand is today one of the largest liner shipping companies in the world and one of the Panama Canal’s principal users. During fiscal year 2001, Maersk-Panama transported 5,143,471 tons of cargo across the Canal.

During the meeting, Aleman Zubieta exchanged views about Maersk and A.P. Møller’s expansion plans and how the Panama Canal can better meet its needs. Maersk is currently the world’s largest container vessel company and has the greatest number of container vessels on order.

With headquarters in Copenhagen, the A.P. Møller Group employs over 60,000 people worldwide and has offices in more than 100 countries. Its fleet comprises more than 250 vessels and includes container vessels, tankers, bulk carriers, supply ships, special vessels and drilling rigs.

Besides shipping, the A.P. Møller Group is engaged in exploration for and production of oil and gas, shipbuilding, aviation, industry, and other services.

On Monday, April 22, the ACP delegation will meet in London with Protection and Indemnity (P&I) clubs and with members of the International Chamber of Shipping (ICS) to discuss Canal improvement issues, insurance and other related matters.

During his stay in London, Administrator Aleman Zubieta will also attend the annual Seatrade Awards ceremony. He received the Seatrade “Personality of the Year” award in 2001, an important recognition by the international shipping community of Panama’s management of the Canal since its transfer from the U.S.