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Panama Canal CEO Inducted into International Maritime Hall of Fame

Date: 10-MAY-2007

ALBERTO ALEMÁN ZUBIETA RECOGNIZED AS A MARITIME VISIONARY, GUIDING THE INDUSTRY IN THE 21ST CENTURY

PANAMA CITY, Panama, May 10, 2007 - Panama Canal Authority (ACP) Administrator/CEO Alberto Alemán Zubieta was honored last night at the 14th Annual International Maritime Hall of Fame awards, held at the United Nations in New York City. Mr. Alemán joins the ranks of prominent members of the international maritime community honored for excellence and significant contributions to the industry.

The International Maritime Hall of Fame was founded in 1993 by the Maritime Association of the Port of New York & New Jersey to recognize maritime visionaries who, through excellence in their company, organization or services, best exemplify the qualities of futuristic thinking that guide the maritime industry in the 21st Century.

Presentation to Alberto Alemán ZubietaIn commemoration of the evening, Kevin Corbett, vice president of DMJM Harris, presented Mr. Alemán with an engraved "Mariner's Lookout Award" statue and an engraved medallion. Five other international leaders from the industry were also honored at the ceremony, including: J. Robert Bray, executive director emeritus, Virginia Port Authority; Angus R. Cooper, II, chairman and CEO, Cooper/T. Smith Corporation; Nikolaos Efthymiou, president, Union of Greek Shipowners; Captain James J. McNamara, president, National Cargo Bureau, Inc.; and Jung Won "J.W." Park, president and CEO, Hanjin Shipping Co., Ltd.    

"I am fortunate to have led the Panama Canal's world-class workforce during the transition of the waterway to Panama and at the beginning of this new century. They have my deepest gratitude and respect for their hard work, which has made the Canal incredibly efficient and admired around the world," said Alemán.

Mr. Alemán is the first Administrator of the ACP, the Panamanian entity created to manage and operate the Canal after its transfer from the U.S. to Panama in 1999. Over the past several years, Mr. Alemán has transformed Canal operations from a profit-neutral utility to a market-oriented business model, totally focused on customer service and reliability for the benefit of world trade and the people of Panama. The Panama Canal is now known as a world leader in services to the maritime industry - a cornerstone of the global transportation system - and serves as a model of excellence and integrity.

On October 22, 2006, the Panamanian people voted in a national referendum to expand the waterway. Expansion will build a new lane of traffic along the Panama Canal through the construction of a new set of locks, which will double capacity and allow more traffic and wider ships.

A native of Panama City, Mr. Alemán is a graduate of the civil and industrial engineering schools at Texas A&M University.

Mr. Alemán has received numerous awards for his lifetime career achievements and extraordinary contributions to the world maritime industry.

About the Panama Canal Authority (ACP)
The ACP is the autonomous agency of the Government of Panama in charge of managing, operating and maintaining the Panama Canal. The operation of the ACP is based on its organic law and the regulations approved by its Board of Directors. For more information, please refer to the ACP's Web site: www.pancanal.com.