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INSIGHTSsomebody new, that we have not worked with before, we spend a lot of time managing and supervising them to ensure they provide the quality and safety we require. This is a fairly small industry, so most of the primary companies are known and have a reputation and experience to draw from. ARCTIC OPERATIONS ARE GETTING A LOT OF ATTENTION THESE DAYS . IS TITAN POSITIONED TO RESPOND AS TOURISM , ENERGY EXPLORATION AND SHIPPING INCREASE THEIR LOCAL FOOT -PRINT IN WATERS THAT WERE PREVIOUSLY ICEBOUND? WHAT ?S THE BUSINESS EQUATION TO THAT QUANDARY ? Titan has performed services in the Arctic, and is well positioned for a response to this region. Additionally, Crowley has been working in the arctic for over 50 years, and has a lot of experience supporting the oil and gas, and mining industries during the exploration, production and decommissioning phases. Together, Titan and Crowley are well positioned for the growth expected in the arctic region. Jensen, our naval architecture and marine engineering company, does a lot of work in support of companies working in the Arctic. We have response equipment, as well as ß oating assets, positioned throughout Alaska. We have also worked in the Canadian Arctic and are currently working in the Russian arctic. WHAT ?S THE MOST PRESSING ISSUE FOR SALVORS TODAY ? ON A LOCAL , NORTH AMERICAN LEVEL ? GLOBALLY ? HOW ABOUT FOR YOUR BUSINESS ? AS PART OF A MUCH LARGER , DYNAMIC MARINE ORGANIZATION , ARE TITAN ?S CONCERNS THE SAME AS SAY ? ONE OF YOU COMPETITORS ?Titan Salvage is a wholly owned Crowley company, as is Jensen Maritime. Crowley supports most all aspects related to marine project solutions, transportation and logistics. These businessesÕ have different risks associated with them, but are synergistic to one another. This allows us to provide a wide range of solutions to our customers. Each Crowley unit has a business plan, which takes into account the risk vs. reward, and executes the plan accordingly. The diversity of the business units helps make Crowley the unique company that it is. Being a part of Crowley allows Titan to have the Þ nancial strength and staying power, to respond globally and simultaneously to multiple salvage and wreck removal projects, including those that are the largest and most complex.14 MNAugust 2012