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Plaintiff Drops Lawsuit Against LOM

01 1 2004

Hamilton, Bermuda: 1 December 2004 - U.S. counsel for Lines Overseas Management Limited ("LOM") has advised that a recent California civil suit in which LOM was named as a defendant has been voluntarily dismissed by the plaintiffs.

In a press release issued October 7th, it was noted that Lines Overseas Management Limited ("LOM") had been named as one of several defendants in a civil lawsuit filed by Computer Clearing Services ("CCS") in California state court in September 2004. The suit pertained to debts owed to CCS by another defendant, Equitrade Securities Corporation, a former NASD registered broker-dealer in California. LOM did not believe itself to be a proper party to the suit, and considered it entirely without merit.