OFFER TO SELL
Client No. 03082

Business: This forty-year-old Company operates from Maine to Florida with an Eastern Seaboard Base. The Company owns and operates a waterfront property for maintenance and docking activities.

The Company specializes in leasing steel deck barges and sectional barges to the bridge construction industry. The Company has several barges that are ABS certified for ocean-going use. The Company owns and operates nearly 50 vessels.

Major customers are large general contractors with lease terms ranging from several months to several years.

A complete list of barge description and dimensions are available to qualified buyers.

Sales:
Year Ending June 30, 2003 $1,566,000
Year Ending June 30, 2002 $1,969,000
Year Ending June 30, 2001 $1,838,000
Year Ending June 30, 2000 $1,922,000
Year Ending June 30, 1999 $1,667,000

Reason for Sale: The Company is privately owned and the owner wishes to retire.

Terms and Price: Terms and price are flexible depending upon the structure of the sale.

Fees: Penn Capital Group, L.L.C., has been engaged exclusively to sell this company and our fee is paid by the seller.

More detailed information will be supplied to serious buyers upon the signing of a confidentiality agreement. A verification of the potential buyer's financial capabilities will be required. All communications, inquiries, and requests for information should be directed to:

Lawrence N. Blake
PENN CAPITAL GROUP, L.L.C.
5 Shadow Lane
Chadds Ford, PA 19317
Direct: 610-388-7119
Fax: 610-388-3361