Termont Montreal signs long-term contract with Mediterranean Shipping Company, S.A.

MONTREAL, Que.–Logistec Corporation says that an affiliate of its joint venture, Termont Terminal Inc. (“Termont”), has signed a long-term contract to handle all of the business of Mediterranean Shipping Company, S.A. (“MSC”) at the Port of Montreal, QC.

This encompasses the existing service of Holland Maas, which has two loops of three vessels serving North Europe and the Caribbean, as well as the New Canada Service, which is to start in February 2006. This service will operate three vessels on the North Atlantic.

Termont has also agreed to sell a one-third interest in its operation to an affiliate of MSC for an undisclosed sum.

“We are pleased to have MSC join as a partner of Termont. This will no doubt add significant stability and growth to our container terminal”, commented Madeleine Paquin, Chairman of Termont Terminal Inc. and President and CEO of Logistec Corporation.

Termont Terminal Inc. is jointly owned by Logistec Stevedoring Inc. (a wholly-owned subsidiary of Logistec Corporation) and Cerescorp Company and operates the Maisonneuve container terminal at the Port of Montreal.