NEW YORK, March 29, 2001 — Energy Transportation Group, Inc. (ETG) was selected as the LNG Shipping Advisor to the Guangdong LNG Transportation Project Office of the People’s Republic of China, it was announced here today by Kimball and Kendall Chen, Co-Chairmen of ETG.

The Project’s anticipated annual volume of LNG imports into the Guangdong Province region is three million tons per year. These energy imports will feed into a market of Guangdong and Hong Kong gas and electric utilities.

ETG advisory responsibilities include counsel on technical specification, financing, insurance, vessel specification, shipyard identification, shipbuilding contracts, transportation agreement and cost. The Guangdong LNG Transportation Project Office, composed of the China National Offshore Oil Corporation (CNOOC), the China Ocean Shipping Company (COSCO), and China Merchants Transportation Holding Company (China Merchants), officially appointed ETG.

“The Guangdong LNG Transportation Project Office announced that we were chosen as the advisor because of our impartiality and our extensive knowledge. The recognition of our absolute focus on China’s interests was gratifying, and we look forward to creation of an effective and efficient Project,” noted Kimball C. Chen, Co-Chairman of ETG.

Additional information regarding ETG is available from the corporate website at https://etgglobal.com.

SOURCE: Energy Transportation Group, Inc.