PETERS & MAY AND AIR & SHIPPING COMBINE TO SHRINK THE WORLD
07/08/07

Peters & May, the international yacht transportation specialist based in the UK, has acquired a majority shareholding in the fast-growing Air & Ocean Shipping, Inc. of Chicago (AOS).

The merger of the two companies makes Peters & May the largest independent logistics company specialising in yacht shipping. With their combined expertise, turnover of over $100 million and customers on both sides of the Atlantic, AOS and Peters & May are well positioned for further growth.

This expansion of Peters & May in North America is a stepping stone in the company’s plans to respond to the needs of customers wherever they are in the world and to provide a uniformly high quality of service through the Peters & May worldwide
network of offices.

Ingo Wagschal, President of AOS, said: “We have worked closely with Peters & May for well over 10 years and our specialist import and export skills, combined with our network of contacts, will help to increase the range of services to Peters & May’s
customers around the world. We are delighted to be joining forces with them.”

Air & Ocean Shipping is one of the leading companies in the USA for yacht shipping. The company provides transportation for over 7000 motor and sailing yachts each year to destinations worldwide, as well as supplying shipping services for marine
spares and equipment, airfreight and customs clearance.

Jan Rydgren-Knudsen joins AOS as Chairman of the Board. Jan is a consultant to Peters & May after working for more than 35 years in the Wilh. Wilhelmsen group and he brings to AOS considerable knowledge and experience in international shipping and logistics.

Nigel Prescot, Chairman of Peters & May, added: “This is key step in our strategy to build a global network. We want to give our customers the local touch as well as a uniformly high quality of service and performance so that they can rely on Peters & May wherever they are in the world. We look forward to working with Ingo and his team, tapping into his expertise for the benefit of all our customers.”

http://www.petersandmay.com
Dated 7th August 2007

For further information, please contact:
Titch Blachford, Strawberry Marketing, Southampton, UK +44 (0)1590 645 082
titch@strawberrymarketing.com

Nigel Prescot, Chairman, Peters & May, Southampton, UK +44 (0)2380 480 480
Ingo Wagschal, President, Air & Ocean Shipping, Chicago, USA +1 847 437 2389