Frangou and Ambrosov join UK P&I Club board - 4 November 2010

4 November 2010

Two directors were elected to the Board of the UK P&I Club at the AGM in Shanghai. Angeliki Frangou is Chairman of the Board and CEO of Navios Maritime Holdings Inc, Athens and of its affiliates Navios Maritime Partners LP and Navios Maritime Acquisition Corporation which have eleven owned ships in the UK P&I Club with 368,362 gross tonnage entered. Evgeny N. Ambrosov is Senior Executive Vice-President of OAO Sovcomflot, Moscow which has 24 owned ships with the Club, amounting to 639,540 gross tonnage.

In 2005, Ms. Frangou's company International Shipping Enterprises completed a $600m plus purchase of Navios Maritime Holdings. Four years earlier, she founded and served as CEO of Maritime Enterprises Management in Piraeus, specialising in managing a range of dry cargo vessels.

From 1990 to 2001, Ms. Frangou was CEO of Franser Shipping in Piraeus, also focusing on managing dry cargo vessels. Prior to that, she was a credit analyst with Republic National Bank of New York.

Ms. Frangou is Chairman of IRF European Finance Investments Ltd and a member of the Mediterranean Committee of the China Classification Society, the Hellenic and Black Sea Committee of Bureau Veritas and the Greek Committee of Nippon Kaiji Kyokai.

She received a bachelor's degree in mechanical engineering from Fairleigh Dickinson University, New Jersey (summa cum laude) and a master's degree in mechanical engineering from Columbia University, New York.

Evgeny Ambrasov has been a Senior Executive Vice President of JSC Sovcomflot since 2009 and a Member of its Executive Board. He was President and then Chairman of FESCO Transportation Group from 2008 to 2009 and served as Chairman of FESCO Ltd and of Far Eastern Shipping Company Plc.

After graduating from the navigation faculty of the Far-Eastern Higher Engineering Academy in 1979, Mr. Ambrosov started with Far-Eastern Shipping Company as cargo officer on liners. Following a period as a clerk in the chartering department, he was promoted Head of the Fleet Operation Department from 1980 to 1997 and then Vice President and Director for three years. He was Senior Vice President of OAO Sovcomflot from 2000 to 2002 and President of OAO Far-Eastern Shipping from 2002 to 2007, remaining as a director until the following year.

He has been a Director of BIMCO since 2007 and Novorossiysk Shipping Company since 2009.

For further information:

Nick Whitear

Thomas Miller P&I Ltd

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Martin Rowland/David Cheslin

Dunelm Public Relations

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