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Staff Announcement - Nicolas Fairfax

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I am pleased to announce that on Monday 4 July Lord Fairfax will join  Sovcomflot Group in the capacity of Deputy Managing Director of Fiona Maritime  Agencies Ltd., London and as Risk Management Strategist for the Sovcomflot  Group.

Nicholas Fairfax has worked in the shipping and insurance market for over 20  years during which time he has become one of the most well-known and  well-respected figures operating in that sphere. After qualifying as a lawyer  Nicholas worked at the UK P&I Club with responsibility for the business of  the Russian Fleets before moving in 1990 to Sedgwick Group - second largest  insurance broker in the world and then to PL Ferrari, the leading P&I broker  where he has been managing director of their London office.

In addition to his responsibilities in the Sovcomflot London office and for  Group Risk Management strategy Nicholas will also be a member of our senior  management team where he will deal with loss prevention issues and will be  involved in claims handling and other legal matters.

I would like to welcome Nicholas very warmly to the Sovcomflot Group and to  wish him every success.

President&CEO Sergey Frank