EXSIF secures domestic tank leasing license in China
October 10, 2003

EXSIF Worldwide, Inc., announces its Chinese subsidiary EXSIF China, to be known locally as Haite, has been granted a government license to conduct business in China. The new company will be the first dedicated to the domestic tank leasing business in China.

Jeremy Bergbaum, President, commented, “This represents a major investment by the company to meet the growing local demand for a specialized tank lessor; more importantly, a government approved lessor that is capable of officially operating domestically in China. The process of establishing a legal domestic organization in China was a challenge. Meeting all the various government requirements and having secured the license to lease tank containers, we continue to demonstrate commitment to our customers. EXSIF is well placed to satisfy the needs of the domestic market in China and to ensure our growth in this country.”

Andrew Evans, Managing Director for Asia added, “This is a continuation of the company’s growth in tank container leasing activities throughout Asia. Many of our international customers based in China also have domestic business and have asked for tanks to be available in their rapidly expanding domestic China trade. EXSIF China will lease tanks exclusively to this market. The first orders of purpose-built domestic tanks placed with CIMC have been pre-allocated to customers, and we are presently negotiating orders for additional tanks to meet future projected demand.”

EXSIF China – Haite has a sales staff located in four major cities and a depot network to meet the operational demands. Additional technical and accounting staff are being recruited to ensure the continuation of full customer service.

Robert Clarke, Director China, EXSIF Worldwide Inc., has been appointed as Haite’s General Manager and GS Hao will assume the role of Vice President. Together, they will be the primary management team for the new business, calling on their many years of experience in the China international market. In addition with the projected expansion of the Sino Russian trade, Robert Clarke’s experience in the Russian market will be a major asset.

EXSIF Worldwide Inc., remains fully committed to the expansion and development of the tank container business globally and specifically in the Asia Pacific market. With a fleet of 28,300 units, EXSIF continues to offer a wide and diverse product line to meet the growing demands of the liquid chemicals and food products industry. Our global presence includes regional offices in Singapore, Houston and Paris supported by a comprehensive network of sales offices and agents. EXSIF is well positioned to meet the international and domestic requirements of the fast expanding tank container business.

EXSIF Worldwide is a member of The Marmon Group, an international association of more than 100 companies that operate independently within diverse business sectors. Marmon Group member companies had collective sales of about $5.8 billion in 2002.

For more information contact

EXSIF Worldwide Inc., Purchase, NY
Tel 1 914 848 4200
Email EXSIF.C0@EXSIFWW.com

A member of The Marmon Group of companies