Regal Stone is Named Responsible Party for the Spill Clean-Up and Response - Not for the Collision

Nov 10, 2007, 00:00 ET from Regal Stone Ltd.

    SAN FRANCISCO, Nov. 10 /PRNewswire-USNewswire/ -- Although Regal Stone
 -- owners of the Cosco Busan -- has been named the Responsible Party by the
 state of California, this designation has no connection with
 'responsibility' for the accident," said Darrell Wilson, spokesman for the
 shipping company. "That responsibility will be clearly determined by the
 official investigation, which the USCG is undertaking and in which we as
 owners are fully participating."
     The designation Responsible Party is a term of law which means the
 party initially responsible for the clean-up and response.
     "This is a responsibility Regal Stone has embraced since the start of
 this very regrettable accident. We will meet all of our responsibilities to
 the full extent of the law," said Wilson.
     "We are committed to a robust and professional response. We want to
 thank every person, company and government official for their enormous
 effort. We are sorry the incident has taken place but wish to assure the
 community we take our responsibilities with the clean-up very seriously,
 "said Wilson."
     We also take the investigation seriously and look forward to a
 resolution which will contribute to a safer Bay and safer shipping," said

SOURCE Regal Stone Ltd.