FOR IMMEDIATE RELEASE
January 4, 2005

MITSUI USA JOINS ENERSEA TRANSPORT TEAM

Houston, TX and New York, NY - EnerSea Transport LLC and Mitsui & Co. (U.S.A.), Inc. (Mitsui USA) announced today that Mitsui USA has purchased an equity holding in EnerSea. In addition to its investment in EnerSea, Mitsui USA may also contribute to the company's business activities through equity participation in EnerSea's marine gas transport projects worldwide.

Mitsui USA's stake represents the second significant investment in EnerSea Transport during the quarter. Mercuria Holdings Limited, of the Tanker Pacific Group, also acquired an equity position in EnerSea in October 2004.

Commenting on the transaction, Koichi Ando, Mitsui USA's General Manager of Private Equity Department, said, "I believe that investment in robust new energy technologies, such as compressed natural gas marine transport, is vital for the world's industrialized economies and will provide excellent long term value to Mitsui. EnerSea has developed the leading CNG transport technology which is poised for near term commercialization, and we are pleased to be able to participate with them through this stake in the company."

"Mitsui is an outstanding company of international repute and we are delighted that they have expressed their interest and confidence in EnerSea through this investment," said EnerSea's Managing Director Paul Britton. "Their capabilities and involvement will provide a strategic plank in our business plan and activities and advance us towards our goal of establishing EnerSea as the clear industry leader in compressed natural gas (CNG) marine transport and storage."

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Enersea Transport LLC

EnerSea, based in Houston, Texas, is an industry leader in providing solutions to clients worldwide for commercializing remote and stranded gas resources utilizing EnerSea's innovative VOTRANSTM Compressed Natural Gas marine transport and storage services. For additional information, visit Enersea on the web at www.enersea.com.

Mitsui & Co. (U.S.A.), Inc.

Mitsui USA is a wholly owned subsidiary of Mitsui & Co., Ltd., Japan, which is one of the world's most diversified and comprehensive trading, investment, and service enterprises. Headquartered in New York, Mitsui USA has 11 business divisions and operates nearly 90 consolidated subsidiaries in various industries in the U.S.

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