APRIL 6, 2000

CIRCULAR NO. 4/00

TO MEMBERS OF THE ASSOCIATION

Dear Member:

ANNUAL MEETING 2000

Please note that, by reason of the second Thursday of June falling so early in the month this year, it has been decided to postpone the Club's Annual Meeting to Thursday, June 15, repeat June 15, 2000. Notice and proxies will be forwarded to you shortly in the usual manner.

The meeting will take place at 12:30 p.m. at the Marriott World Trade Center Hotel here in New York. As is the custom, it will be preceded by a buffet lunch.

During the evening of Thursday, June 15 - after the meeting - a dinner has been arranged on board the M.V. CELESTIAL between 7:30 and 11:00 p.m. leaving from Chelsea Piers on the West, Hudson River side of Manhattan. This occasion will of course be the subject of formal invitation in due course. Early hotel reservations should be arranged through Vicki Paradise of our office at Tel. + 1-212-908-2445, Fax +1-212-809-9879 or e-mail: [email protected]. Hotel accommodations will be for the account of the American Club, all other arrangements (transportation, etc.) will be for the account of the Member.

In the meantime, Members are asked to mark their calendars/diaries accordingly. More particularly, Members are encouraged to attend both events at which they will receive a most warm welcome and have the opportunity too of meeting other Members of the Club as well as its management team!

Yours faithfully,

Joseph E.M. Hughes, Chairman & CEO
Shipowners Claims Bureau, Inc., Managers for
THE AMERICAN CLUB