PRESS RELEASE

Providence, RI - (October 23, 2003) RI-Vineyard Fast Ferry has been selected as the recipient of the 2003 "Innovation / Entrepreneur" Award sponsored by the Providence Business News (PBN). Winners are selected by PBN's Business Excellence Awards Committee, consisting of business persons from some of Rhode Island's leading business's. RI-Vineyard Fast Ferry provides fast ferry service from Quonset Point to Oak Bluffs, Martha's Vineyard.

According to the judges, RI-Vineyard Fast Ferry was selected for its "innovation, impact to the area's economy, job creation, and added value to the overall business climate in Southeastern New England." Specifically, the committee cited the company's vision for this new service which has attracted tens of thousands of passengers from all over the country to its ferry terminal in Quonset Point, Rhode Island.

"RI-Vineyard Fast Ferry is honored that the committee has selected us for this prestigious award, and it makes it all the more exciting since this was our first season" said Charles A. Donadio, the company's President and CEO. "It's a great feeling to develop an innovative service which benefits the local economy as well as the entire State of Rhode Island. We look forward to adding other desirable destinations to our business model in the near future." Mr. Donadio also noted that "we experienced an excellent first year" and would like to thank "the state of Rhode Island, town of North Kingstown, and the many tourism boards and councils in the state for their support". "Tourism is one of the leading industries in Rhode Island and we are proud to be able to increase the number of visitors to our area and support the local and state economy".