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  • Carter, Ledyard & Milburn Represents Sea Containers in Joint Venture with GE Capital to Form One of World's Largest Marine Container Leasing Fleets

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For Immediate Release
Contact: Melinda M. Bascone
Director of Marketing
Carter Ledyard & Milburn LLP
212-238-8753
info@clm.com

MEDIA ALERT
March 24, 1998

CARTER, LEDYARD & MILBURN REPRESENTS SEA CONTAINERS IN JOINT VENTURE WITH GE CAPITAL TO FORM ONE OF WORLD'S LARGEST MARINE CONTAINER LEASING FLEETS

What: New York-based law firm Carter, Ledyard & Milburn represented Sea Containers Ltd. (NYSE: SCR.A), an international marine shipping container lessor, passenger transport, leisure and hotels company, in connection with a definitive agreement with GE Capital Corporation to create GE SeaCo SRL, a Barbados-based joint venture company to operate their existing combined marine container fleets. GE SeaCo SRL will become one of the largest container leasing operations in the world. The combined fleets had an original cost of approximately $3.5 billion with combined 1997 rental revenue of $560 million.

Who: Sea Containers' general counsel Edwin S. Hetherington and counsel John T. Landry, Jr. worked on the deal with Carter, Ledyard & Milburn partners Vincent Monte-Sano, Howard J. Barnet, Jr., and James Gadsden, and Carter, Ledyard associate Richard G. Pierson. GE Capital was represented by King & Spalding partners E. William Bates, Isam Salah and Jackie Levinson and King & Spalding associates Charles Detrizio and Frank Vivero.

Contact: Carter, Ledyard & Milburn attorneys are available to comment on this innovative Maritime transaction. Please call Roger Ardan/Katie Stack, Edelman Public Relations Worldwide at (212) 704-4549/8187 to arrange an interview.

Carter Ledyard & Milburn LLP (www.clm.com), established in 1854, has approximately 90 attorneys and has been headquartered on Wall Street since its founding. Carter Ledyard's general practice includes corporate, securities, mergers and acquisitions, broker-dealer, on-shore and off-shore hedge and other alternative investment funds, private equity, litigation, intellectual property, environmental, employment, media and technology, immigration, investment regulation, antitrust, art law, trusts and estates, maritime, ERISA, tax-exempt organizations, real estate, tax and bankruptcy. A significant part of the firm's practice involves representing overseas-based clients and their U.S. affiliates, financial institutions and other financial services providers, governmental entities and media and technology clients.

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