International Shipholding Reports Exercise of Buy-Out Option Related to Integrated Tug/Barge Unit

International Shipholding Corporation

announced today that it has completed the purchase of an integrated tug/barge unit, Coastal 202 and Florida Enterprise, from CIT and GE Capital. Coastal 202 and Florida Enterprise have been operating under a sale and leaseback arrangement and were part of ISH's purchase of United Ocean Services.