PRESS RELEASE: New Development Center opened in Apollo, Pennsylvania

Rockville, July 16, 2002

Lasse V. Syversen, Chairman & CEO of Flagship Technologies, Inc, a Bloksberg Inc company, announced today that a new computer and development center was official opened in Apollo, PA to become the company’s future center of excellence.

Mr. Syversen says the new center is a strategic investment to host the technical staff of their groups need for future expansion, focusing on the new generation web based solutions to existing and future customers.

Mr. Syversen also indicates that the new center will be of importance to attract new employees and to lower the company’s cost of operation. The Group Headquarter will still be located in Maryland.

Flagship Technologies will continue their services within the shipping industry and seek new partners for future growth.

For further information, please contact Mr. Lasse Syversen, at +1 301 216 9803 or office@flagship.com.