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   &lt;div align="justify" style="font-size: 12pt; margin-top: 10pt"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;We have contingent liabilities and future claims for which we have made estimates of the
   amount of the eventual cost to liquidate such liabilities or claims. These may involve threatened
   or actual litigation where damages have not been specifically quantified, but we have made an
   assessment of our exposure and recorded a provision in our accounts for the expected loss. Other
   claims or liabilities, including those related to taxes in foreign jurisdictions or the
   industry-wide, multi-employer, defined benefit pension fund, Merchant Officers Pension Fund in the
   U.K., may be estimated based on our experience or estimated liabilities in these matters and, where
   appropriate, the advice of outside counsel or other outside experts. Upon the ultimate resolution
   of the uncertainties surrounding our estimates of contingent liabilities and future claims, our
   future reported financial results would be impacted by the difference between our estimates and the
   actual amounts paid to settle them. Our contingent liabilities are based on the most recent
   information available to us regarding the nature of the exposure. In the recent past, our estimates
   for contingent liabilities have been sufficient to cover the actual amount of our exposure.
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      <ElementReferences>Reference 1: http://www.xbrl.org/2003/role/presentationRef
 -Publisher FASB
 -Name FASB Interpretation (FIN)
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Reference 2: http://www.xbrl.org/2003/role/presentationRef
 -Publisher FASB
 -Name Statement of Financial Accounting Standard (FAS)
 -Number 5
 -Paragraph 9, 10, 11, 12

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