09/15/03
NEW YORK, N.Y., September 15, 2003 - The Bank of New York announced today that it has been selected to provide offshore trustee services to MBJ Airports Limited Jamaica (MBJ) for a $135 million expansion project at the island’s second largest airport in Montego Bay.
Sangster International Airport is the gateway to the island’s major resort locations in Montego Bay, Negril and Ocho Rios and is undergoing a government sponsored expansion that will enable it to serve over five million passengers annually. MBJ will operate the airport under a contract with Airport Authority of Jamaica for 30 years.
Karen B. Peetz, executive vice president and manager of the corporate trust division at The Bank of New York, said, "We are pleased to have been selected as offshore trustee for Sangster International Airport. Sangster International Airport and MBJ will use our online reporting capabilities to monitor their program and will benefit from the expertise of the Bank’s global trust team."
Javier I. De Ussel, managing director of The Bank of New York’s Latin American Division, said, "This is one of the largest transactions of its kind in the Caribbean. Sangster’s expansion is progressing rapidly, with new computerized security systems and six new jet ways already under development. We are delighted that MBJ is confident in our ability to effectively serve as trustee on this important development project."
MBJ Airports Limited, operator of Sangster International Airport, is a consortium comprising four companies: Dragados, in Spain; AGUNSA, in Chile; Vancouver Airport Services (YVRAS), in Canada; and ASHTROM, in Israel.
This announcement is not an offer to sell or a solicitation of an offer to buy any securities. The offering is made only by means of the prospectus.
The Bank of New York is a leading provider of corporate trust and agency services. The Bank and its subsidiaries and affiliates administer a portfolio of more than 85,000 trustee and agency appointments, representing more than $1 trillion in outstanding securities for more than 30,000 clients around the world. The Bank is a recognized leader for trust services in several debt products, including mortgage-backed and asset-backed securities, corporate and municipal debt, derivative security services and international debt offerings.
The Bank of New York Company, Inc. (NYSE: BK) is a global leader in securities servicing for issuers, investors and financial intermediaries. The Company plays an integral role in the infrastructure of the capital markets, servicing securities in more than 100 markets worldwide. The Company provides quality solutions through leading technology for global corporations, financial institutions, asset managers, governments, non-profit organizations, and individuals. Its principal subsidiary, The Bank of New York, founded in 1784, is the oldest bank in the United States and has a distinguished history of serving clients around the world through its five primary businesses: Securities Servicing and Global Payment Services, Private Client Services and Asset Management, Corporate Banking, Global Market Services, and Retail Banking. Additional information on the Company is available at www.bankofny.com.
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