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...2...7...7...11...28...35...55...55...56...56...57...57...61...66...66...68...71...76...76...77...78...78...80...83...84... 208... 293... 293... 294... 295... 296... 296... 297... 299... 299... 302... 302... 303... 303... 304... 305... 306... 306... 315... 317... 317... 317... 317... 320... 320... 320

2004 Overseas Cargo InternationalGlobal Marine Russia Limited (GMR) 200611GREENSISAM S.p.A. EVERGREEN ITALY S.p.A.EIT (PCT) ESA1999 JHX 2

FRSSRX 7,024TEU8,073TEU ---/ - : 94 94 41,868,750 41,975,536 100.26% 32,489,980 32,486,820 99.99% 9,378,770 9,488,716 101.17% 2,595,383 2,695,367 103.85% 6,783,387 6,793,349 100.15% 8,514,571 8,477,421 99.56% 637,861 604,980 94.85% 14,660,097 14,665,790 100.04% 2,487,381 2,441,879 98.17% 12,172,716 12,223,911 100.42% 3

4.73% 14.03%21.63% 29.12%4.53 4

1. - 2. 3. 20067,024TEUS8,073TEUC // 4. 5. 2008 2010 2006 2005 S 5

2006 6

1968 1969 /() 1972 /() 1972 1974 1975 / 1976 / 1977 1978 / 1979 / 1979 / 1979 1979 1982 G 1984 1984 / 1985 / 1986 1987 1989 / 1993 1993 1994 ///// 7

1994 1995 1996 /// 1996 // 1996 1996 1997 /// 1997 NK 1997 / 1997 1997 1997 1998 1998 / 1998 1998 / 1998 1999 2000 2000 2000 2000 2001 2001 2001 8

2001 (DNV) ISO-9001:2000 2001 ()(TESCO) 2001 TEU 2001 2002 //(NUE)//(WAE) 2002 2002 2002 CMA CGM/ 2002 ANLHANJIN// 2002 2002 (Environmental Excellence Award) 2002 ZIM/ZIM/ 2002 2002 (Safety, Quality & Environmental Management) 2002 ISO 9001:2000 2002 2003 9

2003 CMA CGM/CMA CGM 2003 Lloyd s List(Excellence in Commitment to Training) 2003 LOG NETFirst Annual LOG-NET E-Commerce Excellence Award 2003 Hapag-Lloyd 2003 2003 2003 2003 2003 Simatech Shipping & Forwarding LLC // 2004 LOG NET2004 (LOG-NET E-Commerce Excellence Award) 2004 2004 Hapag Lloyd 2004 2004 TEU 2005 PCT 2005 (Cosco)(Lloyd Trestino) 2005 2005 //(JHX) 2005 (FRS) 10

2005 Global Marine Russia Limited (GMR) 2005 2005 2006 1. 2. 3. 4. 5. 6. 7. 8. 11

9. 10. () 11. 12. 13. 14. 15. 16. 12

13

1. (1) 95331 () 93.06.24 3 69.11.15 3 % % % % 107,269,672 4.997 125,076,402 4.590 0 0 0 0 93.06.24 3 57.9.3 151,917,721 7.076 177,136,011 6.500 28,499,593 1.046 0 0 1 2 71.6.12 93.06.24 3 (4) 325,271 0.015 379,265 0.014 0 0 0 0 93.06.24 3 71.6.12 269,194,545 12.539 313,880,749 11.518 0 0 0 0 93.06.24 3 93.6.24 26,057 0.001 30,382 0.001 0 0 0 0 2 71.6.12 93.06.24 3 (5) 269,194,545 12.539 313,880,749 11.518 0 0 0 0 () () () () () () () () () () () () () () () () () () () () () () 2 93.06.24 3 90.6.20 269,194,545 12.539 313,880,749 11.518 0 0 0 0 () 1 2 371.6.1277.3.2481.5.993.6.23 472.4.190.6.19 572.4.172.6.1073.6.1281.5.8 693.6.242,146,888,24095.3.312,725,167,586 14

(2) 941231 (3) 941231 15

(4) 2 1 2 3 4 5 6 7 1 2 3 4 5 6 7 16

2. 95331 () (%) (%) (%) 91.08.05 30,382 0.0011 0 0 0 0 93.05.15 9,147 0.0003 1 0 0 0 94.07.01 11,658 0.0004 0 0 0 0 93.07.01 2,494 0.0001 0 0 0 0 95.03.29 0 0 0 0 0 0 94.01.01 3,184 0.0001 0 0 0 0 95.03.09 0 0 8,027 0.0003 0 0 91.08.01 34,152 0.0013 0 0 0 0 93.08.05 0 0 0 0 0 0 86.08.01 4,473 0.0002 0 0 0 0 89.10.01 12,428 0.0005 4,297 0.0002 0 0 93.01.01 0 0 0 0 0 0 93.01.01 36,822 0.0014 0 0 0 0 93.01.01 23,502 0.0009 0 0 0 0 94.01.01 7,663 0.0003 0 0 0 0 94.01.01 0 0 0 0 0 0 94.01.01 0 0 0 0 0 0 () LLOYD TRIESTINO () () 17

() () (%) (%) (%) 93.01.01 0 0 0 0 0 0 95.01.01 0 0 0 0 0 0 95.01.01 10,000 0.0004 8,741 0.0003 0 0 95.01.01 588 0 0 0 0 0 94.12.08 20,492 0.0008 0 0 0 0 94.07.01 93,678 0.0034 15,574 0.0006 0 0 95.01.01 0 0 0 0 0 0 93.10.16 424 0 0 0 0 0 95.01.01 0 0 0 0 0 0 91.04.01 0 0 454 0 0 0 95.01.01 0 0 0 0 0 0 93.01.01 10,000 0.0004 0 0 0 0 94.01.01 0 0 0 0 0 0 95.01.01 16,828 0.0006 0 0 0 0 94.01.01 0 0 0 0 0 0 95.01.01 5,000 0.0002 0 0 0 0 94.07.01 10,008 0.0004 0 0 0 0 LT LLOYD TRIESTINO LLOYD TRIESTINO () () ()LKB 18

19 3. (1) 3 () 0 0 14,631 25,933 56,000 56,000 0 0 0 0 0 0 0 0 70,631 81,933 0.58 0.67 0 0 0 0 1 2 1 2 3 94 94 2,000,000 0 0 2,000,0005,000,000 0 0 5,000,00010,000,000 2 2 10,000,00050,000,000 3 3 50,000,000 0 0 5 5

(2) (2) () (1) (1) 0 0 0 0 4,400 4,400 4,400 4,400 0.04 0.04 0 0 1 294 94 2,000,000 1 1 2,000,0005,000,000 1 1 5,000,00010,000,000 0 0 10,000,00050,000,000 0 0 50,000,000 0 0 2 2 20

(3) 1 () 26,436 26,436 15,895 15,895 832 0 0 0 832 0 0 0 43,163 43,163 0.35 0.35 0 0 0 0 1 94 94 2,000,000 2 2 2,000,0005,000,000 10 10 5,000,00010,000,000 0 0 10,000,00050,000,000 0 0 50,000,000 0 0 12 12 21

(4) 941231 (1) (2) 0 0 0 2,433 2,433 0.02 22

(1) (2) 1 (1) (2) (3) (4) (5) (6) 2 94 (5) A. 93 94 93 94 0.42% 0.58% 0.53% 0.67% 0.03% 0.04% 0.03% 0.04% 0.24% 0.35% 0.24% 0.35% B. 23

1. 94 331 11,370,582 0 0 0 16,103,273 0 0 0 34,478 0 0 0 48,469 0 0 0 28,534,613 0 0 (801,000) 105,453 0 0 0 2,762 0 0 0 28,534,613 0 0 (801,000) 6,741 0 0 0 567 0 0 0 28,534,613 0 0 (801,000) 2,762 0 0 0 831 0 0 0 1,059 0 0 0 226 0 0 0 () 0 0 289 0 0 0 () 0 0 3,104 0 0 0 24

94 331 0 0 0 0 406 0 0 0 1,129 0 0 0 0 0 0 0 3,347 0 0 0 2,136 0 0 0 696 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 10,000 0 53 0 0 0 0 0 0 0 () 28,516 0 0 0 0 0 0 0 38 0 0 0 25

94 331 0 0 0 0 0 0 0 0 () 0 0 0 0 10,000 0 0 0 0 0 () 0 0 0 0 0 0 () 0 0 909 0 0 0 95.01.0195.03.0995.03.29 2. 3. 26

941231 (%) (%) (%) () 424,061,830 39.74 54,526,081 5.11 478,587,911 44.85 () 692,412,427 20.43 211,872,204 6.25 904,284,631 26.68 () 5,500,000 55.00 0 0 5,500,000 55.00 () 3,125,000 31.25 0 0 3,125,000 31.25 () 32,000,000 40.00 0 0 32,000,000 40.00 () 16,000,000 20.00 0 0 16,000,000 20.00 1,000,000 25.00 0 0 1,000,000 25.00 4,765,000 100.00 0 0 4,765,000 100.00 27

93.06 10 2,733,000,000 27,330,000,000 2,146,888,240 21,468,882,400 10,489 93.10 10 3,000,000,000 30,000,000,000 2,308,187,708 23,081,877,080 128,812,666 32,486,802 93.12 10 3,000,000,000 30,000,000,000 2,425,942,535 24,259,425,350 117,754,827 94.03 10 3,000,000,000 30,000,000,000 2,461,352,529 24,613,525,290 35,409,994 94.06 10 3,000,000,000 30,000,000,000 2,461,385,998 24,613,859,980 33,469 94.08 10 3,300,000,000 33,000,000,000 2,707,524,598 27,075,245,980 246,138,600 95.03 10 3,300,000,000 33,000,000,000 2,725,167,586 27,251,675,860 17,642,988 09301126240 09301195980 0930136258 09401017530 0940106650 09401130740 09401179420 0940129447 09501070730 () 2,725,167,586 574,832,414 3,300,000,000 95.4.25 28

95425 1 42 245 134,726 216 135,230 1,224,878 37,330,424 185,090,505 1,734,869,997 766,651,782 2,725,167,586 0.04 1.37 6.80 63.66 28.13 100.00 95425 1 999 50,848 14,015,667 0.5143 1,000 5,000 51,147 120,146,287 4.4088 5,001 10,000 15,790 113,116,658 4.1508 10,001 15,000 6,317 75,287,746 2.7627 15,001 20,000 3,196 56,801,332 2.0843 20,001 30,000 2,976 72,906,581 2.6753 30,001 50,000 2,194 85,447,548 3.1355 50,001 100,000 1,633 116,154,312 4.2623 100,001 200,000 603 84,118,082 3.0867 200,001 400,000 273 75,818,743 2.7822 400,001 600,000 80 38,879,522 1.4267 600,001 800,000 34 23,036,424 0.8453 800,0011,000,000 22 19,980,647 0.7332 1,000,001 117 1,829,458,037 67.1319 135,230 2,725,167,586 100.000 29

() 313,880,749 11.518 223,040,349 8.184 177,136,011 6.500 125,337,767 4.599 125,162,338 4.593 125,076,402 4.590 93,623,869 3.436 62,458,367 2.292 59,605,084 2.187 47,079,377 1.728 30

93 94 950428 (3) (1) 34.91 30.82 23.45 18.61 17.41 19.75 31.43 27.15 21.63 21.55 22.43 22.80 19.47 (2) - 2,512,726() 2,698,009() 2,897,261() 5.29 4.53 0.42 4.81 (2) - 2 1.8-1 0.7 - - - - - - - 5.94 5.99-15.72 15.08-0.0636 0.0663-1 294 3 31

1. 2. 9542494 1.870 3. 32

95 27,075,245,980 1.8 0.07 95 1. 2. 1-/ 3. / 33

1. 2. 95424 (1) 70,000,000 60,400,000 (2) 00% (3) 4.48 3. (): 1. 80,000,000 80,000,000 2. 43,800,000 43,800,000 (4) 93 34

~ ~ 2.600% 3.400% ~ ~ () () () () 35

~ ~ 3.900% 1.47% 4%-6MLibor ~ ~ () () () () () 36

93112 9396 0% 0% 5 98 111 5 98 95 1,634,400,000 1,481,800,000 ( ) () 2,365,600,000 3,018,200,000 () 37

93112 9311298111 0% 0.2%0.6 38

() // () () 92103 39

115% 28.6 () 1. 1 2 3 4 5 6 40

2. 1 2 3 3. 1 4. 15% () 9397 41

( 630) 80% () 100,000 100,000 110% 1 2 90.37% 90.91% 3 42

43

1. () () (1) 0.2% (2) 2. 10% ( ) 3. ( ) 100.6% 44

45

()( ) 9396 93969895 0%3.53.5 46

() ( ) () //( ) () 93824 103% () 47

()() 27.7103%28.5 () ( )( ) 1 (2)+(3) 1 2 3 () 15%( ) 48

=-(-15%)10 () (1) () (2) + 1 2 () () ()() 90% () 103%( ) ()80% 49

() () ()()() 135% ()103% () 110% ( ) 50

() 1. () 2. () () 3. () () 1. () 2. () () 3. () 51

() ( )( ) () 4.5 (10%) ( )( ) () ( 52

3.5( ) ( ) 53

93 94 95428 137.5 123.25 105.85 102 100.8 100 116.62 109.59 102.11 26.98(1) 24.07(2) 24.07 9311228.6 (1) 9392026.98 (2) 9482624.07 93 94 95428 130.6 124 109.95 107 102.3 101.50 117.67 110.33 105.94 26.89(1) 21.68(2) 21.68 939628.5 (1) 9392026.89 (2) 9482623.9994101321.68 54

860902 870910 881006 891026 8582 901107 911008 921015 931126 941021 115,000,000 18.35 6,267,030 GDRS 2,025,506 GDRS 10 10 Citibank N.A. New York Citibank N.A. New York Citibank N.A. Taipei Citibank N.A. Taipei 479,874 GDRS 2 94 95428 10.90 5.78 8.33 7.22 6.08 6.56 55

85619(85)()35410 8582 6,267,03062,670,300 USD 18.35505USD 115,000,000 2,025,50695428 8,292,53682,925,411 479,8744,798,791 56

1. (1) (2) (3) (4) (5) (6) 2. 20052004 200538,073 TEU27,024 TEU 2005 2005 : (1) RD (2) U (3) UD (4) R (5) ES 57

(6) // (7) GX (8) G (9) /CXUS (10) GX (11) (12) P (13) HPL (14) GK-LINEMISCSCIZIM LINE (15) G (16) GHPL (17) PHAMBURG SUD NYK (18) /CMA CGM S.A. (19) /CMA CGM S.A. 58

(20) ZIM (21) HAMBURG SUD (22) (23) (24) (25) TNWA : 1 2 3 4 5 TARANTO 6 COCO SOLO 2005 59

2005 2006 2006 8%~10%2006 20062005 (EDI) 60

(SAFETYQUALITYENVIRONMENT) 2006 (TACOMA) (1) 20052004 200610~12% 4~5% 2006 (2) 61

2006 (3) 2005TEU TEU7% 5.5% 2005 2006 10 (4) 2005 2004 200613% 2006 (5) 200520047.5% 15.8% 62

BAF3.3% 20064~6% (6) 20052004 200594% 200485% 20052004US$100/ TEU 20065~6% (7) 20052004 5%14% 2005 (8) 200520047%26%2006 2006 (9) 2005200414% 4%22%31%2006 3%2005 (10) 20042005 200413%24%2005 2004200413% 4%2006 63

2006 2005 (11) 2005 2004 20062005 20052005 (12) 20048%1997 2006 2005 2006 (13) 200520047%10% 2006/ (14) 2005200417%45% 64

10% 94 93 123,455,891 119,401,349 13,788,745 9,632,212 23,558 75,277 95,416 34,030 2,098,751 748,700 1,274,503 597,510 140,736,864 130,489,078 65

95428 2004 2005 20064 28 1004 1093 1087 316 333 314 1320 1426 1401 38.9 39 38.7 9.2 10.3 10.1 0.0% 0.0% 0.0% 3.6% 4.7% 5.0% 70.3% 71.0% 72.5% 14.4% 12.7% 11.6% 11.7% 11.6% 10.9% 94ECP39 (BILGE WATER SEPARATOR) 94USD 2,800,000 1. (1) 66

(2) MARPOL 73/781973 197819831021992 100 PPM15 PPM1993 (BILGE WATER SEPARATOR)15PPM (SEWAGE TREATMENT) (INCINERATOR) 200011() ((NOx)MARPOL 73/78) EIAPP2005519 (3) 2003124(AMERICAN BUREAU OF SHIPPING)(SAFETY,QUALITY AND ENVIRONMENT MANAGEMENT)SQE 2002821 ECP39 5 PPMECP 2. RoHS: 1. 2. MARPOL 73/78 3. 4. 67

5. 20055200512(Oil Water Seperator)Marpol MEPC 107(49) IMO: International Maritime Organization. MEPC: Maritime Environment protection Committee IOPP: Intenational Oil Pollution Prevention IAPP: Intenational Air Pollution Prevention EIAPP: Engine Intenational Oil Pollution Prevention SQE: Marine Safety, Quality & Environmental Management DOC: Document of Compliance 1. 2. 3. 4. 5. 6. 7. 8. 9. 68

751224 56846 () 9471 1. 2. 1. 2. / 3. 4. 5. 6. 7. 8. 9. 10. 69

11. 12. 1. 2. 3. 4. 5. 24 6. 9525 70

1. LLOYD TRIESTINO 2002.05.01 DI NAVIGAZIONE (/) S.P.A. 90 2. HATSU MARINE LIMITED. LLOYD TRIESTINO DI 2003.04.14 NAVIGAZIONE S.P.A. (/) 90 LLOYD TRIESTINO DI 2001.05.29 NAVIGAZIONE S.P.A. (/) 90 LLOYD TRIESTINO DI 1999.08.03 NAVIGAZIONE S.P.A. (/ 90 LLOYD TRIESTINO DI 1993.08.12 NAVIGAZIONE S.P.A. (/) 90 LLOYD TRIESTINO DI 2003.10.28 ( NAVIGAZIONE S.P.A. /) 90 LLOYD TRIESTINO DI 2002.08.01 NAVIGAZIONE S.P.A. (/) 90 71

1. COSCO 1999.05.13 COSCO CONTAINER LINE LT2005 (/) 2. LLOYD TRIESTINO DI NAVIGAZIONE 90 S.P.A. 1. HAPAG LLOYD 2004.05.22 2 2. HANJIN SHIPPING 2005.05.21( (/) 90) NEW WORLD 2002.05.29 ALLIANCE 2003.05.28( (/) 90) HANJIN SHIPPING 2004.05.22 2005.05.21 ( (/) 90) HAMBURG SUD 2001.09.26 2002.09.25 ( (/) 90) HAMBURG SUD 2001.11.08 2002.11.07 ( (/) 90) CMA CGM S.A. 2002.03.15 CMA CGM 2003.03.31 ( (/ 90) ) 1. YANG MING LINE 2002.01.06 5 2. SCI 2003.01.05 ( (/ 3. MISC 120 ) 4. K LINE ) 5. ZIM LINE 72

ZIM ISRAEL 2002.08.28 ZIM NAVIGATION 2003.08.27 ( (/) CO, LTD. 90) CHINA SHIPPING 2005.04.12 CHINA CONTAINER LINES 2006.04.11 ( SHIPPING 90) (/) CMA CGM S.A. 2003.03.05 CMA-CGM 2004.03.26 ( (/ 90) ) LLOYD TRIESTINO DI 2003.10.28 ( NAVIGAZIONE S.P.A. /) 90 1. LLOYD TRIESTINO 2003.04.11 2 DI NAVIGAZIONE 2004.04.10 ( (/ S.P.A. 90) ) 2. ZIM ISRAEL NAVIGATION CO, LTD. 73

YANG MING MARINE 2002.09.01 TRANSPORT CORP. () 90 RCL FEEDER PTE 2002.09.01 RCL LTD. () 90 MCC TRANSPORT 2002.10.15 MCC SINGAPORE PTE LTD. 2004.04.14( (/) 90) SEA CONSORTIUM 2005.11.13 SEACON TPE LTD. ( 60 ) WAN HAI LINES LTD. 2002.09.01 WHL( //) 90 1. SAMUDERA 2005.04.29 2 SHIPPING LINE LTD. 2006.04.28( (// 2. HYUNDAI 90) /) MERCHANT MARINCE CO LTD. 1. HAPAG-LLOYD 2003.02.25 2 (ASIA) PTE LTD (// 2. COSCO 90 /) CONTAINER LINE AGENCIES LIMITED 74

1. YI TONG LINES CO 2003.09.01 2 LTD. 2004.08.31( (/) 2. YANG MING MARINE 90) TRANSPORT CORP. PENDULUM EXPRESS 2004.08.21 PenEX LINES LTD. 2005.08.20( (// 90) ) 1. WAN HAI LINES 2004.09.27 2 LTD. 2005.09.26( (/) 2. YANG MING MARINE 90) TRANSPORT CORP. () 91.12.17~96.08.06 7.92 91.05.27~96.05.27 10 91.08.27~96.08.27 4 95.01.23~98.01.23 9 92.09.29~97.06.06 5 92.06.27~97.06.27 30 92.11.11~96.11.11 3 75

90.12.5 91.5.23 91.6.26 90 172864 91 002776 09100130043 1,500,000 1,016,500 2,500,000 (1) 1,500,000 (1) 1,000,000 5 (2) 16,500 (1) 1,500,000 5 (2) 1,000,000 90.10.29 91.5.24 91.6.27 92.5.21 92.11.21 93.8.9 09100130043 2,500,000 (1) 1,500,000 5 (2) 600,000 5 (3) 400,000 0920133960 4,000,000 (1) 4,000,000 5 0930003856 4,500,000 (1) 4,500,000 5 92.5.22 92.11.22 93.8.10 76

2,500,000 2,500,000 1,500,000 950,000 3,000,000 2,500,000 1,500,000 77

95331 94 93 92 91 90 () 16,177,619 28,747,380 17,458,662 19,386,138 14,085,040 15,059,845 61,332,033 54,365,909 48,230,227 38,297,020 32,405,373 61,966,589 8,282,320 8,811,455 10,752,285 12,804,245 13,722,007 8,537,912 124,492 146,175 140,536 160,613 170,814 124,492 634,131 660,338 1,177,597 347,934 367,498 610,355 86,550,595 92,731,257 77,759,307 70,995,950 60,750,733 86,299,193 14,353,095 17,319,942 19,006,239 17,986,692 10,918,670 12,798,893 22,366,514 20,366,466 18,447,648 11,571,713 8,468,039 20,692,832 17,613,204 14,879,608 12,852,754 8,151,226 3,003,467 2,441,938 852,781 687,689 462,944 3,203,166 25,824,601 40,454,712 37,472,224 33,553,989 24,234,368 24,153,285 45,501,284 38,832,451 34,014,946 24,887,411 27,075,246 24,259,425 21,468,777 21,047,821 20,434,778 27,251,676 4,640,403 4,030,933 1,577,479 1,824,709 1,442,834 4,846,452 28,367,360 23,651,407 14,215,092 11,492,229 11,550,780 29,569,773 18,604,835 12,854,865 11,031,272 10,897,737 124,276 (11,948) (35,671) (67,576) 897,009 856,564 3,150,328 3,150,628 3,301,569 415,109 (298,003) (594,695) (156,126) (63,698) (4,487) (298,003) 43,979 72,911 43,481 25,943 (141,533) 236,625 60,725,994 52,276,545 40,287,083 37,441,961 36,516,365 62,145,908 47,229,973 38,926,856 36,981,004 35,863,322 () 95 78

95331 94 93 92 91 90 () 41,975,536 41,924,420 35,207,238 21,649,409 17,095,341 8,705,042 9,488,716 7,821,858 1,040,374 3,061,034 3,399,813 1,626,355 6,793,349 5,087,649 (1,678,653) 33,753 355,622 1,019,257 8,477,421 9,288,124 6,837,874 2,567,907 3,233,535 607,541 604,980 772,292 1,193,692 1,284,582 1,466,741 67,680 14,665,790 13,603,481 3,965,529 1,317,078 2,122,416 1,559,118 12,223,911 12,084,669 3,604,776 1,083,232 1,695,419 1,313,312 (96,608) 12,223,911 12,084,669 3,604,776 1,083,232 1,695,419 1,216,704 () 4.53 4.81 1.44 0.45 0.72 0.42 ()95 94 93 92 91 90 79

95 331 94 93 92 91 90 () 29.84 43.63 48.20 47.26 39.89 27.99 887.34 879.48 586.86 465.07 396.40 857.30 112.71 165.98 91.86 107.78 129.00 117.67 106.97 162.66 88.68 103.41 125.84 110.64 32.50 23.58 5.16 2.23 2.70 32.89 14.13 13.15 10.38 7.57 6.58 16.34 26 28 35 48 55 22 4.91 4.29 2.99 1.63 1.08 4.14 0.47 0.49 0.47 0.33 0.28 0.40 14.03 14.71 5.81 2.87 4.31 1.45 21.63 26.11 9.28 2.93 4.78 1.98 25.09 20.97 (7.82) 0.16 1.74 3.74 54.17 56.08 18.47 6.26 10.39 5.72 29.12 28.83 10.25 5.00 9.92 13.98 () 4.53 4.81 1.44 0.45 0.72 0.42 142.11 (19.09) 13.14 (4.70) (6.31) 37.31 120.39 27.88 91.11 83.94 125.37 1485.39 15.66 (4.55) 2.51 (1.85) (2.00) 4.81 1.49 1.70 (1.91) 128.31 13.62 7.80 1.07 1.13 0.64 (0.03) (0.40) 1.05 20% 1. 94 2. 94 ()95 80

94 93 92 91 90 50.47 58.92 68.03 68.49 64.53 183.38 202.71 154.05 150.83 145.96 117.14 133.10 89.76 79.48 75.51 107.67 125.33 83.82 72.38 71.28 10.28 9.11 3.16 1.54 1.68 10.27 10.28 9.42 8.31 7.57 36 35 39 44 48 55.86 65.85 84.23 83.45 61.62 () 21.54 25.76 32.68 29.70 37.70 7 6 4 4 6 2.67 2.38 1.84 1.19 0.95 1.06 1.00 0.87 0.61 0.54 10.33 11.31 5.65 2.98 3.97 20.81 27.95 12.95 3.36 4.80 47.09 50.66 23.36 8.40 15.76 55.91 61.54 25.21 7.02 10.61 8.88 10.28 4.71 1.83 3.06 () 4.63 5.34 2.21 0.58 0.81 85.56 33.43 27.58 2.80 15.03 163.55 115.28 77.78 56.73 72.60 17.10 8.04 8.36 0.48 3.33 10.36 9.99 19.58 33.90 14.84 1.15 1.18 2.00 (1.80) 149.38 20% 9493 : 95 81

1 (1) (2) 2 (1) (2) (3) 3 (1) () () (2) 365 (3) (4) () () (5) 365 (6) (7) 4 (1) (2) (3) (4) 5 (1) (2) ( ) (3) ()( ) 6 (1) () (2) () 82

94 219 95 9 5 4 2 6 83

50,863,785 44,125,24858.77%47.58% 7,169,1668,591,961 48.88%63.16% 84

(88)()112701 85

941231 931231 941231 931231 % % % % 11xx-12xx 21xx 1100.1 $4,701,240 5.43 $4,171,007 4.50 2100.11 $1,800,000 2.08 $2,795,303 3.02 1110.2 4,402,881 5.09 16,990,797 18.32 2110.12 799,755 0.92 2,099,091 2.26 1120 28-35 - 2120 5,175 0.01 11,282 0.01 1140.3 2,399,846 2.77 3,066,671 3.31 2130 - - - 1,388-1150.3 108,333 0.13 365,055 0.39 2140 2,086,067 2.41 1,426,649 1.54 1160-1170.4 248,098 0.29 284,534 0.31 2150 679,187 0.78 1,843,622 1.99 1180.4 32,611 0.04 27,247 0.03 2160.23 1,390,787 1.61 358,918 0.39 1190.5 613,203 0.71 61,058 0.07 2170.13 2,734,424 3.16 3,359,876 3.62 1230.6 645,904 0.75 439,249 0.47 2210-2220 142,586 0.16 98,016 0.11 1250 176,693 0.20 130,769 0.14 2190-2,590-10,761 0.01 1260 865-4,614-2270.14 4,298,000 4.97 4,525,199 4.88 1286.23 27,992 0.03 - - 2280 414,524 0.48 769,873 0.83 1291 132,050 0.15 135,200 0.15 2286.23 - - 19,964 0.02 1280.7 2,687,875 3.10 3,071,144 3.31 14,353,095 16.58 17,319,942 18.68 16,177,619 18.69 28,747,380 31.00 24xx 2410.15 7,505,039 8.68 9,957,832 10.74 14xx.8 2420.16 963,000 1.11 10,735,000 11.58 1421 8,468,039 9.79 20,692,832 22.32 142101 58,638,028 67.75 51,589,348 55.63 28xx 142102 2,681,112 3.10 2,640,919 2.85 2810.17 406,951 0.47 624,127 0.67 1422 12,581 0.01 - - 2820 125-85 - 1428 312-312 - 2861.23 2,272,102 2.63 1,493,437 1.61 1440 - - 135,330 0.15 2881 324,289 0.37 324,289 0.35 61,332,033 70.86 54,365,909 58.63 3,003,467 3.47 2,441,938 2.63 15xx.9 2xxx 25,824,601 29.84 40,454,712 43.63 1501 1,998,859 2.31 1,998,859 2.16 1521 1,511,958 1.75 1,356,403 1.46 31xx.18 1532 3,616,970 4.18 3,079,785 3.32 3110 27,075,246 31.28 24,259,425 26.16 1544 116,851 0.14 175,468 0.19 32xx.19 1551 16,697,252 19.29 17,102,718 18.44 3210 3,147,552 3.63 2,545,963 2.75 1552 9,877,935 11.41 9,877,935 10.65 3250 371-371 - 1553 625,223 0.72 738,990 0.80 3260 1,485,767 1.72 1,477,886 1.59 1561 210,927 0.24 203,638 0.22 3280 6,713 0.01 6,713 0.01 15xx 34,655,975 40.04 34,533,796 37.24 4,640,403 5.36 4,030,933 4.35 15x9 (26,733,457) (30.89) (25,750,580) (27.77) 33xx.20 1672 359,802 0.42 28,239 0.03 3310 5,220,594 6.03 4,012,127 4.33 8,282,320 9.57 8,811,455 9.50 3320 957,344 1.11 957,344 1.03 3350 22,189,422 25.64 18,681,936 20.14 17xx 28,367,360 32.78 23,651,407 25.50 1770.17 124,492 0.14 146,175 0.16 34xx 3420 897,009 1.04 856,564 0.92 18xx 3430 (298,003) (0.35) (594,695) (0.64) 1820 169,208 0.20 42,408 0.05 3440 43,979 0.05 72,911 0.08 1830 113,702 0.13 198,997 0.21 642,985 0.74 334,780 0.36 1844.10 351,221 0.41 418,933 0.45 634,131 0.74 660,338 0.71 3xxx 60,725,994 70.16 52,276,545 56.37 1xxx $86,550,595 100.00 $92,731,257 100.00 2xxx-3xxx $86,550,595 100.00 $92,731,257 100.00 ( 86

94 93 % % 4000.21 $41,975,536 100.00 $41,924,420 100.00 5000.22 (32,486,820) (77.40) (34,102,562) (81.34) 5910 9,488,716 22.60 7,821,858 18.66 6000 (2,695,367) (6.42) (2,734,209) (6.52) 6200.22 (2,695,367) (6.42) (2,734,209) (6.52) 6900 6,793,349 16.18 5,087,649 12.14 7100 7110 134,141 0.32 62,721 0.15 7121.8 7,683,397 18.31 8,959,281 21.37 7122 93,222 0.22 52,007 0.12 7130 120,395 0.29 72,807 0.17 7140 200,281 0.48 - - 7160 42,262 0.10 - - 7210 59,240 0.14 49,298 0.12 7240 - - 3,619 0.01 7480.8 144,483 0.34 88,391 0.21 8,477,421 20.20 9,288,124 22.15 7500 7510 (465,553) (1.11) (602,444) (1.44) 7522.8 (28,343) (0.07) - - 7530 (11,019) (0.03) (4,575) (0.01) 7540 - - (4,867) (0.01) 7560 - - (32,579) (0.08) 7580 (77,895) (0.18) (80,549) (0.19) 7880 (22,170) (0.05) (47,278) (0.11) (604,980) (1.44) (772,292) (1.84) 7900 14,665,790 34.94 13,603,481 32.45 8110.23 (2,441,879) (5.82) (1,518,812) (3.62) 9600 $12,223,911 29.12 $12,084,669 28.83 ()().24 9750 $5.44 $4.53 $5.41 $4.81 9850 $5.13 $4.27 $4.99 $4.43 ( 87

9311 $21,468,777 $1,577,479 $3,651,650 $957,344 $9,606,098 $(11,948) $3,150,328 $(156,126) $43,481 $40,287,083 92 360,477 (360,477) - 1,288,127 (1,288,127) - (1,288,127) (1,288,127) (50,000) (50,000) (22,100) (22,100) 1,502,521 2,545,963 4,048,484 48,751 48,751 (141,991) (141,991) 731 731 11,948 11,948 (790,804) (790,804) 29,430 29,430 (18,207) (18,207) (1,493,549) (1,493,549) (9,411) (9,411) (420,362) (420,362) 93 12,084,669 12,084,669 931231 24,259,425 4,030,933 4,012,127 957,344 18,681,936-856,564 (594,695) 72,911 52,276,545 93 1,208,467 (1,208,467) - 2,461,386 (2,461,386) - (4,922,772) (4,922,772) (80,000) (80,000) (43,800) (43,800) 354,435 601,589 956,024 7,859 7,859 22 22 149,382 149,382 (28,932) (28,932) (595) (595) (118,348) (118,348) 9,411 9,411 297,287 297,287 94 12,223,911 12,223,911 941231 $27,075,246 $4,640,403 $5,220,594 $957,344 $22,189,422 $ - $897,009 ($298,003) $43,979 $60,725,994 88

94 93 $12,223,911 $12,084,669 1,123,480 1,503,442 61,386 59,536 186,275 183,598 77,717 78,948 (109,376) (68,232) (7,039,292) (8,741,750) - (3,968) 1,300 - (12,581) - () (200,281) 4,867 () 27,043 (3,619) 3,400 7,029 () 12,761,154 (11,581,469) () 923,554 (491,960) 13,654 403,586 - (552,145) (61,058) (206,655) (3,047) () (42,175) 32,228 () 597,243 (457,047) (935) (752) () 3,150 (848) 8,733 9,627 () (512,512) 1,385,883 1,031,869 302,685 () (625,452) 609,494 () 4,509 (14,934) () (182,553) 254,836 101,796 27,481 730,708 1,174,885 () 20,396,925 (3,305,890) (64,220) (61,737) - 40,041 22,727 413,371 () 144,741 (144,741) (1,161,681) (857,255) 127,134 756,755 () (126,800) 912 (64,973) (95,542) 85,130 106,542 () (1,037,942) 158,346 (995,303) (1,270,211) () (1,299,336) 529,536 () (1,500,000) 6,000,000 () (9,999,199) 446,140-349,666 40 - (4,916,710) (1,288,127) (118,242) (72,100) () (18,828,750) 4,694,904 530,233 1,547,360 4,171,007 2,623,647 $4,701,240 $4,171,007 $498,221 $701,983 - - $498,221 $701,983 $679,302 $41,130 $4,298,000 $4,525,199 $2,461,386 $1,288,127 $956,024 $4,048,484 89

() 1. 57925 2. 71112 7676 92194931231 1,4271,306 1. (1) (2) (3) 12 1 12 90

2 3 2. (1) (2) 3. 4. 5. 6. 91

7. 8. (1) 20% () () (2) 20% 5 50% (3) 14 (4) 7 50%50% 9. (1) (2) 92

(3) $3,000 10. 35 ( ) 11. 5 2~3 12. (1) (2) 93

(3) 13. (1) 1515 45 (2) 91522910913227110091 531091003376 91310.76%8.25% 9251309232103200 0920046375924 8.25%9.60% (3) 9471 6% (4) 8418 15 94

14. 32 15. (1) 10% (2) 22 (3) 12 16. () () () 17. (1) 95

14 (2) 18. 27 (1) (2) (3) (4) 96

(5) 9435 94 1. 94.12.31 93.12.31 $88,689 $51,006 46,323 82,906 8,379 89,689 1,071,828 1,474,578 47,825-3,547,651 2,451,292 - - 50,000 (109,455) (28,464) $4,701,240 $4,171,007 94931.40%~4.34% 2.18%~2.42%931.20% 97

2. 94.12.31 93.12.31 $263,660 $233,204 4,026,665 16,432,370 20,472 40,944 60,587 3,948 80,000 301,791 4,451,384 17,012,257 (48,503) (21,460) $4,402,881 $16,990,797 94931231 3. 94.12.31 93.12.31 $2,437,056 $3,131,294 (35,633) (63,046) (1,577) (1,577) 2,399,846 3,066,671 108,333 365,055 $2,508,179 $3,431,726 4. 94.12.31 93.12.31 $1,571 $6,683 40,700 71,968 70,827 88,246 135,000 117,637 248,098 284,534 32,611 27,247 $280,709 $311,787 10 98

5. 94.12.31 93.12.31 $619,754 $66,951 (6,551) (5,893) $613,203 $61,058 94931231 6. 94.12.31 93.12.31 $645,904 $439,249 7. 94.12.31 93.12.31 $2,629,171 $3,004,641 25,705 24,771 32,999 41,732 $2,687,875 $3,071,144 (1) (2) Greencompass Marine S.A.Lloyd Triestino Di Navigazione S.P.A.Hatsu Marine Limited 99

8. 94.12.31 93.12.31 $61,319,140 $54,230,267 12,581-312 312-135,330 $61,332,033 $54,365,909 (1) 94.12.31 93.12.31 (%) (%) Peony Investment S.A. $41,434,463 100.00 $34,672,963 100.00 () () 72,714 55.00 85,082 55.00 () 401,997 40.00 374,111 40.00 () 7,548,310 39.74 7,224,023 39.74 () 40,827 31.25 33,932 31.25 () 8,982,435 20.43 9,035,433 20.96 () 153,219 20.00 154,995 20.00 () 4,063 25.00 8,809 25.00 58,638,028 51,589,348 Dongbu Pusan Container - - - - Terminal Co., Ltd. () 27,273 5.68 50,000 5.68 () 190,322 4.93 190,322 4.93 () 1,250,000 2.53 1,250,000 2.53 Linden Technologies, Inc. 15,372 2.53 15,372 2.53 () 700,000 1.08 700,000 1.08 () - 0.14 1,300 0.14 2,182,967 2,206,994 100

() 490,801 8.45 426,581 8.73 () 7,344 0.04 7,344 0.04 - - 498,145 433,925 $61,319,140 $54,230,267 1 9493 7,683,3978,959,281 2 9265() 5,000500,000 933 $10.78() 46,382 48,751() 939 39,608 116,351 3 94825931027 ()$11.50 $125,5844,3118.45% 8.73% 4 931022$10() 1,00010,00025% 5 ()94 1,300 101

6 ()947 45.45%$10 22,72722,727 7 ()932 36.5079%$10 113,371109,4033,968 8 ()938 30%$10 300,000300,000 9 Dongbu Pusan Container Terminal Co., Ltd. 300,00093 6 bk 94() 9493 ()7 93 93() bl 94931231 102

(2) 94.12.31 93.12.31 Tuntex 94.03.10-102.03.10 0% $12,581 $- (Thailand) Public Company Limited - - $12,581 $- 86Tuntex (Thailand) Public Company Limited USD180 90 94 THB15,737(12,581) 12,581 (3) 94.12.31 93.12.31 $312 $312 (4) 94.12.31 93.12.31 102.09.12 $- $34,175 Banca Del Gottardo 102.09.24-68,410 Banca Del GottardoMoney Market Fund - 42,156-144,741 - (9,411) $- $135,330 93 1.69%~12.00% 103

9. 94.12.31 $1,998,859 $- $1,998,859 1,511,958 351,503 1,160,455 3,616,970 2,617,335 999,635 116,851 58,278 58,573 16,697,252 13,917,239 2,780,013 9,877,935 9,647,057 230,878 625,223-625,223 210,927 142,045 68,882 34,655,975 26,733,457 7,922,518 359,802-359,802 $35,015,777 $26,733,457 $8,282,320 93.12.31 $1,998,859 $- $1,998,859 1,356,403 324,175 1,032,228 3,079,785 2,250,658 829,127 175,468 102,477 72,991 17,102,718 13,514,725 3,587,993 9,877,935 9,416,178 461,757 738,990-738,990 203,638 142,367 61,271 34,533,796 25,750,580 8,783,216 28,239-28,239 $34,562,035 $25,750,580 $8,811,455 104

(1) (2) 9493USD57,500USD71,000 GARDP&I(PROTECTION & INDEMNITY) 9493USD8,000,000USD1,000,000 (3) 94931231 1,238,6671,370,174 94931,438,964 1,056,96394931231 USD489,093 (4) #116 16 8111 (5) #79~81 10 89 10. 94.12.31 93.12.31 $446,329 $552,491 (24,281) (45,312) 422,048 507,179 (70,827) (88,246) $351,221 $418,933 105

(1) 9091 USD54,648 1.5%94931231 USD12,902USD15,965 (2) 941231 1 USD 2,165 1~2 8,451 2~3 1,143 3~4 1,143 USD 12,902 11. 94.12.31 93.12.31 (%) (%) 1.46~1.53 $1,800,000 1.20~1.35 $2,700,000 - - 3.10 98,790 - (3,487) $1,800,000 $2,795,303 12. 94.12.31 () 94.12.27~95.01.10 $200,000 () 94.12.27~95.01.10 200,000 () 94.12.23~95.01.10 200,000 () 94.12.27~95.01.10 200,000 800,000 (245) $799,755 106

93.12.31 () 93.12.07~94.01.06 $500,000 () 93.12.22~94.01.21 500,000 () 93.12.17~94.01.17 200,000 () 93.12.27~94.01.26 200,000 () 93.12.27~94.01.17 500,000 () 93.12.28~94.01.27 200,000 2,100,000 (909) $2,099,091 (1) (2) 94931.18%~1.35% 1.19%~1.22% 13. 94.12.31 93.12.31 $189,976 $195,005 2,568,550 3,241,837 (24,102) (76,966) $2,734,424 $3,359,876 93 3,241,8379412312,631,650 81.18%922,498,087931231 2,367,23494.76% 107

14. 94.12.31 93.12.31 $1,500,000 $1,500,000 2,798,000 3,025,199 $4,298,000 $4,525,199 15. 94.12.31 93.12.31 $- $1,500,000 1,500,000 1,500,000 1,000,000 1,000,000 1,500,000 1,500,000 1,500,000 1,500,000 1,634,400 2,179,700 1,864,300 2,273,900 6,339 4,232 9,005,039 11,457,832 (1,500,000) (1,500,000) $7,505,039 $9,957,832 (1) (2) 93112( )4,000,000 1 59311298111 2 0% 3 4 108

5 a. 340 30 50%()30 330.20% 340 b. 340 400,000( 10%) c. 6 3303 3 100.60%0.20% 7 a. 310 3 b. 9210310 1520 115.00% 109

$28.6094 1231$24.07 8 a. 3 3 b. (3) 9396( )4,500,000 1 593969895 2 0% 3 4 5 a. 340 3050% 30 110

b. 340 450,000( 10%) c. 6 3.5303.5 7 a. 110 3 b. 938241 35 103.00% $28.50941231 $21.68 8 113 () 3() 111

()12 31() 16. 94.12.31 93.12.31 87.04.21~94.04.21 $- $28,450 89.01.31~96.01.31-181,800 90.06.26~97.03.01-254,520 87.10.20~94.10.20-400,000 91.12.17~96.08.06 396,000 300,000 92.03.07~96.08.06-294,000 94.10.27~95.01.25 500,000-91.05.27~96.05.27 375,000 625,000 94.02.25~96.08.25-165,832 92.03.31~96.03.31-762,891 92.10.01~97.09.08-1,694,760 91.09.03~94.09.03-47,000 93.12.31~95.06.16-200,000 92.06.24~97.06.24-600,000 91.12.16~96.12.16-258,750 93.04.21~98.04.21-1,977,600 93.05.26~96.04.21-1,341,600 91.03.15~95.03.15-75,000 91.12.19~96.12.19-750,000 91.07.23~96.07.23-375,000 112

94.12.31 93.12.31 91.08.27~96.08.27 160,000 240,000 91.11.28~94.11.28-95,000 92.02.27~98.02.27 150,000 150,000 92.09.29~97.06.06 500,000 500,000 92.06.27~97.06.27 1,500,000 2,100,000 91.11.28~94.01.28-75,000 92.11.11~96.11.11 180,000 300,000 92.12.30~94.07.20-120,000 93.09.22~97.09.24-101,610 3,761,000 14,013,813 - (253,614) 3,761,000 13,760,199 (2,798,000) (3,025,199) $963,000 $10,735,000 94930.518%~4.515% 0.518%~4.307% 17. (1) 94 93 $124,724 $91,929 33,437 16,952 (12,567) (9,400) 20,076 20,077 1,607-35,595 14,423 $202,872 $133,981 113

(2) 94.12.31 93.12.31 $(187,653) $(318,637) (684,696) (706,270) (872,349) (1,024,907) (63,171) (136,224) (935,520) (1,161,131) 465,398 400,780 (470,122) (760,351) 100,383 120,459 24,109 25,716 310,091 680,432 (371,412) (690,383) $(406,951) $(624,127) (3) 94 93 3.00% 2.50% 1.50% 1.00% 3.00% 2.50% 18. (1) 9493123133,000,000 30,000,00027,075,24624,259,425 2,707,5252,425,943$10 (2) 946232,461,386 246,139$1027,075,246 720 0940129447826 114

(3) 936241,288,127 128,813$1022,757,009 813 0930136258930 (4) 9493 94 93 () () 20,211 $202,111 67,467 $674,673 15,233 152,324 82,785 827,848 35,444 $354,435 150,252 $1,502,521 19. 10% 20. (1) 9392 26 10% 1%5% (2) 10% 115

(3) ( ) (4) 0%50%100%50% 20% 100%50%0%50% (5) 939294623 93624 () 93 92 93 92 $4,922,772 $1,288,127 $2.00 $0.60 2,461,386 1,288,127 1.00 0.60 80,000 50,000 43,800 22,100 9392 $4.81$4.76$1.44 $1.41 () 93 =(12,084,66980,00043,800)/2,512,726=$4.76 92 =(3,604,77650,00022,100)/2,503,260=$1.41 (6) 9493 116

21. 94 93 $39,415,004 $39,806,406 1,931,446 1,544,234 46,399 162,043 227,083 95,561 355,604 316,176 $41,975,536 $41,924,420 22. 9493 94 $524,414 $1,018,211 $1,542,625 19,527 45,251 64,778 82,126 112,080 194,206 31,257 31,626 62,883 $657,324 $1,207,168 $1,864,492 $230,879 $892,601 $1,123,480 $- $- $- $186,275 $61,386 $247,661 93 $520,473 $962,138 $1,482,611 22,879 42,137 65,016 45,583 68,766 114,349 32,909 29,081 61,990 $621,844 $1,102,122 $1,723,966 $413,705 $1,089,737 $1,503,442 $- $- $- $183,598 $59,536 $243,134 117

23. (1) 94 93 $1,753,544 $650,586 10% - - (44,323) (288,509) (318,434) (3,159) 1,390,787 358,918 318,434 3,159 2,532 2 (582) (18,152) 730,708 1,174,885 $2,441,879 $1,518,812 (2) 94.12.31 93.12.31 1 $(2,288,339) $(1,639,744) 2 $44,554 $126,343 3 $(325) $- 4 $(9,039,180) $(6,292,288) 2,779 1,805 (114,177) (200,466) 130,654 487,334 1,300-7,945 16,235 35,539 (66,256) 5 $35,344 $30,152 - - 35,344 30,152 (7,352) (50,116) $27,992 $(19,964) 118

6 $9,210 $96,191 (325) - 8,885 96,191 (2,280,987) (1,589,628) $(2,272,102) $(1,493,437) (3) 9091 92 (4) 94.12.31 93.12.31 $515,213 $59,982 94 93 3.10% 4.14% 9493 (5) 94.12.31 93.12.31 86 $5,570,596 $5,570,596 87 16,618,826 13,111,340 $22,189,422 $18,681,936 119

24. (1) 94 93 $14,665,790 $12,223,911 $13,603,481 $12,084,669 () 2,425,942 2,425,942 2,146,878 2,146,878 94(0.10/) 245,274 245,274 228,430 228,430 93(0.06/) - - 128,813 128,813 26,793 26,793 8,605 8,605 2,698,009 2,698,009 2,512,726 2,512,726 () $5.44 $4.53 $5.41 $4.81 (2) 94 93 $14,665,790 $12,223,911 $13,603,481 $12,084,669 4,197 3,147 7,596 5,697 $14,669,987 $12,227,058 $13,611,077 $12,090,366 () 2,425,942 2,425,942 2,146,878 2,146,878 94(0.10/) 245,274 245,274 228,430 228,430 93(0.06/) - - 128,813 128,813 26,793 26,793 8,605 8,605 163,409 163,409 213,150 213,150 2,861,418 2,861,418 2,725,876 2,725,876 () $5.13 $4.27 $4.99 $4.43 120

1. (EIS) (Evergreen International S.A.) ()() () (Peony Investment S. A.) ()() ()() ()() ()() ()() ()() ()() ()() () () () Vigor Enterprise S.A. (VIGOR) Clove Holding Ltd. (CLOVE) Hatsu Marine Limited (HML) PT. Multi Bina Transport (MBT) PT. Multi Bina Pura International (MBPI) Greencompass Marine S. A. (GMS) Evergreen Heavy Industrial Co., (Malaysia) Sdn. Bhd. (EHIC(M)) () () () Island Equipment LLC. (ISLAND) Whitney equipment LLC (WHITNEY) Hemlock equipment LLC (HEMLOCK) (943) (944) 121

Taranto Container Terminal S.P.A. (TCT) Lloyd Triestino Di Navigazione S.P.A. (LT) Evergreen Container Terminal (Thailand)(ECTT) Colon Container Terminal S.A. (CCT) PT. Evergreen Marine Indonesia (EMI) Evergreen Star (Thailand) Co., Ltd. (EGT) Evergreen Shipping (S) Pte. Ltd. (EGS) Evergreen Korea Corporation (EGK) Evergreen India Pte. Ltd. (EGI) Gaining Enterprise S.A. (GESA) 2. (1) 94 93 $1,887 - $1,424-101,742 0.24 104,901 0.25 3,214 0.01 - - LT 640,013 1.52 121,029 0.29 HML 284,850 0.68 37,387 0.09 GMS 115,163 0.28 110,909 0.27 EIS 92,422 0.22 84,885 0.20 GESA 17,879 0.04 - - $1,257,170 2.99 $460,535 1.10 122

(2) 94 93 $1,403,285 3.89 $2,217,018 6.02 497,692 1.41 472,385 1.28 626,034 1.78 632,052 1.72 26,546 0.08 122,738 0.33 21,528 0.06 74,364 0.20 20,356 0.06 62,343 0.17 42,935 0.12 46,059 0.12 8,016 0.02 5,658 0.01 12,737 0.04 2,981 0.01 GESA 1,954,468 5.56 2,105,492 5.72 HML 734,806 2.09 420,352 1.14 GMS 1,045,103 2.97 1,053,172 2.86 LT 10,075 0.03 99,112 0.27 EIS 117,826 0.33 95,313 0.26 EMI 74,091 0.21 60,354 0.17 EGT 84,764 0.24 65,486 0.18 EGS 64,588 0.18 30,695 0.18 EGK 49,816 0.14 53,346 0.14 $6,794,666 19.21 $7,618,920 20.78 (3) 1) 9324 EHIC(M)VIGOR( )USD20,669707,06293 1231 123

2) 94 93 () () GMS $- $- $681,010 $- LT 1,048 971 1,567 1,466 - - 16-780 686 - - CCT - - 195-2,645 97 53 17 - - 170 165 TCT - - 379 33 $4,473 $1,754 $683,390 $1,681 3) 936Dongbu Pusan Container Terminal Co. Ltd.93 7 (4) 1) 9493( ) 94 93 % % $57,499 97.06 $48,299 97.98 264 0.45 96 0.19 168 0.28 - - $57,931 97.79 $48,395 98.17 124

2) 9493( ) 94 93 % % $36,954 90.50 $30,484 81.93 1,175 2.88 1,197 3.22 1,227 3.00 202 0.55 $39,356 96.38 $31,883 85.70 3) () 94 93 % % LT $10,095 0.17 $85,775 1.49 HML 734,806 12.50 - - GMS 1,042,061 17.73 1,027,497 17.80 EIS 117,202 1.99 97,121 1.68 GESA 1,964,870 33.42 2,113,399 36.61 829,410 14.11 863,879 14.97 $4,698,444 79.92 $4,187,671 72.55 (5) () 3. 94.12.31 93.12.31 % % $83,602 3.33 $340,659 9.93 24,731 0.99 24,396 0.71 $108,333 4.32 $365,055 10.64 125

94.12.31 93.12.31 % % $12,389 4.42 $8,907 2.86 17,521 6.24 8,092 2.59 GESA - - 8,032 2.58 CCT 1,658 0.59 1,830 0.59 1,043 0.37 386 0.12 $32,611 11.62 $27,247 8.74 $- - $1,388 10.96 $4,828 0.17 $127,511 3.90 36,486 1.32 37,146 1.14 17,660 0.64 57,661 1.76 - - 30,831 0.94 - - 13,128 0.40 - - 9,738 0.30 3,635 0.13 4,921 0.15 LT 425,372 15.38 799,355 24.44 EIS 15,028 0.54 6,338 0.20 GMS 7,413 0.27 156,879 4.80 HML 167,176 6.05 599,635 18.34 1,589 0.06 479 0.01 $679,187 24.56 $1,843,622 56.38 EIS $2,590 1.78 $10,761 9.89 126

3. 94GMS 94 USD20,000941231USD0 0.4%94742 93 4. 94.12.31 93.12.31 GMS USD 290,197 USD 463,116 USD - USD 81,350 TCT EUR 41,213 USD 92,563 HML USD 412,686 USD 352,750 ISLAND USD - USD 56,353 CCT USD 18,353 USD 19,080 WHITNEY USD 8,621 USD - HEMLOCK USD 44,262 USD - 5. (1) 857 (2) 91 94931231 83,602340,659 (3) 846 1,614 127

(4) 94 931231 94.12.31 93.12.31 EIS $6,758 $6,673 GMS 11,326 10,776 GESA 4,557 5,300 HML 3,064 2,022 $25,705 $24,771 (5) 94931231 1 94.12.31 93.12.31 GMS $320,605 $662,240 EIS 434,606 228,700 47,966 - GESA 27,225 152,601 LT 37,016 576,461 HML - 338,753 EMI 56,081 32,991 EGT 3,938 70,150 EGS - 181 $927,437 $2,062,077 2 94.12.31 93.12.31 HML $8,160 $- EGI 50,239 - $58,399 $- 128

(6) 9493() 94 93 $93,472 $96,793 EIS 75,528 32,993 GMS 98,923 49,260 HML 32,744 12,271 GESA 17,879 - $318,546 $191,317 (7) GESAGMSEIS 6. 1. 94.12.31 93.12.31 $380,000 $1,074,069 2. 94.12.31 93.12.31 $130,000 $130,000 1,050 4,550 600-50 600 350 50 $132,050 $135,200 129

3. 94.12.31 93.12.31 $1,947,491 $1,947,491 998,913 1,021,551-669,208 1,760,363 2,199,770-399,583 $4,706,767 $6,237,603 1. 94.12.31 93.12.31 NTD - NTD 282,213 USD 5,000 USD 250 EUR - EUR 1,050 2. 94.12.31 93.12.31 GMS USD 290,197 USD 463,116 USD - USD 81,350 TCT EUR 41,213 USD 92,563 HML USD 412,686 USD 352,750 ISLAND USD - USD 56,353 CCT USD 18,353 USD 19,080 WHITNEY USD 8,621 USD - HEMLOCK USD 44,262 USD - 3. 85619 (85) () 354108582 130

US115,0005,449,592 54,495,920$50.50817,438 6,267,03062,670,300$50.50 US115,000869412312,025,506 20,255,111941231 7,453,148839,3888,393,931 4. 941231 7,592,000JPY760,000 2,459,000JPY760,000 5. 941231 USD 4,020 USD 2,172 USD 1,848 NTD 207,000 NTD 41,400 NTD 165,600 USD 16,650 USD 7,493 USD 9,157 6. 941231 $45,507 GESA 78,075 GMS 59,316 EIS 1,985 KSG 15,738 EPC 2,690 TDS 42,709 HFE 1,614 $247,634 131

7. 941231() 77,455 8. 949312317,597,221 11,027,131 1. 9531 Greencompass Marine S.A.USD37,000() USD63,800 2. 9531() $1258,159697,906 20.02% 132

1. (1) 94.12.31 93.12.31 () () (IRS) USD 157,500 USD 799 USD 120,000 - NTD 1,910,000 - NTD 2,615,000 - (CCS) USD 13,125 - USD 21,875 - (Oil Swap) USD 70,946 USD 3,676 USD 79,46 - USD 23,235 - USD 58,000 - (Foreign Exchange Option) EUR JPY 25,000 1,920,000 - - EUR JPY 31,000 5,415,235 - - (2) (IRS)(CCS)(Foreign Exchange Option)(Forward Exchange Contract) (Oil Swap) 133

(3) (IRS)(CCS)(Forward Exchange Contract)(Foreign Exchange Option) (4) (Oil Swap) (5) a. (IRS) b. (Cross Currency Swap) c. (Foreign Exchange Option) d. (Oil Swap) (6) (Oil Swap) 134

2. 94.12.31 93.12.31 $4,701,240 $4,701,240 $4,171,007 $4,171,007 4,402,881 4,445,872 16,990,797 17,035,662 2,718,089 2,718,089 3,655,296 3,655,296 613,203 613,203 61,058 61,058 61,319,140 60,763,146 54,230,267 54,742,353 12,581 12,581 - - - - 135,330 135,330 169,208 169,208 42,408 42,408 422,048 422,048 507,179 507,179 () 132,050 132,050 135,200 135,200 1,800,000 1,800,000 2,795,303 2,795,303 799,755 799,755 2,099,091 2,099,091 7,040,816 7,040,816 7,110,512 7,110,512 9,005,039 9,005,039 11,457,831 11,457,831 () 3,761,000 3,761,000 13,760,199 13,760,199 () 35,539 35,539 (66,265) (66,265) 125 125 85 85 (IRS) - USD (4,950) - USD (393) (CCS) - USD (948) - USD (2,433) 33,175 NTD 33,175 215,540 NTD 215,540 () (Oil Swap) - USD 2,832 - USD (9,100) 135

(1) (2) (3) () (4) (5) 3. Greencompass Marine S.A. 944 Greencompass Marine S.A.USD12,515 1. (1) (2) (3) (4) 20% (5) 20% (6) 20% (7) 20% (8) 20% (9) 12 136

2. (1) (2) 1 2 3 4 20% 5 20% 6 20% 7 20% 8 20% 9 3. (1) (2) 1 2 3 4 5 6 137

1. 2. 3. 4. 10% 138

~ ~ 2.600% 3.400% ~ ~ 139

~ ~ 3.900% 1.47% 4%-6M Libor ~ ~ : 140

0.00% 0.00% 0. 20% 141

94111231 (%) () () () () 0 Greencompass Marine S.A. NTD 636,990 NTD - 3.82 2 115,163 NTD- - NTD- NTD 11,811,453 NTD 23,622,906 (USD 20,000 ) 1,045,103 1 Evergreen India Pte. Ltd. USD 250 USD 250 3.755~4.509 2 USD- USD- - USD- USD 158,242 USD 316,484 2 Greencompass Marine S.A. USD 60,000 USD - SIBOR+0.9 2 USD- USD- - USD- USD 231,091 USD 462,182 3 Clove Holding Ltd. USD 7,050 USD - - 2 USD- USD- - USD- NTD 11,811,453 NTD 23,622,906 Island Equipment LLC. USD 14,085 USD 14,085 4.7~5.74 2 USD- USD- - USD- NTD 11,811,453 NTD 23,622,906 4 PT. Multi Bina Pura PT. Multi Bina Transport USD 350 USD 150 1.5 2 USD 74 USD- - USD- NTD 11,811,453 NTD 23,622,906 International 5 Armand Investment N.V. Armand Estate B.V. USD 2,691 USD 2,691 3.82 2 USD- USD- - USD- NTD 11,811,453 NTD 23,622,906 6 Hatsu Marine Limited Island Equipment LLC. USD 6,035 USD 6,035 3.79~5.43 2 USD- USD- - USD- NTD 11,811,453 NTD 23,622,906 7 Vigor Enterprise S.A. USD 2,995 USD - 4.38 2 USD- USD- - USD- NTD 11,811,453 NTD 23,622,906 1. 2. 2 1.20% NTD59,057,266*20%=NTD11,811,453 USD1,155,454*20% = USD231,091 Greencompass Marine S.A. USD791,210*20% = USD158,242 2.40% NTD59,057,266*40%=NTD23,622,906 USD1,155,454*40% = USD462,182 Greencompass Marine S.A. USD791,210*40% = USD316,484 142

94111231 () (%) () 0 Greencompass Marine S.A. 3 $118,114,532 $14,385,047 $9,493,080 $- 16.07 $177,171,798 (USD447,185) (USD290,197) 0 2 118,114,532 2,544,489 - - - (USD79,100) (USD-) 0 Taranto Container Terminal S.P.A 1 29,528,633 2,803,730 1,600,742-2.71 (EUR 47,909) (EUR 41,213) 0 Hatsu Marine Limited 3 118,114,532 13,286,478 13,499,979-22.86 (USD413,034) (USD412,686) 0 Whitney Equipment LLC. 3 118,114,532 302,186 282,017-0.48 (USD9,394) (USD8,621) 0 Hemlock Equipment LLC. 3 118,114,532 1,763,578 1,447,905-2.45 (USD54,824) (USD44,262) 0 Colon Container Terminal S.A. 6 29,528,633 613,765 600,380-1.02 (USD19,080) (USD18,353) 0 Island Equipment LLC. 3 118,114,532 2,097,000 - - - (USD65,189) (USD-) 1. 2.50% 3.50% 4.50% 5. 6. 300% 59,057,266*300% = 177,171,798 143

941231 (%) : 4,765 $41,434,463 100.00 $41,498,097 5,500 72,714 55.00 72,714 32,000 401,997 40.00 401,997 424,062 7,548,310 39.74 7,542,420 3,125 40,827 31.25 40,827 692,412 8,982,435 20.43 8,982,436 16,000 153,219 20.00 153,219 1,000 4,063 25.00 4,063 2,727 27,273 5.68 41,618 19,717 190,322 4.93 258,880 126,735 1,250,000 2.53 888,412 Linden Technologies, Inc. 50 15,372 2.53 15,372 70,000 700,000 1.08 296,100 42,231 490,801 8.45 487,778 2,853 7,344 0.04 79,213 200 1,550-1,348 125 2,868-2,740 70 2,769-2,784 22 290-184 301 11,376-9,625 1,069 17,962-12,391 351 10,930-10,634 2,000 24,657-16,240 50 2,705-3,346 151 6,583-7,031 300 4,045-3,402 50 2,588-3,067 100 2,378-2,299 2,050 63,796-42,818 110 5,288-4,714 600 7,856-6,696 120 3,440-3,156 250 11,091-10,288 509 7,480-5,383 150 4,131-3,207 450 13,304-13,752 20 7,006-9,608 200 4,664-4,052 275 5,315-4,879 300 4,191-3,720 100 4,311-4,048 100 5,651-5,039 350 11,192-8,225 227 14,202-11,935 1 41-42 588 10,000-12,165 3,000 30,030-31,740 3,000 30,000-30,000 1,413 15,000-15,886 2,000 20,000-22,200 2,840 30,000-30,333 4,335 50,125-52,758 4,938 50,000-51,392 3,900 40,000-45,579 3,000 30,000-32,910 / 144

941231 (%) / 2015 $50,100 - $50,200 20,000-21,339 30,000-31,064 50,040-51,050 ETF 50,000-52,275 20,000-19,997 99 100,000-99,553 30,000-31,563 GAMA 30,000-29,790 40,000-40,040 30,000-30,000 30,000-35,160 30,060-29,726 80,080-79,622 30,000-31,519 30,060-31,997 30,000-30,418 100,000-99,809 30,000-29,801 30,000-29,520 100,000-108,289 50,000-49,490 30,000-30,153 30,000-30,330 50,000-50,247 50,000-50,130 50,000-49,922 30,000-30,092 100,000-100,010 100,000-100,009 403,200-407,961 28,549 100,000-100,012 100,000-100,011 200,000-200,132 100,000-100,011 30,000-30,041 100,000-100,011 100,000-100,010 100,000-100,003 100,000-100,011 100,000-100,010 100,000-100,011 145

941231 (%) 9,146 $100,000 - $100,011 9,887 100,000-100,011 11,365 115,000-115,034 111 34,670-33,463 MFS Meridian Emerg MKTS DEBT FD 117 67,562-67,652 MFS Inflation Adjusted Bond Fund 248 80,468-82,338 MFS Global Balanced Fund 31 15,913-16,726 PERMAL FUND 1 8,601-9,455 Forsyth Alternative Income Fund Class R () 88 42,530-39,968 Forsyth Alternative Income Fund Class R () 85 31,580-27,332 Skandia Global Bond Fund Class B 41 15,792-15,841 ABN AMRO HONG KONG EQUITY GUARNTEED FUND 10 31,735-31,116 Alexandra Global Inv. (ASIA) B 39 16,953-17,102 Investec Global Energy Fund "C" Inc 4 33,755-32,345 ABN ASIA BOND FUND A 10 33,540-32,713 JULIUS BAER DIVERSIFIED FIXED INCOME HEDGE FUND 10 29,871-27,885-20,472-24,834 TUNTEX (THAILAND) PUBLIC COMPANY LIMITED 16 12,581-12,581 MERRILL LYNCH 1 3,948-3,406 80 6,639-6,800 500 50,000-48,885-80,000-80,000 / (Peony Investment Greencompass Marine S.A. 3,535 USD799,146 100.00 USD799,146 S.A.) Vigor Enterprise S.A. 80 USD4,575 100.00 USD4,575 Clove Holding LTD. 10 USD59,968 100.00 USD59,968 Evergreen Heavy Industrial Corp. (M) Berhad 42,120 USD36,371 84.44 USD36,371 PT. Multi Bina Pura International 68 USD9,518 95.30 USD9,518 PT. Multi Bina Transport 2 USD185 17.39 USD185 Armand Investment (Nertherlands) N.V. 4 USD1,700 70.00 USD1,700 - USD3,279 55.00 USD3,279 Hatsu Marine Limited 765 USD105,674 51.00 USD105,674 Luanta Investment (Netherlands) N.V. - USD17,788 50.00 USD17,788 Evergreen Container Terminal (Thailand) Ltd. 12,250 USD18,439 48.18 USD18,439 - USD8,143 21.06 USD8,143 - USD2,473 40.00 USD2,473 - USD5,261 40.00 USD5,261 Balsam Investment (Netherlands) N.V. - USD184,387 49.00 USD184,387 Evergreen Shipping (S) Pte. Ltd. 383 USD1,198 25.50 USD1,198 Evergreen Korea Corporation 61 USD2,720 50.00 USD2,720 Evergreen Star (Thailand) CO., Ltd. 204 USD734 25.50 USD734 PT. Evergreen Marine Indonesia - USD753 25.40 USD753 Evergreen India Pte Ltd. 5 USD29 49.99 USD29 Evergreen Marine Australia Pty Ltd. - USD245 25.50 USD245 Hutchison Inland Container Depost Limited 1 USD1,492 7.50 USD1,492 South Asia Gateway Terminals 6,211 USD2,412 5.00 USD2,412 Dongbu Pusan Container Terminal Co., Ltd. 300 USD1,556 15.00 USD1,556 146

941231 (%) PT. Multi Bina Pura International PT. Multi Bina Pura International 8 USD705 72.95 USD705 Clove Holding Ltd. Ample Holding LTD. 9 USD18,154 90.00 USD18,154 Classic Outlook Investment Ltd. Clove - USD102,359 2.25 USD102,359 Everup profits ltd. - - 2.25 - Island Equipment LLC - USD409 36.00 USD409 Ample Holding Ltd. Colon Container Terminal S.A. Ample 22,860 USD51,564 40.00 USD51,564 Island Equipment LLC Whiteny Equipment LLC Island - USD437 100.00 USD437 Hemlock Equipment LLC - USD506 100.00 USD506 Hatsu Marine Limited Island Equipment LLC - USD166 15.00 USD166 Armand Investment Armand Estate (Netherlands) B.V. 40 (USD280) 100.00 (USD280) (Netherlands) N.V. Armand Estate (Nertherlands) Taipei Port Container Terminal Armand Estate B.V. 80,000 USD2,332 10.00 USD2,332 B.V. Greencompass Marines S.A. UG 103 USD1,030 - USD1,039 Portus Banc Notes Series X 98 USD1,000 - USD1,000 ABN 1 USD1,000 - USD1,114 UBS Forward Arbitrage Strategy Fast Notes 50 USD5,000 - USD4,703 / 147

() 94111231 / 9966 5,000 $50,000 5,007 $50,000 10,007 $100,918 $100,000 $918 - $- ETF - - 9,762 100,000 4,881 51,592 50,000 1,592 4,881 50,000 99 - - 10,000 100,000 - - - - 10,000 100,000 - - 10,000 100,000 10,000 102,300 100,000 2,300 - - - - 10,000 100,000 - - - - 10,000 100,000 - - 10,000 100,000 10,000 105,350 100,000 5,350 - - - - 19,939 200,000 19,939 201,558 200,000 1,558 - - - - 19,826 200,000 19,826 200,684 200,000 684 - - - - 10,000 100,000 - - - - 10,000 100,000 - - 9,952 100,000 9,952 100,420 100,000 420 - - 30,023 380,000 2,751 35,000 32,774 416,968 415,000 1,968 - - 10,323 130,000 15,731 200,000 18,231 231,499 230,000 1,499 7,823 100,000 90,388 1,008,000 34,773 390,000 125,161 1,409,588 1,398,000 11,588 - - 36,045 375,000 44,898 470,000 71,468 748,523 745,000 3,523 9,475 100,000 - - 21,134 343,000 21,134 343,130 343,000 130 - - 20,993 298,000 32,453 463,000 53,446 763,187 761,000 2,187 - - 45,133 598,200 30,332 405,000 45,173 604,218 600,000 4,218 30,292 403,200 10,054 115,000 - - 10,054 116,510 115,000 1,510 - - - - 11,313 130,000 2,617 30,053 30,000 53 8,696 100,000 31,412 345,000 28,581 315,000 59,993 662,971 660,000 2,971 - - 36,323 531,000 25,759 380,000 62,082 917,549 911,000 6,549 - - 11,466 122,000 35,620 385,000 47,086 511,593 507,000 4,593 - - 3,380 50,000 21,707 325,000 18,443 276,097 275,000 1,097 6,644 100,000 10,956 150,000 - - 10,956 150,078 150,000 78 - - 21,696 268,000 - - 21,696 272,853 268,000 4,853 - - 72,376 730,000 19,450 200,000 72,376 741,198 730,000 11,198 19,450 200,000 45,266 621,000 36,090 500,000 74,200 1,029,181 1,021,000 8,181 7,156 100,000 18,490 280,000 - - 18,490 280,550 280,000 550 - - 472 75,000 1,727 278,000 2,199 355,688 353,000 2,688 - - 17,905 245,000 25,479 350,000 43,384 598,705 595,000 3,705 - - 13,410 150,000 21,179 240,000 25,803 291,943 290,000 1,943 8,786 100,000 25,628 272,000 9,768 104,000 35,396 378,968 376,000 2,968 - - - - 6,741 100,000 6,741 100,099 100,000 99 - - 36,153 535,000 53,105 790,000 89,258 1,331,073 1,325,000 6,073 - - 1699 49,803 600,000 23,142 280,000 72,945 886,853 880,000 6,853 - - 5599 13,272 143,000 19,655 215,000 32,927 362,111 358,000 4,111 - - 20,002 273,000 21,657 298,043 34,437 472,409 471,043 1,366 7,222 100,000 - - 14,223 210,000 14,223 210,627 210,000 627 - - 9,081 100,000 - - 9,081 100,204 100,000 204 - - 9,432 100,000 - - 9,432 100,596 100,000 596 - - 46,504 500,000 - - 46,504 501,618 500,000 1,618 - - 33,514 350,000 16,609 175,000 50,123 526,998 525,000 1,998 - - 6,707 93,000 6,958 100,000 6,707 96,257 93,000 3,257 6,958 100,000 31,514 373,000 4,600 55,000 36,114 432,593 428,000 4,593 - - 7,628 87,000 8,481 98,000 16,109 186,978 185,000 1,978 - - 60,471 749,000 15,635 195,000 76,107 950,853 944,000 6,853 - - 8,271 106,500 7,604 100,000 8,271 108,045 106,500 1,545 7,604 100,000 11,207 122,500 - - 11,207 123,845 122,500 1,345 - - 4,493 50,000 14,743 165,000 19,236 215,919 215,000 919 - - 26,910 318,000 32,756 390,000 51,336 612,222 608,000 4,222 8,330 100,000 13,099 211,000 17,248 280,000 30,347 493,952 491,000 2,952 - - 42,544 608,000 16,343 235,000 58,887 847,497 843,000 4,497 - - 13,049 148,000 263 3,000 13,312 152,786 151,000 1,786 - - 21,318 300,000 21,926 310,000 43,244 613,044 610,000 3,044 - - 25,412 271,000 13,453 145,000 38,865 419,610 416,000 3,610 - - - - 26,396 300,000 17,646 201,391 200,000 1,391 8,751 100,000 42,275 535,000 4,453 57,000 46,728 601,588 592,000 9,588 - - 33,871 400,000 26,140 310,000 60,011 713,447 710,000 3,447 - - 29,442 315,000 - - 29,442 317,599 315,000 2,599 - - 13,604 200,000 13,594 200,000 27,198 400,688 400,000 688 - - 43,872 472,000 47,887 520,000 82,612 897,668 892,000 5,668 9,146 100,000 - - 21,310 215,000 11,423 115,118 115,000 118 9,887 100,000 20,000 200,000 24,753 250,000 33,388 335,253 335,000 253 11,365 115,000.. 148

() 94111231 () () () () (%) (%) $1,403,285 3.89 30~60 $- - $(4,828) 0.17 / 101,742 0.24 30~60 24,731 0.99 497,692 1.41 30~60 - - (17,660) 0.64 626,034 1.78 30~60 - - (36,486) 1.32 Hatsu Marine Limited 734,806 2.09 30~60 - - (167,176) 6.05 284,850 0.68 30~60 - - - - Greencompass Marine S.A. 1,045,103 2.97 30~60 - - (7,413) 0.27 115,163 0.28 30~60 - - - - Gaining Enterprise S.A. 1,954,468 5.56 30~60 - - - - Evergreen International S.A. 117,826 0.33 30~60 - - (15,028) 0.54 Lloyd Triestino Di Navigazione 640,013 1.52 30~60 - - - - S.P.A. 624,075 99.88 30~60 - - 56,779 99.25 Hatsu Marine Limited GBP 13,712 3.11 30~60 - - GBP 3,029 10.33 GBP 588 0.15 30~60 - GBP - - Greencompass Marine S.A. USD 32,214 1.43 30~60 - - USD - - USD 3,561 0.18 30~60 - - USD - - 149

() 94111231 () NTD 83,602 - NTD - - NTD 82,812 NTD - NTD 17,521 - NTD - - NTD 17,354 NTD - Hatsu Marine Island Equipment USD6,035 - USD - - USD2,458 USD - Limited LLC. Clove Holding Island Equipment USD14,085 - USD - - USD5,500 USD - Ltd. LLC. 150

94111231 (%) () () 53Rd Street, Urbanizacion Obarrio USD 476,500 USD 476,500 4,765 100.00 $41,434,463 $6,878,598 $6,879,847 Torre Swiss Bank, 2nd Floor, Panama / 1772 55,000 55,000 5,500 55.00 72,714 (1,037) (1,368) () 3692 320,000 320,000 32,000 40.00 401,997 69,714 27,886 () 899 4,753,514 4,753,514 424,062 39.74 7,548,310 1,334,218 517,375 () 11145 25,000 25,000 3,125 31.25 40,827 24,066 6,895 () 137611 8,569,973 8,569,973 692,412 20.43 8,982,435 1,326,060 259,284 () 2206 160,000 160,000 16,000 20.00 153,219 (8,881) (1,776) () 18533 10,000 10,000 1,000 25.00 4,063 (18,984) (4,746) () 151

94111231 (%) Greencompass Marine S. A. 53rd Street, Urbanizacion USD 353,500 USD 353,500 3,535 100.00 USD 799,145 USD 139,444 USD 139,444 Obarrio Torre Swiss Bank, 2nd Floor, Panama, Republic of Panama / Vigor Enterprise S. A. 53rd Street, Urbanizacion USD 8,000 USD 8,000 80 100.00 USD 4,575 (USD 724) (USD 724) Obarrio Torre Swiss Bank, 2nd Floor, Panama, Republic of Panama Clove Holding Ltd. Craigmuir Chambers, P. O. Box71, Road Town, USD 10 USD 10 10 100.00 USD 59,968 USD 7,827 USD 7,827 Tortola, B. V. I. Hatsu Marine Limited 160 Euston Road, London NW 12 DX, U.K. USD 1,503 USD 1,503 765 51.00 USD 105,674 USD 10,532 USD 7,627 Evergreen Heavy Industrial Co. Lot 139, Jalan, Cecair, Phase 2 Free Trade Zone USD 27,295 USD 27,295 42,120 84.44 USD 36,371 USD 5,027 USD 4,792 (Malaysia) Berhad Johor Port Authority, B1700 Pasir Gudang, Johor, Johore Bahru, Malaysia PT. Multi Bina Pura International JL Raya Cakung Cilincing, RT, 002-05, Desa USD 20,204 USD 20,204 68 95.30 USD 9,518 USD 675 USD 644 Rorotan P.O. Box 6043 Jakarta 14260. Indonesla Lot 139, Jalan PT. Multi Bina Transport JL Raya Cakung Cilincing, RT, 002-05, Desa Rp 1,800,000 Rp 1,800,000 2 17.39 USD 185 USD 320 USD 56 Rorotan P.O. Box 6043 Jakarta 14260. Indonesla Lot 139, Jalan PT. Evergreen Marine Indonesia Gedung Price waterhouse coopers 9-10th USD 258 USD 258-25.44 USD 753 USD 1,237 USD 315 Floors Jl. H.R. Rasuna said kav. C-03 Jakarta 12920, Indonesia Luanta Investment (NetherLands) N.V. 21-A Van Engelenweg, Curacao, Netherlands, USD 21,973 USD 15,785-50.00 USD 17,788 (USD 4,157) (USD 2,079) Antilles Balsam Investment (NetherLands) N.V. 21-A Van Englenweg, Curacao, Netherlands, USD 50,715 USD 50,715-49.00 USD 184,387 USD 93,213 USD 45,674 Antilles 4049C12 () USD 6,635 USD 6,635-21.06 USD 8,143 USD 1,957 USD 385 USD 3,134 USD 3,134-55.00 USD 3,279 USD 133 USD 69 138 () USD 4,447 USD 4,447-40.00 USD 5,261 USD 1,256 USD 462 3403 () USD 1,199 USD 1,199-40.00 USD 2,473 USD 2,004 USD 802 152

94111231 (%) / Evergreen Container Terminal 33/4 Moo 1, Chaokhun Tahan Road, USD 28,636 USD 28,636 12,250 48.18 USD 18,439 USD 5,305 USD 2,556 (Thailand) Ltd. Sun District Klong 3, Lat Krabang District, Bangkok 10520 Evergreen Shipping (S) Pte. Ltd. 333 Jalan Besar, Singapore 209018 USD 219 USD 219 383 25.50 USD 1,198 USD 1,422 USD 363 Evergreen Star (Thailand) Co. Ltd. Green Tower, 24-25th Floors USD 238 USD 238 204 25.50 USD 734 USD 3,421 USD 872 3656/81 Rama IV Road Klongton Klongtoey Bangkok 10110 Evergreen Korea Corporation 15th Fl., Korea Express Center, 83-5, 4-Ka, USD 238 USD 238 61 50.00 USD 2,720 USD 1,780 USD 890 Jung-Ang Dong Jung-Ku, Pusan, Republic of Korea Armand Investment (Netherlands) N.V. VAN ENGELENWEG 21A CURACAO USD 1,750 USD 1,622 4 70.00 USD 1,700 (USD 114) (USD 80) Netherlands Antilles Evergreen India Pte. Ltd. J.N. HEREDIA MARG BALLARD ESTATE USD 12 USD 12 5 49.98 USD 29 USD 25 USD 13 MUMBAI 400 038, INDIA Evergreen Marine Australia Pty. Ltd. Level 13,181 Miller Street, North Sydney USD- USD- - 25.50 USD 245 USD 768 USD 196 NSW 2060 Australia 153

Greencompass Marine S. A. 941231 1. (1) 94.12.31 93.12.31 () () (IRS) USD 108,176 USD 598 USD - USD - (Foreign Exchange Option) EUR 3,000 USD - USD - USD - (2) (IRS) (Foreign Exchange Option) 154

(3) (IRS)(Foreign Exchange Option) (4) (5) 1) (IRS) 2) (Foreign Exchange Option) 2. 94.12.31 93.12.31 (IRS) USD - USD 126 USD - USD - USD 166 USD 166 USD - USD - 155

94111231 (1) (%) (2) 1. RMB271,565 () $196,275 $- $- $196,275 21.06 $12,360 $266,378 $- (Shanghai Jifa Logistics Co., Ltd. ) () (USD 6,000) (USD 6,000) (USD 385) (USD 8,143) 2. 1. RMB24,119 () 33,301 - - 33,301 40.00 $25,747 80,898 - (Ningbo Victory Container Co., Ltd. ) () (USD 1,018) (USD 1,018) (USD 802) (USD 2,473) 2. 1. RMB92,500 () 145,472 - - 145,472 40.00 $14,832 172,100 - (Qingdao Evergreen Container () (USD 4,447) (USD 4,447) (USD 462) (USD 5,261) Storage & Transportation Co., Ltd. ) 2. 1. RMB44,960 () 102,521 - - 102,521 55.00 $2,215 107,264 - (Shenzhen Greentrans (USD 3,134) (USD 3,134) (USD 69) (USD 3,279) Transportation Co., Ltd. ) 2. HKD92,000 () 26,598 - - 26,598 6.85-26,598 - (Shenzhen Hutchison Inland Container (HKD 6,304) (HKD 6,304) (HKD 6,304) Depots Co., Ltd. ) (3) $504,156 $1,095,368 (USD 14,599) (USD 33,485) (HKD 6,304) $2,000,000 1,500,000 9,811,453 1 () () () () () 2 () () 1. 2. 3. 3 ($59,057,266) $13,311,453 156

1. 941231 $87,054 EUR 1 : NT 38.8412 $42 GBP 1 : NT 56.4798 HKD 1 : NT 4.2192 TWD 3,032 SGD 1 : NT 19.6631 USD 210 7,056 PLN 1 : NT 10.0632 INR 1 : NT 0.7253 USD 2,356 78,534 SGD 1 : NT 19.6631 EUR - 6 JPY 1 : NT 0.2790 JPY 63 19 KRW 1 : NT 0.0324 (1,635) USD 1 : NT 32.7125 46,323 8,379 1,028,205 EUR 159 $5,912 GBP 113 6,574 HKD 2,718 12,521 INR 110,259 80,549 PLN 317 3,258 JPY 3,002,313 875,838 KRW 699 21 USD 2,546 87,155 (43,623) 47,825 3,483,454 USD 103,020 $3,431,916 EUR 2,050 81,296 HKD 6,000 25,635 GBP 150 8,804 (64,197) $4,701,240 157

2.1 941231 / () (%) () 200 $10 $2,000 - $1,550 $6.74 $1,348 125 10 1,250-2,868 21.92 2,740 70 10 700-2,769 39.77 2,784 22 10 215-290 8.58 184 301 10 3,008-11,376 32.00 9,625 1,069 10 10,691-17,962 11.59 12,391 351 10 3,510-10,930 30.30 10,634 2,000 10 20,000-24,657 8.12 16,240 50 10 500-2,705 66.93 3,346 151 10 1,509-6,583 46.58 7,031 300 10 3,000-4,045 11.34 3,402 50 10 500-2,588 61.34 3,067 100 10 1,000-2,378 22.99 2,299 2,050 10 20,497-63,796 20.89 42,818 110 10 1,100-5,288 42.85 4,714 600 10 6,000-7,856 11.16 6,696 120 10 1,199-3,440 26.31 3,156 250 10 2,503-11,091 41.11 10,288 509 10 5,088-7,480 10.58 5,383 150 10 1,500-4,131 21.38 3,207 450 10 4,500-13,304 30.56 13,752 20 10 200-7,006 480.39 9,608 300 10 3,000-4,191 12.40 3,720 100 10 1,000-4,311 40.48 4,048 200 10 2,000-4,664 20.26 4,052 275 10 2,750-5,315 17.74 4,879 100 10 1,000-5,651 50.39 5,039 350 10 3,500-11,192 23.50 8,225 227 10 2,269-14,202 52.60 11,935 1 10 10-41 42.26 42 263,660 $216,653 (47,007) $216,653 158

2.2 941231 (%) / () 588 $- $- - $10,000 $20.68 $12,165 3,000 - - - 30,030 10.58 31,740 3,000 - - - 30,000 10.00 30,000 1,413 - - - 15,000 11.24 15,886 2,000 - - - 20,000 11.10 22,200 2,840 - - - 30,000 10.68 30,333 4,335 - - - 50,125 12.17 52,758 3,900 - - - 40,000 11.69 45,579 3,000 - - - 30,000 10.97 32,910 2015 5,000 - - - 50,100 10.04 50,200 1,969 - - - 20,000 10.84 21,339 5,000 - - - 50,040 10.21 51,050 ETF 4,881 - - - 50,000 10.71 52,275 2,000 - - - 20,000 10.00 19,997 99 10,000 - - - 100,000 9.96 99,553 3,006 - - - 30,000 10.50 31,563 GAMA 3,000 - - - 30,000 9.93 29,790 4,000 - - - 40,000 10.01 40,040 3,000 - - - 30,000 10.00 30,000 3,000 - - - 30,000 11.72 35,160 1,954 - - - 30,060 15.21 29,726 7,412 - - - 80,080 10.74 79,622 2,902 - - - 30,000 10.86 31,519 2,465 - - - 30,060 12.98 31,997 10,000 - - - 100,000 9.98 99,809 3,000 - - - 30,000 9.93 29,801 3,000 - - - 30,000 9.84 29,520 10,000 - - - 100,000 10.83 108,289 5,000 - - - 50,000 9.90 49,490 3,000 - - - 30,000 10.05 30,153 3,000 - - - 30,000 10.11 30,330 159

2.3 941231 (%) / () 5,000 - - - $50,000 10.05 $50,247 5,000 - - - 50,000 10.03 50,130 5,000 - - - 50,000 9.98 49,922 3,000 - - - 30,000 10.03 30,092 7,823 - - - 100,000 12.78 100,010 9,475 - - - 100,000 10.55 100,009 30,292 - - - 403,200 13.47 407,961 1 8,696 - - - 100,000 11.50 100,012 6,644 - - - 100,000 15.05 100,011 19,450 - - - 200,000 10.29 200,132 7,156 - - - 100,000 13.98 100,011 2,083 - - - 30,000 14.42 30,041 8,786 - - - 100,000 11.38 100,011 7,222 - - - 100,000 13.85 100,010 6,958 - - - 100,000 14.37 100,003 7,604 - - - 100,000 13.15 100,011 8,330 - - - 100,000 12.01 100,010 8,751 - - - 100,000 11.43 100,011 9,146 - - - 100,000 10.93 100,011 9,887 - - - 100,000 10.12 100,011 11,365 - - - 115,000 10.12 115,034 4,938 - - - 50,000 10.41 51,392 2,654 - - - 30,000 11.46 30,418 3,000 - - - 30,000 10.35 31,064 111 - - - 34,670 300.30 33,463 MFS Meridian Emerg MKTS 117 - - - 67,562 576.39 67,652 DEBT FD MFS Inflation Adjusted Bond 248 - - - 80,468 332.36 82,338 Fund MFS Global Balanced Fund 31 - - - 15,913 547.93 16,726 PERMAL FUND 1 - - - 8,601 104,417.32 9,455 128,549 160

2.4 941231 / (%) () Forsyth Alternative Income Fund 88 - - - $42,530 $455.22 $39,968 Class R () Forsyth Alternative Income Fund 85 - - - 31,580 320.88 27,332 Class R () Skandia Global Bond Fund Class B 41 - - - 15,792 388.94 15,841 ABN AMRO HONG KONG 10 - - - 31,735 3,111.61 31,116 EQUITY GUARNTEED FUND Alexandra Global Inv. (Asia) B 39 - - - 16,953 435.08 17,102 Investec Global Energy Fund "C" Inc 4 - - - 33,755 7,890.58 32,345 ABN ASIA BOND FUND A 10 - - - 33,540 3,168.53 32,713 JULIUS BAER DIVERSIFIED 10 - - - 29,871 2,915.30 27,885 FIXED INCOME HEDGE FUND 4,026,665 4,065,294 : - 4,026,665 - KRW 750,000 KRW 750,000 8.00 $20,472 - $24,834 MERRILL LYNCH 1 EUR 100 EUR 100 - $3,948 - $3,406 80 100 8,000-6,639 6,800 500 100 50,000-50,000-48,885 60,587 59,091 : (1,496) $59,091-80,000 80,000 1.40 80,000 80,000 $4,402,881 161

3. 941231 $2,399,846 1) PUHE $66,316 STMD 64,301 TAHE 56,155 GOVN 46,157 GARD 44,919 GODN 42,509 2) GRTH 42,478 5% GUID 42,243 GRDN 41,467 PRMR 41,431 PRMA 41,170 1,907,910 (35,633) (1,577) 108,333 $83,602 24,731 $2,508,179 162

4. 941231 $248,098 $1,571 40,700 70,827 135,000 32,611 $12,389 17,521 CCT 1,658 1,043 $280,709 163

5. 941231 $30,000 $29,848 BNPP 5 Years Non-Call 3mth CMS Spread Range Accrual Notes USD1,000 31,857 31,361 10 USD1,000 33,690 31,918 USD2,000 67,380 65,425 ABN AMRO Platinum Series 6.5 Years Capital Protected Note (III) USD 900 30,942 30,576 ABN AMRO Five Stars Capital Protected Bonus Notes USD 500 17,033 16,166 Forsyth Ten Year Profit Protector Note USD1,000 33,747 32,666 Lehman Brothers Series 2462 USD-denominated Auto-Callable USD1,000 32,335 30,635 Capital Protected Notes CLN 50,000 50,454 Global Emerging Markets Bond Capital Protected Note III USD1,000 32,160 34,090 ABN AMRO FX Notes (series 8) USD1,000 32,800 34,885 USD2,000 66,940 64,758 CLN USD2,000 64,090 65,425 CLN USD1,000 32,350 32,712 LBHI Principal Protected Investment Grade Synthetic CDO USD2,000 64,430 62,284 619,754 $613,203 (6,551) $613,203 164

6. 941231 GIFT ( USD 841 ) $27,706 GNTL ( USD 628 ) 20,556 GNUS ( USD 564 ) 18,442 GODN ( USD 427 ) 13,969 GOVN ( USD 505 ) 16,507 GRDN ( USD 609 ) 19,909 GRTH ( USD 1,027 ) 33,583 GTRY ( USD 521 ) 17,037 478,195 $645,904 165

7. 941231 $176,693 $47,049 8,552 121,092 865 $177,558 166

8. 941231 $2,629,171 EGSUZ $170,021 EIS 437,558 LT-EIS 849,464 GMS 312,380 INBOM 59,128 EGJ 64,258 EGP 86,768 GFBDR 75,849 GLK 110,983 496,251 5% (33,489) 25,705 EIS $6,758 GMS 11,326 GESA 4,557 HML 3,064 32,999 $2,687,875 167

9. 941231 / (%) () 4,765 $34,672,963 - $6,761,500 - $- 4,765 100.00 $41,434,463 $- $41,498,097 5,500 85,082 - - - 12,368 5,500 55.00 72,714-72,714 32,000 374,111-27,886 - - 32,000 40.00 401,997-401,997 424,062 7,224,023-621,131-296,844 424,062 39.74 7,548,310-7,542,420 3,000 33,932 125 6,895 - - 3,125 31.25 40,827-40,827 685,687 9,035,433 6,725 283,263-336,261 692,412 20.43 8,982,435-8,982,436 16,000 154,995 - - - 1,776 16,000 20.00 153,219-153,219 1,000 8,809 - - - 4,746 1,000 25.00 4,063-4,063 5,000 50,000 - - 2,273 22,727 2,727 5.68 27,273-41,618 19,717 190,322 - - - - 19,717 4.93 190,322-258,880 126,735 1,250,000 - - - - 126,735 2.53 1,250,000-888,412 Linden Technologies Inc. 50 15,372 - - - - 50 2.53 15,372-15,372 USD500 70,000 700,000 - - - - 70,000 1.08 700,000-296,100 25 1,300 2 - - 1,300 27 0.14 - - - 36,647 426,581 5,584 64,220 - - 42,231 8.45 490,801 11.55 487,778 2,853 7,344 - - - - 2,853 0.04 7,344 27.76 79,213 54,230,267 7,764,895 676,022 61,319,140 Tuntex (Thailand) Public Company Limited - - 16 12,581 - - 16-12,581-312 - - - - - - 312-34,175 - - - 34,175 - - - Banca Del Gottardo - 68,410 - - - 68,410 - - - Banca Del GottardoMoney - 42,156-1,512-43,668 - - - Market Fund (9,411) - (9,411) - 135,330 1,512 136,842 - $54,365,909 $7,778,988 $812,864 $61,332,033 168

10.1 941231 $1,998,859 $- $- $1,998,859 1,356,403 155,555-1,511,958 3,079,785 537,185-3,616,970 175,468 22,118 80,735 116,851 17,102,718 33,598 439,064 16,697,252 9,877,935 - - 9,877,935 738,990 72,508 186,275 625,223 203,638 29,422 22,133 210,927 34,533,796 850,386 728,207 34,655,975 28,239 1,033,482 701,919 359,802 $34,562,035 $1,883,868 $1,430,126 $35,015,777 169

10.2 941231 $324,175 $27,328 $- $351,503 2,250,658 366,677-2,617,335 102,477 27,868 72,067 58,278 13,514,725 835,782 433,268 13,917,239 9,416,178 230,879-9,647,057 142,367 18,518 18,840 142,045 $25,750,580 $1,507,052 $524,175 $26,733,457 # 170

10.3 941231 $1,253,291 $- $- $1,253,291 1,252,869 - - 1,252,869 1,251,213 - - 1,251,213 1,246,876 - - 1,246,876 1,250,407 - - 1,250,407 1,204,447 - - 1,204,447 1,206,887 - - 1,206,887 1,211,945 - - 1,211,945 9,877,935 - - 9,877,935 1,208,495 22,398-1,230,893 1,208,087 22,391-1,230,478 1,204,006 23,604-1,227,610 1,197,314 24,781-1,222,095 1,195,731 27,338-1,223,069 1,142,274 31,086-1,173,360 1,135,005 35,941-1,170,946 1,125,266 43,340-1,168,606 9,416,178 $230,879 $- 9,647,057 $461,757 $230,878 171

11. 941231 $169,208 $34,678 JPY128,197 125,400 USD 4,000 2,588 6,542 113,702 $26,329 25,817 40,675 11,418 3,250 6,213 351,221 Faith One Shipping S.A. $74,979 USD 2,143 Peloponesian Pride Shipping S.A. 74,529 USD 2,143 Agios Dimitrios Shipping S.A. 148,411 USD 4,308 Panagia Tinou Shipping S.A. 148,410 USD 4,308 (24,281) (70,827) $634,131 172

12. 941231 (%) $500,000 94.12.22-1.46 $500,000 95.01.23 100,000 94.12.27-1.48 100,000 95.01.10 300,000 94.12.27-1.53 1,000,000 95.01.23 200,000 94.12.23-1.53 300,000 95.01.23 200,000 94.12.27-1.53 400,000 95.01.10 300,000 94.12.20-1.47 300,000 95.01.20 200,000 94.12.29-1.50 200,000 95.01.10 $1,800,000 $2,800,000 173

13. 941231 (%) () 94.12.27-95.01.10 1.18 $200,000 $58 $199,942 () 94.12.27-95.01.10 1.19 200,000 59 199,941 () 94.12.23-95.01.10 1.35 200,000 67 199,933 () 94.12.27-95.01.10 1.24 200,000 61 199,939 $800,000 $245 $799,755 174

14. 941231 $2,929 563 557 1,126 5% $5,175 175

15. 941231 $2,086,067 Hamburg Suedamerkanische Dempfschi USD 1,030 $34,586 Petrobras Bunkering USD 1,503 50,644 Fuel and Marine Marketing LLC USD 3,485 117,560 TRANS-TEC ASIA USD 2,501 84,357 Grandeur Trading & Services Pte Ltd. USD 3,051 102,903 CHEMOIL CORPORATION USD 2,250 75,888 USD 1,404 47,389 1,598,879 5% (26,139) 679,187 $4,828 17,660 3,635 36,486 LT USD13,003 422,326 EIS USD 459 15,451 HML USD 5,110 171,993 GMS USD 227 7,610 1,589 5% (2,391) $2,765,254 176

16. 941231 $189,976 $63,113 21,439 16,763 88,661 2,544,448 $192,733 1,593,306 113,000 263,927 121,468 133,262 150,854 (24,102) $2,734,424 177

17. 941231 $142,586 $3,712 40,267 20,270 78,337 EIS 2,590 $145,176 178

18. 941231 $342,212 ORT $87,301 EGI 50,587 EMG 28,159 183,248 5% (7,083) 39,137 Option 33,175 $414,524 179

19. 941231 (%) () () 90.12.13~90.12.19 12.13~12.19 2.600 $1,000,000 $- $1,000,000 $- $1,000,000 90.12.13~90.12.14 12.13~12.14 2.600 500,000-500,000-500,000 91.05.14 05.14 3.400 300,000-300,000-300,000 91.05.15 05.15 3.400 300,000-300,000-300,000 91.05.16 05.16 3.400 200,000-200,000-200,000 91.05.17 05.17 3.400 200,000-200,000-200,000 91.06.13 06.13 3.900 300,000-300,000-300,000 91.06.14 06.14 3.900 300,000-300,000-300,000 91.06.17 06.17 3.900 300,000-300,000-300,000 91.06.18 06.18 3.900 200,000-200,000-200,000 91.06.19 06.19 3.900 200,000-200,000-200,000 91.06.20 06.20 3.900 200,000-200,000-200,000 92.06.02 06.02 1.470 300,000-300,000-300,000 92.06.03 06.03 1.470 300,000-300,000-300,000 92.06.05 06.05 1.470 200,000-200,000-200,000 92.06.06 06.06 1.470 200,000-200,000-200,000 92.06.03 06.03 1.570 300,000-300,000-300,000 92.06.05 06.05 1.570 200,000-200,000-200,000 93.01.12 - - 4,000,000 2,365,600 1,634,400-1,634,400 93.09.06 - - 4,500,000 2,635,700 1,864,300-1,864,300 $14,000,000 $5,001,300 $8,998,700 $- 8,998,700 6,339 (1,500,000) 94. 12.13~95.12.19 $7,505,039 180

20. 941231 (%) $500,000 94.10.27-95.01.25 1.550 396,000 91.12.17-96.08.06 2.495 2,200 375,000 91.05.27-96.05.27 2.495 160,000 91.08.27-96.08.27 2.273 150,000 92.02.27-98.02.27 2.460 500,000 92.09.29-97.06.06 2.180 1,500,000 92.06.27-97.06.27 2.088 180,000 92.11.11-96.11.11 2.376 3,761,000 (2,798,000) $963,000 181

21. 941231 $406,951 125 2,272,102 324,289 $3,003,467 182

22. 94 $41,346,450 $39,415,004 1,931,446 46,399 227,083 355,604 $41,975,536 183

23. 94 $30,976,875 $371,669 3,744,475 1,301,611 9,746,482 1,315,318 159,923 22,646 1,835,961 173,023 5,878,953 5,903,871 468,013 54,930 1,509,945 $99,303 227,321 77,987 183,287 230,879 524,414 19,527 1,630 29,628 82,126 14,649 19,194 $32,486,820 184

24. 94 $1,018,211 40,835 1,881 80,312 13,461 14,393 13,996 11,673 58,203 29,768 24,573 14,954 8,565 892,601 61,386 10,954 12,359 112,080 6,317 41,982 126,523 100,340 $2,695,367 185

25. 94 $134,141 $111,445 22,696 7,683,397 93,222 120,395 200,281 42,262 59,240 144,483 $66,634 77,849 8,477,421 465,553 28,343 $27,043 1,300 11,019 77,895 22,170 $15,162 7,008 604,980 $7,872,441 186

(88)()01970 () 941230 (EVER GIFTED) 941230 G 9412309512 187

% % () 100.00 100.00 100.00 100.00 4.32 100.00-100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 63.75 94.89 73.35 77.82 49.84 100.00 100.00 100.00 100.00 100.00 188

Greencompass Marine S.A. USD20,000 USD - 20% 94 93 ()% (%) 22.60 18.66 21.11 () - - - () 14.13 13.15 7.45 1. 2. 3. 20% 189

50%10,000 5%(1,353,762) 1. () 94.12.31 93.12.31 % $169,208 $42,408 $126,800 299.00 2. () 94 93 % $134,141 $62,721 $71,420 113.87 93,222 52,007 41,215 79.25 109,376 68,232 41,144 60.30 () 200,281 (4,867) 205,148 421.51 () 42,262 (32,579) 74,841 229.72 () 27,043 (3,619) 30,662 847.25 144,483 88,391 56,092 63.46 22,170 47,278 (25,108) (53.11) 190

(1) (2) (3) (4) (5) (6) (7) (8) 191

(88)()112701 192

() () 1. 2. () 90 91 92 93 1. ()32,000320,000 2. ()15,249162,720 1. ()27,876343,597 2. ()44,118463,244 3. 9303,253,596 1. 1,0003,414,123 2. ()16,000160,000 Evergreen Container Terminal (Thailand) 8,250 18,482 94 3. 193

4. () 90 91 92 93 94 1. Colon Container Terminal S.A.,20,000 28,185 2. 30,100 851,761 46,160931,207 3. 37() 925,941350,199 1. 40,800 858,732 2. 2,286,723Evergeen Heavy Industrial Co., (Malaysia) Sdn. Bhd.399,452 Vigor Enterprise S.A.247,957 1. 32,756 2. 1,400,978Evergeen Heavy Industrial Co., (Malaysia) Sdn. Bhd.513,860 Vigor Enterprise S.A.429,597 1. 709,043Evergeen Heavy Industrial Co., (Malaysia) Sdn. Bhd.563,706 Vigor Enterprise S.A.143,356 2. Greencompass Marine S.A. 20,196 1. 37,109 2. MITSUBISHI HEAVY INDUSTRIES, LTD. USD 5,190 3. MITSUI ENGINEERING & SHIPBUILDING CO., LTD. USD 10,740 5. 194

() () 15,000 4,000 10,000 4,000 7,000 3,500 300 7,455 7,176 4,956 3,893 1,883 94.7.1 1,788 94.6.30 3,789 3,754 94.1.1 3,796 3,351 3,757 3,936 4,047 3,750 195

() 1. (1) 1 2 3 / (2) 1 55 2 9249.6% 3 9471 6% 6% (3) 2. 196

() 94 93() 30.82 29.45 25.82 22.00 34.91 29.42 30.62 33.18 25.00 25.27 17.91 17.41 25.05 18.61 20.15 25.82 () 1. 10% 1%5% 0%50%100% 50% 20% 100%50%0%50% 2. / 94 (93) 93 (92) 2.00 0.60 1.00 0.60 - - - - 197

() 1. 941231 (%) 1 ~ 999 50,363 13,974,661 0.5161 1,000 ~ 5,000 43,369 96,870,702 3.5778 5,001 ~ 10,000 13,198 85,012,479 3.1399 10,001 ~ 15,000 7,242 83,887,694 3.0983 15,001 ~ 20,000 2,113 35,467,985 1.3100 20,001 ~ 30,000 2,774 64,969,787 2.3996 30,001 ~ 40,000 1,235 41,949,378 1.5494 40,001 ~ 50,000 553 24,714,506 0.9128 50,001 ~ 100,000 1,247 83,217,407 3.0736 100,001 ~ 200,000 571 75,029,918 2.7712 200,001 ~ 400,000 251 67,345,524 2.4873 400,001 ~ 600,000 70 34,415,556 1.2711 600,001 ~ 800,000 38 26,237,007 0.9691 800,001 ~ 1,000,000 15 13,360,253 0.4934 1,000,000 127 1,961,071,741 72.4304 123,166 2,707,524,598 100.0000 2. 198

() () () 113,705,820 4.687% 11,370,582 125,076,402 4.620% 161,032,738 6.638% 16,103,273 177,136,011 6.542% 344,787 0.014% 34,478 379,265 0.014% 285,346,136 11.762% 260,549,237 28,534,613 313,880,749 11.593% 260,549,237 27,620 0.001% 2,762 30,382 0.001% 285,346,136 11.762% 260,549,237 28,534,613 313,880,749 11.593% 260,549,237 285,346,136 11.762% 260,549,237 28,534,613 313,880,749 11.593% 260,549,237 27,620 0.001% 2,762 30,382 0.001% () () 199

() 1. 94 93 92 91 90 16,177,619 28,747,380 17,458,662 19,386,138 14,085,040 8,282,320 8,811,455 10,752,285 12,804,245 13,722,007 ( ) 62,090,656 55,172,422 49,548,360 38,805,567 32,943,686 14,353,095 17,319,942 19,006,239 17,986,692 10,918,670 () 22,366,514 20,366,466 18,447,648 11,571,713 8,468,039 20,692,832 17,613,204 14,879,608 14,879,608 27,075,246 24,259,425 21,468,777 21,047,821 20,434,778 4,640,403 4,030,933 1,577,479 1,824,709 1,824,709 28,367,360 23,651,407 14,215,092 11,492,229 11,550,780 () 18,604,835 12,854,865 11,031,272 10,897,737 86,550,595 92,731,257 77,759,307 70,995,950 60,750,733 25,824,601 40,454,712 37,472,224 33,553,989 24,234,368 () 45,501,284 38,832,451 34,014,946 24,887,411 60,725,994 52,276,545 40,287,083 37,441,961 36,516,365 () 47,229,973 38,926,856 36,981,004 35,863,322 () 94 2. 94 93 92 91 90 41,975,536 41,924,420 35,207,238 21,649,409 17,095,341 9,488,716 7,821,858 1,040,374 3,061,034 3,399,813 () 6,793,349 5,087,649 (1,678,653) 33,753 355,622 134,141 62,721 82,329 69,890 131,824 465,553 602,444 953,877 1,073,233 1,246,713 14,665,790 13,603,481 3,965,529 1,317,078 2,122,416 12,223,911 12,084,669 3,604,776 1,083,232 1,695,419 () () 4.53 4.81 1.44 0.45 0.72 200

() 94 93 92 91 90 (%) 29.84 43.63 48.20 47.26 39.89 (%) 887.34 879.48 586.86 465.07 396.40 (%) 112.71 165.98 91.86 107.78 129.00 (%) 106.97 162.66 88.68 103.41 125.84 () 32.50 23.58 5.16 2.23 2.70 () 14.13 13.15 10.38 7.57 6.58 26 28 35 48 55 () () 4.91 4.29 2.99 1.63 1.08 () 0.47 0.49 0.47 0.33 0.28 (%) 14.03 14.71 5.81 2.87 4.31 (%) 21.63 26.11 9.28 2.93 4.78 25.09 20.97 (7.82) 0.16 1.74 (%) 54.17 56.08 18.47 6.26 10.39 (%) 29.12 28.83 10.25 5.00 9.92 ()() 4.53 4.81 1.44 0.45 0.72 (%) 142.11 (19.09) 13.14 (4.70) (6.31) (%) 120.39 27.88 91.11 83.94 125.37 (%) 15.66 (4.55) 2.51 (1.85) (2.00) 1.49 1.70 (1.91) 128.31 13.62 1.07 1.13 0.64 (0.03) (0.40) () 201

94 93 % 16,177,619 28,747,380 (12,569,761) (43.72) 61,332,033 54,365,909 6,966,124 12.81 8,282,320 8,811,455 (529,135) (6.01) 758,623 806,513 (47,890) (5.94) 86,550,595 92,731,257 (6,180,662) (6.67) 14,353,095 17,319,942 (2,966,847) (17.13) 8,468,039 20,692,832 (12,224,793) (59.08) 3,003,467 2,441,938 561,529 23.00 25,824,601 40,454,712 (14,630,111) (36.16) 27,075,246 24,259,425 2,815,821 11.61 4,640,403 4,030,933 609,470 15.12 28,367,360 23,651,407 4,715,953 19.94 642,985 334,780 308,205 92.06 60,725,994 52,276,545 8,449,449 16.16 20%10,000 1. 2. 3. 202

1. 95~99 93 94 93 1,193,454 745,408 94 1,011,518 1,011,518 95 3,989,119 3,989,119 2. TEU 1. 941231 931231 ()(%) (%) 142.11 (19.09) 844.42 (%) 120.39 27.88 331.81 (%) 15.66 (4.55) 444.18 203

2. (1) (2) (3) () (1)+(2)-(3) 4,701,240 2,263,777 1,885,475 5,079,542 1. () 94 93 % $41,975,536 $41,924,420 $51,116 0.12 32,486,820 34,102,562 (1,615,742) (4.74) 9,488,716 7,821,858 1,666,858 21.31 2,695,367 2,734,209 (38,842) (1.42) 6,793,349 5,087,649 1,705,700 33.53 8,477,421 9,288,124 (810,703) (8.73) 604,980 772,292 (167,312) (21.66) 14,665,790 13,603,481 1,062,309 7.81 2,441,879 1,518,812 923,067 60.78 12,223,911 12,084,669 139,242 1.15 (1) (2) (3) 204

2. () $1,081,016 $702,214 $757,079 $- $(378,277) 585,842 $1,666,858 (1) (2) (3) (4) (5) 1. 2. 3. 205

1. 9471 94 () V 2. 9471 206

() 207

(Peony Investment S. A.) (Peony Investment S. A.) (Peony Investment S. A.) 85,561,120 78,646,15665.77%57.99% 99,036,29088,712,95570.37%67.98% 18,516,00217,698,60414.23% 13.05% 208

2,117,5153,321,750 13.99%22.25% (88)()112701 209

941231 931231 941231 931231 % % % % 11xx-12xx 21xx 1100.1 $15,154,658 11.65 $14,077,390 10.38 2100.11 $1,800,000 1.38 $5,567,824 4.12 1110.2 4,659,870 3.58 17,022,731 12.55 2110.12 799,755 0.61 2,099,091 1.55 1120 28-35 - 2120 5,175-11,282 0.01 1140.3 13,786,344 10.60 13,146,307 9.69 2130 - - 1,388-1150.3 108,763 0.08 365,055 0.27 2140 5,226,207 4.02 4,707,152 3.47 1160-1170.4 791,116 0.61 413,622 0.30 2150 468,112 0.36 1,087,108 0.80 1180.4 40,421 0.03 196,158 0.14 2160 1,503,910 1.16 358,918 0.26 1190.5 932,707 0.72 61,058 0.05 2170.13 14,035,615 10.79 13,824,485 10.19 1230.6 2,483,165 1.91 1,954,709 1.44 2190 3,350-10,761 0.01 1250 867,953 0.67 1,054,325 0.78 2210-2220 805,766 0.62 119,886 0.09 1260 865-4,614-2270.14 9,852,769 7.57 10,150,602 7.48 1286.23 31,330 0.02 - - 2281 892,108 0.69 769,873 0.57 1291 132,050 0.10 135,200 0.10 2286.23 - - 19,964 0.01 1280.7 2,469,271 1.90 3,116,025 2.30 35,392,767 27.20 38,728,334 28.56 41,458,541 31.87 51,547,229 38.00 24xx 2410.15 7,505,039 5.77 9,957,832 7.34 14xx.8 2420.16 18,274,507 14.05 27,567,486 20.33 1421 25,779,546 19.82 37,525,318 27.67 142101 26,813,194 20.61 25,827,627 19.04 28xx 142102 6,208,167 4.77 6,066,084 4.47 2810.17 489,763 0.38 624,127 0.46 1422 12,581 0.01 - - 2820 3,626-85 - 1428 3,932-312 - 2861.23 2,291,662 1.76 1,521,865 1.12 1440 - - 135,330 0.10 2880 1,706,418 1.31 1,512,116 1.11 33,037,874 25.39 32,029,353 23.61 4,491,469 3.45 3,658,193 2.69 15xx.9 65,663,782 50.47 79,911,845 58.92 1501 2,153,576 1.66 2,013,985 1.49 2xxx 1521 2,054,019 1.58 1,929,889 1.42 1531 532,472 0.41 - -.18 1532 6,487,831 4.99 3,579,792 2.64 3 3110 27,075,246 20.81 24,259,425 17.89 1544 176,707 0.14 235,403 0.17.19 1551 23,479,139 18.05 23,620,941 17.42 3 3210 3,147,552 2.42 2,545,963 1.88 1552 72,172,780 55.48 66,717,834 49.19 3250 371-371 - 1553 625,223 0.48 745,093 0.55 3260 1,485,767 1.14 1,477,886 1.09 1561 286,787 0.22 275,377 0.20 3280 6,713 0.01 6,713-1631 6,504 - - - 4,640,403 3.57 4,030,933 2.97 15xy 107,975,038 83.01 99,118,314 73.08.20 15x9 (53,820,484) (41.37) (48,233,951) (35.56) 3 3310 5,220,594 4.01 4,012,127 2.96 1672 409,289 0.31 119,528 0.09 3320 957,344 0.74 957,344 0.71 54,563,843 41.95 51,003,891 37.61 3350 22,189,422 17.06 18,681,936 13.77 28,367,360 21.81 23,651,407 17.44 17xx 1770 193,954 0.15 146,175 0.11 3 3420 897,009 0.69 856,564 0.63 3430 (298,003) (0.23) (594,695) (0.44) 18xx 3440 43,979 0.03 72,911 0.05 1820 292,365 0.22 199,754 0.15 642,985 0.49 334,780 0.24 1830 194,533 0.15 280,441 0.21 60,725,994 46.68 52,276,545 38.54 1844.10 351,221 0.27 418,933 0.31 838,119 0.64 899,128 0.67 2883 3,702,555 2.85 3,437,386 2.54 3xxx 64,428,549 49.53 55,713,931 41.08 1xxx $130,092,331 100.00 $135,625,776 100.00 $130,092,331 100.00 $135,625,776 100.00 ( 210

94 93 % % 4000.21 $140,736,864 100.00 $130,489,078 100.00 5000.22 (123,946,956) (88.07) (114,766,183) (87.95) 5910 16,789,908 11.93 15,722,895 12.05 6000.22 (4,040,243) (2.87) (3,433,537) (2.63) 6200 (4,040,243) (2.87) (3,433,537) (2.63) 6900 12,749,665 9.06 12,289,358 9.42 7100 7110 470,587 0.33 188,000 0.14 7121.8 2,685,671 1.91 3,743,120 2.87 7122 377,750 0.27 340,035 0.26 7130 121,091 0.09 72,807 0.06 7140 200,646 0.14 - - 7210 59,240 0.04 49,298 0.04 7240 - - 2,795-7480 513,378 0.36 476,909 0.37 4,428,363 3.14 4,872,964 3.74 7500 7510 (1,631,034) (1.16) (1,840,453) (1.41) 7522 (28,619) (0.02) - - 7530 (11,542) (0.01) (30,000) (0.02) 7540 - - (4,867) - 7560 (23,163) (0.02) (176,106) (0.13) 7580 (77,895) (0.06) (80,549) (0.06) 7880 (269,252) (0.19) (101,933) (0.08) (2,041,505) (1.46) (2,233,908) (1.70) 7900 15,136,523 10.74 14,928,414 11.46 8110.23 (2,632,719) (1.87) (1,513,225) (1.16) 9710 $12,503,804 8.87 $13,415,189 10.30 9601 $12,223,911 $12,084,669 9602 279,893 $12,503,804 1,330,520 $13,415,189 ()().24 9750 $5.44 $4.53 $5.41 $4.81 9740AA 0.17 0.10 0.53 0.53 9710 $5.61 $4.63 $5.94 $5.34 9850 $5.13 $4.27 $4.99 $4.43 9840AA 0.16 0.10 0.49 0.49 9810 $5.29 $4.37 $5.48 $4.92 ( 211

9311 $21,468,777 $1,577,479 $3,651,650 $957,344 $9,606,098 $(11,948) $3,150,328 $(156,126) $43,481 $2,073,893 $42,360,976 92 360,477 (360,477) - 1,288,127 (1,288,127) - (1,288,127) (1,288,127) (50,000) (50,000) (22,100) (22,100) 1,502,521 2,545,963 4,048,484-48,751 48,751 (141,991) (141,991) 731 731 11,948 11,948 (790,804) (790,804) 29,430 29,430 (18,207) (18,207) (1,493,549) (1,493,549) (9,411) (9,411) (420,362) (420,362) 93 12,084,669 1,330,520 13,415,189 32,973 32,973 931231 24,259,425 4,030,933 4,012,127 957,344 18,681,936-856,564 (594,695) 72,911 3,437,386 55,713,931 93 1,208,467 (1,208,467) - 2,461,386 (2,461,386) - (4,922,772) (4,922,772) (80,000) (80,000) (43,800) (43,800) 354,435 601,589 956,024-7,859 7,859 22 22 149,382 149,382 (28,932) (28,932) (595) (595) (118,348) (118,348) 9,411 9,411 297,287 297,287 94 12,223,911 279,893 12,503,804 (14,724) (14,724) 941231 $27,075,246 $4,640,403 $5,220,594 $957,344 $22,189,422 $- $897,009 $(298,003) $43,979 $3,702,555 $64,428,549 212

94 93 $12,223,911 12,084,669 279,893 1,330,520 5,002,230 5,446,177 84,375 59,924 186,275 183,598 77,717 78,948 (109,549) (42,807) (2,031,645) (3,269,291) - (3,968) 1,300 - (12,581) - () (200,646) 4,867 () 27,319 (2,795) 3,400 - () 12,257,658 (11,614,188) (819,305) (1,646,051) 2,720,689 2,530,277 - (552,145) (61,058) () 173,893 (575,287) () (398,554) 22,101 () (249,584) 1,195,058 657 200 () 3,150 (417) 5,968 9,627 () (1,524) 104,613 (46,653) - () (253,578) 2,702,020 1,026,681 290,273 () (496,667) 3,110,592 () 548,243 (581,896) () (183,000) 254,836 115,145 27,481 730,708 1,174,885 167,656 133,084 30,281,437 12,945,992 (64,220) (816,771) 11,219 40,041 22,727 413,371 -() 144,741 (144,741) (6,320,871) (2,946,748) 1,707,049 1,448,463 (82,818) - (404,843) (85,179) 85,130 106,542 (4,901,886) (1,985,022) (3,797,183) (5,063,345) () (1,299,336) 529,536 () (1,500,000) 6,007,029 (12,520,502) (4,010,783) - 349,666 40 - () (14,724) 32,973 (4,936,710) (1,288,127) (119,692) (72,100) (24,188,107) (3,515,151) (405,295) (271,253) 291,118 - () 1,077,267 7,174,566 14,077,391 6,902,824 $15,154,658 $14,077,390 : $1,539,423 $1,934,624 - - $1,539,423 $1,934,624 $765,138 $35,543 : - $9,852,769 $10,150,602 $2,461,386 $1,288,127 $956,024 $4,049,197 213

() (Peony Investment S.A.)() (1) ()57925 71112767 6921 (2) ()8610 55% (3) (Peony Investment S.A.) 824100% (4) (Greencompass Marine S.A.GMS) 831100% (5) Clove Holding Ltd. (CLOVE)903100% (6) Vigor Enterprise S.A. (VIGOR)864100% 214

(7) Hatsu Marine Ltd. (HML)904 94123151% (8) Evergreen Heavy Industrial Corp. (Malaysia) Sdn. Bhd. (EHIC(M)) 8711941231 84.44% (9) Armand Investment (Netherlands) N.V. (Armand N.V.) 921094123170% (10) ()873 94123155% (11) PT. Multi Bina Pura International (MBPI)83 94123195.3% (12) PT. Multi Bina Transport (MBT)MBPI87 4911294123186.91% (13) Island Equipment LLC (ISLAND)HMLCLOVE93 494123143.65% (14) Ample Holding Ltd. (AMPLE)CLOVE903 94123190% (15) Armand Estate B.V.(Armand B.V.)Armand N.V.9210 100% (16) Whitney Equipment LLC (WHITNEY)ISLAND946 100% 215

(17) Hemlock Equipment LLC (HEMLOCK) ISLAND946 100% 949312313,0622,518 1. (1) 93() 50%10% 30%3% 947 50% 93() (2) 7 (3) 50% 1 2 3 4 216

5 (4) (5) (%) 94 93 55.00 55.00 100.00 100.00-70.00 943 GMS 100.00 100.00 CLOVE 100.00 100.00 VIGOR 100.00 100.00 HML 51.00 51.00 EHIC (M) 84.44 97.50 Armand N.V. 70.00 70.00 55.00 55.00 MBPI 95.30 95.00 MBT 86.91 86.69 M B T 17.39%MBPI MBT 72.95% 86.91% 217

(%) 94 93 ISLAND 43.65 43.65 HML ISLAND 15%CLOVE ISLAND 36% 43.65% VIGOR - 65.00 944 CLOVE AMPLE 90.00 90.00 Armand Armand B.V. 100.00 100.00 N.V. ISLAND WHITNEY 100.00 - HEMLOCK 100.00-94 218

(6) 93.12.31 94.12.31 - - GMS - - GMS CLOVE - - CLOVE VIGOR - - VIGOR HML - - HML EHIC (M) - - EHIC (M) Armand N.V. - - Armand N.V. Armand B.V. - - Armand B.V. AMPLE - - AMPLE - - - - - - - - - MBPI - MBPI - MBT - MBT - ISLAND - ISLAND - WHITNEY - WHITNEY - HEMLOCK - HEMLOCK 1 MBPI MBTISLANDWHITNEYHEMLOCK7 94 93 93 2 VIGOR9494 219

(7) 9450% 2. (1) (2) (3) 12 1 12 2 3 3. (1) (2) 4. 220

5. 6. 7. 8. 9. (1) 20% () () (2) 20% 5 50% 221

(3) 14 10. (1) (2) (3) $3,000 11. 35 () 12. 5 2~3 222

13. (1) (2) (3) 14. (1) 9.60%5.55% 1515 45 (2) 9471 6% (3) 18 223

15 (4) 15. 32 16. (1) 10% (2) 22 (3) 12 17. () () () 224

18. (1) 14 (2) 19. 27 (1) (2) (3) 225

(4) (5) 9435 94 1. 94.12.31 93.12.31 $92,215 $51,035 46,323 82,906 19,318 89,689 4,284,382 2,323,083 167,325-10,654,550 11,509,141 - - 50,000 (109,455) (28,464) $15,154,658 $14,077,390 94931.40%~14.75% 0.64%~4.65%931.20% 226

2. 94.12.31 93.12.31 $263,660 $233,204 4,289,345 16,465,089 20,472 40,944 60,587 3,948 80,000 301,791 4,714,064 17,044,976 (54,194) (22,245) $4,659,870 $17,022,731 94931231 3. 94.12.31 93.12.31 $13,827,028 $13,210,930 (35,633) (63,046) (5,051) (1,577) 13,786,344 13,146,307 108,763 365,055 $13,895,107 $13,511,362 4. 94.12.31 93.12.31 $17,824 $37,050 41,034 71,968 70,827 88,246 661,431 216,358 791,116 413,622 40,421 196,158 $831,537 $609,780 10 227

5. 94.12.31 93.12.31 $939,258 $66,951 (6,551) (5,893) $932,707 $61,058 94931231 6. 94.12.31 93.12.31 $2,078,390 $1,200,049 404,775 754,660 $2,483,165 $1,954,709 7. 94.12.31 93.12.31 $2,424,879 $3,062,320 11,315 11,973 33,077 41,732 $2,469,271 $3,116,025 (1) (2) Lloyd Triestino Di Navigazione S.P.A. 228

8. 94.12.31 93.12.31 $33,021,361 $31,893,711 12,581-3,932 312-135,330 $33,037,874 $32,029,353 (1) 94.12.31 93.12.31 (%) (%) () $- - $85,082 55.00 () 401,997 40.00 374,111 40.00 () 7,548,310 39.74 7,224,024 39.74 () 40,827 31.25 33,932 31.25 () 8,982,435 20.43 9,035,433 20.96 () 229,508 27.00 232,493 27.00 () 4,063 25.00 8,809 25.00 266,375 21.06 256,681 21.06 - - 97,169 55.00 80,906 40.00 72,937 40.00 172,093 40.00 160,637 40.00 Luanta Investment (Netherlands) N.V. 581,878 50.00 533,111 50.00 Balsam Investment (Netherlands) N.V. 6,029,020 49.00 5,163,792 49.00 Evergreen Shipping (S) Pte. Ltd. 39,195 25.50 29,712 25.50 Evergreen Korea Corporation 88,965 50.00 77,784 50.00 Evergreen Star (Thailand) Co., Ltd. 23,998 25.50 36,019 25.50 Colon Container Terminal S.A. 1,686,804 40.00 1,522,056 40.00 229

PT. Multi Bina Pura International - - 293,403 95.00 PT. Multi Bina Transport - - 4,387 17.39 PT. Evergreen Marine Indonesia 24,641 25.44 15,122 25.40 Evergreen Container Terminal 603,192 48.18 554,714 48.18 (Thailand) Ltd. Island Equipment LLC - - 8,899 43.65 Evergreen India Pvt. Ltd. 958 49.98 561 49.99 Evergreen Marine Australia Pty. Ltd. 8,029 25.50 6,759 25.50 26,813,194 25,827,627 () 27,273 5.68 50,000 5.68 () 190,322 4.93 190,322 4.93 () 1,250,000 2.53 1,250,000 2.53 () - 0.14 1,300 0.14 () 700,000 1.08 700,000 1.08 Linden Technologies, Inc. 15,372 2.53 15,372 2.53 Dongbu Pusan Container 50,912 15.00 49,441 15.00 Terminal Co., Ltd. Hutchison Inland Coriainter Depots Ltd. 48,811 7.50 47,401 7.50 South Asia Gateway Teminals 78,903 5.00 76,623 5.00 Classic Outlook Investment Ltd. 3,348,411 2.25 3,251,681 2.25 Everup Profits Ltd. 7 2.25 8 2.25 Lloyd Triestion LIK Ltd. 11-12 - 5,710,022 5,632,160 () 490,801 8.45 426,581 8.73 () 7,344 0.04 7,343 0.03 - - 498,145 433,924 $33,021,361 $31,893,711 230

1 94932,685,6713,743,120 2 9265() 5,000500,000 933$10.78 ()46,382 48,751 ()939 39,608 116,351 3 94825931027 ()$11.50$125,584 4,3118.45%8.73% 4 931022$10() 1,00010,00025% 5 ()94 1,300 6 ()947 45.45%$1022,727 22,727 7 ()932 36.5079%$10113,371 109,4033,968 231

8 ()938 30%$10300,000 300,000 9 Classic Outlook Investment Ltd.Everup Profits Ltd. CLOVE.16 bk Dongbu Pusan Container Terminal Co., Ltd.300,000 94 (2) 94.12.31 93.12.31 Tuntex 94.03.10-102.03.10 0% $12,581 $- (Thailand) Public Company Limited - - $12,581 $- 86Tuntex (Thailand) Public Company Limited USD 180 90 94THB15,737 (12,581)12,581 232

(3) 94.12.31 93.12.31 $312 $312 3,620 - $3,932 $312 (4) 94.12.31 93.12.31 102.09.12 $- $34,175 Banca Del Gottardo 102.09.24-68,410 Banca Del GottardoMoney Market - 42,156 Fund - 144,741 - (9,411) $- $135,330 93 1.69%~12.00% 9. 94.12.31 $2,153,576 $- $2,153,576 2,054,019 529,977 1,524,042 532,472 463,384 69,088 6,487,831 2,912,415 3,575,416 176,707 117,515 59,192 23,479,139 18,853,085 4,626,054 72,172,780 30,731,789 41,440,991 625,223-625,223 286,787 211,697 75,090 6,504 622 5,882 107,975,038 53,820,484 54,154,554 409,289-409,289 $108,384,327 $53,820,484 $54,563,843 233

93.12.31 $2,013,985 $- $2,013,985 1,929,889 519,447 1,410,442 - - - 3,579,792 2,706,490 873,302 235,403 158,838 76,565 23,620,941 17,258,965 6,361,976 66,717,834 27,380,043 39,337,791 745,093 1,115 743,978 275,377 209,053 66,324 - - - 99,118,314 48,233,951 50,884,363 119,528-119,528 $99,237,842 $48,233,951 $51,003,891 (1) (2) 94 93USD844,500USD1,054,340 GARDP&I(PROTECTION & INDEMNITY)94 93USD8,000,000USD1,000,000 (3) 94931231 5,221,5111,782,7269493 2,336,4937,332,299 94931231USD489,093 (4) #116 16 8111 234

(5) #79~81 10 89 10. 94.12.31 93.12.31 $446,329 $552,491 (24,281) (45,312) 422,048 507,179 (70,827) (88,246) $351,221 $418,933 (1) 9091 USD54,648 1.5%94931231 USD12,902USD15,965 (2) 941231 1 USD 2,165 1~2 8,451 2~3 1,143 3~4 1,143 USD 12,902 235

11. 94.12.31 93.12.31 (%) (%) 1.46~1.53 $1,800,000 1.20~1.35 $2,700,000 - - 1.70~3.28 2,871,311 - (3,487) $1,800,000 $5,567,824 12. 94.12.31 () 94.12.27~95.01.10 $200,000 () 94.12.27~95.01.10 200,000 () 94.12.23~95.01.10 200,000 () 94.12.27~95.01.10 200,000 800,000 (245) $799,755 93.12.31 () 93.12.07~94.01.06 $500,000 () 93.12.22~94.01.21 500,000 () 93.12.17~94.01.17 200,000 () 93.12.27~94.01.26 200,000 () 93.12.27~94.01.17 500,000 () 93.12.28~94.01.27 200,000 2,100,000 (909) $2,099,091 9493 1.18%~1.35%1.19%~1.22% 236

13. 94.12.31 93.12.31 $11,487,270 $10,659,614 2,572,447 3,241,837 (24,102) (76,966) $14,035,615 $13,824,485 93 3,241,8379412312,631,650 81.18%922,498,087931231 2,367,23494.76% 14. 94.12.31 93.12.31 $1,500,000 $1,500,000 2,798,000 3,025,199 5,554,769 5,625,403 $9,852,769 $10,150,602 15. 94.12.31 93.12.31 $- $1,500,000 1,500,000 1,500,000 1,000,000 1,000,000 1,500,000 1,500,000 1,500,000 1,500,000 1,634,400 2,179,700 1,864,300 2,273,900 6,339 4,232 9,005,039 11,457,832 (1,500,000) (1,500,000) $7,505,039 $9,957,832 237

(1) (2) 93112( )4,000,000 1 59311298111 2 0% 3 4 5 a. 340 30 50%()30 330.20% 340 b.340 400,000( 10%) c. 6 3303 3 100.60%0.20% 238

7 a. 310 3 b. 9210310 1520 115.00% $28.6094 1231$24.07 8 a. 3 3 b. (3) 9396( )4,500,000 1 593969895 2 0% 3 239

4 5 a. 340 3050% 30 b.340 450,000( 10%) c. 6 3.5303.5 7 a. 110 3 b. 938241 35 103.00% 240

$28.50941231 $21.68 8 113 () 3() ()12 31() 16. 94.12.31 93.12.31 $15,428,352 $24,803,551 2,846,155 2,763,935 $18,274,507 $27,567,486 (1) 94.12.31 93.12.31 $963,000 $10,735,000 14,465,352 14,068,551 $15,428,352 $24,803,551 241

1 94.12.31 93.12.31 87.04.21~94.04.21 $- $28,450 89.01.31~96.01.31-181,800 90.06.26~97.03.01-254,520 87.10.20~94.10.20-400,000 91.12.17~96.08.06 396,000 300,000 92.03.07~96.08.06-294,000 94.10.27~95.01.25 500,000-91.05.27~96.05.27 375,000 625,000 94.02.25~96.08.25-165,832 92.03.31~96.03.31-762,891 92.10.01~97.09.08-1,694,760 91.09.03~94.09.03-47,000 93.12.31~95.06.16-200,000 92.06.24~97.06.24-600,000 91.12.16~96.12.16-258,750 93.04.21~98.04.21-1,977,600 93.05.26~96.04.21-1,341,600 91.03.15~95.03.15-75,000 91.12.19~96.12.19-750,000 91.07.23~96.07.23-375,000 91.08.27~96.08.27 160,000 240,000 91.11.28~94.11.28-95,000 92.02.27~98.02.27 150,000 150,000 92.09.29~97.06.06 500,000 500,000 92.06.27~97.06.27 1,500,000 2,100,000 91.11.28~94.01.28-75,000 92.11.11~96.11.11 180,000 300,000 92.12.30~94.07.20-120,000 93.09.22~97.09.24-101,610 3,761,000 14,013,813 - (253,614) 3,761,000 13,760,199 (2,798,000) (3,025,199) $963,000 $10,735,000 94930.518%~4.515% 0.518%~4.307% 242

2 94.12.31 93.12.31 % % 88.08.10~95.08.10 4.483 $305,988 2.421 $594,297 84.11.15~94.11.15 - - 2.935 254,140 DEUTSCHE SCHI 88.06.03~96.12.03 7.050 461,824 7.050 672,724 BANK MARUBENI 84.06.22~94.06.22 - - 4.155 127,070 CORPORATION ROYAL MARITIME 88.06.10~96.12.10 5.545 86,592 3.535 126,136 CORPORATION 88.08.05~97.02.05 4.845 108,239 2.845 147,158 88.10.07~97.04.07 5.465 108,239 3.095 147,158 88.12.15~97.06.15 5.555 108,239 3.555 147,158 89.01.15~97.07.15 4.675 129,888 2.725 168,181 89.03.30~97.09.30 5.995 129,888 3.055 168,181 88.09.30~97.03.30 4.975 529,173 2.945 719,440 MITSUBISHI 86.11.07~94.11.07 - - 8.500 226,947 94.12.23~99.12.23 4.953 163,563 - - La Salle Bank 92.10.01~98.09.30 3.21~ 831,645 - - 5.47 Dnb Nor Bank 94.07.14~100.07.23 3.21~ 1,447,905 - - 5.47 ING Bank 94.09.27~104.11.14 LIBOR+ 3,483,190 - - 1.2~1.25 HSH Nordbank 91.12.05~103.06.05 LIBOR+ 1,450,836 - - 1.2~1.25 ABN BANK 87.01.31~95.01.30 4.355 124,308 2.418 362,150 86.05.13~95.05.13 5.040 124,308 2.970 362,150 UNI-ASIA 85.07.29~94.01.31 - - 2.725 28,161 87.09.17~97.09.17 4.645 596,676 2.681 772,586 88.07.29~98.07.29 4.550 719,675 2.610 873,606 89.03.30~99.03.30 4.960 824,355 2.960 978,439 89.01.05~99.01.05 5.584 824,355 2.731 978,439 243

94.12.31 93.12.31 % % 88.12.08~96.12.08 5.451 537,548 3.431 783,029 90.10.18~95.10.18 - - 3.088 825,955 93.03.30~101.03.30 4.220 343,481 4.510 381,210 FORTIS 91.12.18~94.12.19 - - 3.760 282,731 92.07.07~97.07.07 4.778 736,031 2.834 953,025 BEA 92.09.05~95.09.05 5.240 327,125 2.790 635,350 MIZUHO 92.09.17~96.09.17 4.938 703,319 2.938 1,024,502 UNIBOX 91.05.10~100.05.10 6.570 1,500,266 5.370 1,972,108 SG 92.01.28~117.04.14 LIBOR+ 1,796,430 3.910 3,041,145 1.2~1.25 Landes Bank 91.06.05~103.06.05 LIBOR+ 1,517,035 LIBOR+ 1,940,778 1.2~1.25 1.25 20,020,121 19,693,954 (5,554,769) (5,625,403) $14,465,352 $14,068,551 (2) 94.12.31 93.12.31 Edgeware Profits Ltd. 96.12.31 7.50% $2,846,155 $2,763,935 CLOVEClassic Outlook Investment Ltd.Everup Profits Ltd. Edgeware Profits Ltd. 244

17. (1) 94 93 $140,617 $91,929 36,487 16,952 (12,996) (9,400) 25,900 20,077 1,607-35,595 14,423 $227,210 $133,981 (2) 94.12.31 93.12.31 $(190,425) $(318,637) (781,681) (706,270) (972,106) (1,024,907) (90,395) (136,224) (1,062,501) (1,161,131) 482,343 400,780 (580,158) (760,351) 181,920 120,459 24,109 25,716 325,241 680,432 (440,875) (690,383) $(489,763) $(624,127) 245

(3) 94 93 3.00%~3.50% 2.50% 1.50%~1.90% 1.00% 3.00%~3.50% 2.50% 18. (1) 9493123133,000,000 30,000,00027,075,24624,259,425 2,707,5252,425,943$10 (2) 946232,461,386 246,139$1027,075,246 720 0940129447826 (3) 936241,288,127 128,813$1022,757,009 813 0930136258930 (4) 9493 94 93 () () 20,211 $202,111 67,467 $674,673 15,233 152,324 82,785 827,848 35,444 $354,435 150,252 $1,502,521 246

19. 10% 20. (1) 9392 26 10% 1%5% (2) 10% (3) ( ) (4) 0%50%100%50% 20% 100%50%0%50% 247

(5) 9392946 2393624 () 93 92 93 92 $4,922,772 $1,288,127 $2.00 $0.60 2,461,386 1,288,127 1.00 0.60 80,000 50,000 43,800 22,100 9392 $4.81$4.76$1.44 $1.41 () 93 =(12,084,66980,00043,800)/2,512,726=$4.76 92 =(3,604,77650,00022,100)/2,503,260=$1.41 (6) 9594 21. 94 93 $123,455,891 $119,401,349 13,788,745 9,632,212 23,558 75,277 95,416 34,030 2,098,751 748,700 1,274,503 597,510 $140,736,864 $130,489,078 248

22. 9493 94 $1,638,264 $1,264,918 $2,903,182 29,862 52,405 82,267 111,243 117,069 228,312 113,469 41,676 155,145 $1,892,838 $1,476,068 $3,368,906 $3,905,409 $1,096,821 $5,002,230 $- $- $- $206,348 $64,302 $270,650 93 $725,607 $1,058,923 $1,784,530 24,981 48,522 73,503 45,609 69,039 114,648 34,127 29,081 63,208 $830,324 $1,205,565 $2,035,889 $4,339,577 $1,085,360 $5,424,937 $183,598 $59,924 $243,522 249

23. (1) 94 93 $1,944,010 $651,385 10% 343 - (44,323) (288,509) 2,532 2 (582) (24,538) 730,739 1,174,885 $2,632,719 $1,513,225 (2) 94.12.31 93.12.31 1 $2,324,281 $(1,668,172) 2 $64,274 $126,343 3 $(325) $- 4 $(9,039,180) $(6,292,258) 2,779 1,805 (144,177) (200,466) 130,654 487,334 1,300-7,945 16,235 48,888 (66,256) 87,787 (101,526) 50,233-5 $38,682 $30,152 - - 38,682 30,152 (7,352) (50,116) $31,330 $(19,964) 250

6 $25,592 $96,191 (325) - 25,267 96,191 (2,316,929) (1,618,056) $(2,291,662) $(1,521,865) (3) MBPI941231 95 $50,233 (4) 9091 92 (5) 94.12.31 93.12.31 $515,213 $59,982 94 93 3.10% 4.14% 9493 (6) 94.12.31 93.12.31 86 $5,570,596 $5,570,596 87 16,618,826 13,111,340 $22,189,422 $18,681,936 251

24. (1) 94 93 $14,665,790 $12,223,911 $13,603,481 $12,084,669 470,733 279,893 1,324,933 1,330,520 $15,136,523 $12,503,804 $14,928,414 $13,415,189 () 2,425,942 2,425,942 2,146,878 2,146,878 94 (0.10/) 245,274 245,274 228,430 228,430 93 (0.06/) - - 128,813 128,813 26,793 26,793 8,605 8,605 2,698,009 2,698,009 2,512,726 2,512,726 () $5.44 $4.53 $5.41 $4.81 0.17 0.10 0.53 0.53 $5.61 $4.63 $5.94 $5.34 252

(2) 94 93 $14,665,790 $12,223,911 $13,603,481 $12,084,669 4,197 3,147 7,596 5,697 14,669,987 12,227,058 13,611,077 12,090,366 470,733 279,893 1,324,933 1,330,520 $15,140,720 $12,506,951 $14,936,010 $13,420,886 () 2,425,942 2,425,942 2,146,878 2,146,878 94 (0.10/) 245,274 245,274 228,430 228,430 93 (0.06/) - - 128,813 128,813 26,793 26,793 8,605 8,605 163,409 163,409 213,150 213,150 2,861,418 2,861,418 2,725,876 2,725,876 () $5.13 $4.27 $4.99 $4.43 0.16 0.10 0.49 0.49 $5.29 $4.37 $5.48 $4.92 253

1. (EIS) (Evergreen International S.A.) ()() () PT. Multi Bina Transport (MBT) PT. Multi Bina Pura International (MBPI) Island Equipment LLC. (ISLAND) Whitney equipment LLC (WHITNEY) Hemlock equipment LLC (HEMLOCK) ()() ()() ()() ()() ()() ()() ()() () ()() () () () Taranto Container Terminal S.P.A. (TCT) Lloyd Triestino Di Navigazione S.P.A. (LT) Evergreen Container Terminal (Thailand) (ECTT) Colon Container Terminal S.A. (CCT) PT. Evergreen Marine Indonesia (EMI) Evergreen Star (Thailand) Co., Ltd. (EGT) Evergreen Shipping (S) Pte. Ltd. (EGS) Evergreen Korea Corporation (EGK) Evergreen India Pte. Ltd. (EGI) Gaining Enterprise S.A. (GESA) (943) 254

2. (1) 94 93 $1,887 - $1,424-101,742 0.07 104,901 0.08 LT 640,013 0.46 131,132 0.10 EIS 92,422 0.07 84,885 0.07 GESA 17,879 0.01 - - - - 146 - - - 762 - $853,943 0.61 $323,250 0.25 (2) 94 93 $1,403,285 1.10 $2,217,018 1.88 497,692 0.39 472,385 0.40 21,528 0.02 74,364 0.06 20,356 0.02 62,343 0.05 42,935 0.03 46,059 0.04 8,016-5,658-12,737 0.01 2,981 - - - 632,052 0.54 26,546 0.02 122,738 0.10 GESA 1,954,468 1.53 2,105,492 1.78 LT 10,075 0.01 99,112 0.08 EIS 117,826 0.09 95,313 0.08 EMI 74,091 0.05 60,354 0.05 EGT 84,764 0.07 65,486 0.06 EGS 64,588 0.05 30,695 0.03 EGK 49,816 0.04 53,346 0.05 $4,388,723 3.43 $6,145,396 5.20 255

(3) 94 93 () () LT $1,048 $971 $1,567 $1,466 - - 16-780 686 - - CCT - - 195-2,645 97 53 17 - - 170 165 TCT - - 379 33 $4,473 $1,754 $2,380 $1,681 (4) 1) 9493( ) 94 93 % % $57,499 97.06 $48,299 97.98 264 0.45 96 0.19 168 0.28 - - $57,931 97.79 $48,395 98.17 2) 9493( ) 94 93 % % $36,954 90.50 $30,484 81.93 1,175 2.88 1,197 3.22 1,227 3.00 202 0.55 $39,356 96.38 $31,883 85.70 256

3) () 94 93 % % LT $10,095 0.25 $85,775 1.49 EIS 117,202 2.86 97,121 1.68 GESA 1,964,870 47.90 2,113,399 36.61 829,410 20.22 863,879 14.97 $2,921,577 71.23 $3,160,174 54.75 (5) () 3. 94.12.31 93.12.31 % % $84,032 0.60 $340,659 2.52 24,731 0.18 24,396 0.18 $108,763 0.78 $365,055 2.70 $12,389 1.49 $8,907 1.46 17,521 2.11 8,092 1.33 GESA - - - - CCT 1,658 0.20 - - EGI 8,178 0.98 18,045 2.96 ISLAND - - 161,114 26.42 675 0.08 - - $40,421 4.86 $196,158 32.17 257

$- - $1,388 10.96 $4,828 0.09 $127,511 2.20 - - 37,146 0.64 17,660 0.31 57,661 0.99 - - 30,831 0.53 - - 13,128 0.23 3,635 0.06 - - LT 425,372 7.47 799,355 13.80 EIS 15,028 0.26 6,338 0.11 1,589 0.03 15,138 0.26 $468,112 8.22 $1,087,108 18.76 EIS $2,590 0.32 $10,761 8.24 760 0.09 - - $3,350 0.41 $10,761 8.24 3. 94 (%) EGI $8,178 $8,178 3.755~4.509 $308 93 (%) ECTT $1,165,581 $- - $- MBT 15,884 - - - EIS 317,675 - - - EGI 7,942 7,942 - - $7,942 $- 258

4. 94.12.31 93.12.31 TCT EUR 41,213 USD 92,563 CCT USD 18,353 USD 19,080 ISLAND USD - USD 56,353 5. (1) 857 (2) 91 94931231 83,602340,659 (3) 846 1,614 (4) 94 931231 94.12.31 93.12.31 EIS $6,758 $6,673 GESA 4,557 5,300 $11,315 $11,973 259

(5) 94931231 1 94.12.31 93.12.31 EIS 434,606 228,700 47,966 - GESA 27,225 152,601 LT 37,016 576,461 EMI 56,081 32,991 EGT 3,938 70,150 EGS - 181 $606,832 $1,061,084 2 94.12.31 93.12.31 EGI $50,239 $- (6) 9493() 94 93 $93,472 $96,793 EIS - 32,993 GESA 17,897 - $111,369 $129,786 (7) GESAEIS 260

6. 1. 94.12.31 93.12.31 $380,000 $1,074,069 2. 94.12.31 93.12.31 Classic Outlook Investment Ltd. $3,348,411 $3,251,681 Everup Profits Ltd. 7 8 Dongbu Pusan Container Terminal - 49,441 Co., Ltd. $3,348,418 $3,301,130 3. 94.12.31 93.12.31 $130,000 $130,000 1,050 4,550 600-50 600 350 50 $132,050 $135,200 261

4. 94.12.31 93.12.31 $1,947,491 $1,947,491 998,913 1,021,551 2,550,123 669,208 1,760,363 2,199,770 23,120,066 29,735,283 $30,376,956 $35,573,303 1. 94.12.31 93.12.31 NTD - NTD 282,213 USD 5,000 USD 250 EUR - EUR 1,050 2. 94.12.31 93.12.31 TCT EUR 41,213 USD 92,563 CCT USD 18,353 USD 19,080 ISLAND USD - USD 56,353 3. 85619 (85) () 354108582 US115,0005,449,592 54,495,920$50.50817,438 6,267,03062,670,300$50.50 262

US115,000869412312,025,506 20,255,111941231 7,453,148839,3888,393,931 4. 941231 7,592,000JPY760,000 2,459,000JPY760,000 5. 91 941231 29,949 6. 88 941231 RMB10,10189 90 (941231RMB2,710) 7. 941231 USD 4,020 USD 2,172 USD 1,848 NTD 207,000 NTD 41,400 NTD 165,600 USD 16,650 USD 7,493 USD 9,157 263

8. 941231HEMLOCKWHITNEYEHIC(M) USD 13,000 USD 11,700 USD 1,300 USD 858 USD 172 USD 686 USD 2,730 USD 1,228 USD 1,502 NTD 80,000 NTD 24,000 NTD 56,000 RMB 9,469 RMB 2,841 RMB 6,628 5 RMB 430 - RMB 430 USD 473 USD 142 USD 331 USD 74 USD 22 USD 52 USD 327 USD 98 USD 229 RM 2,500 RM 250 RM 2,250 9. 941231 $45,507 GESA 78,075 EIS 1,985 KSG 15,738 EPC 2,690 TDS 42,709 HFE 1,614 APOLL 244,792 CORSO 161,290 EIS 745,838 ELEPH 235,739 HCS 588,978 HERME 253,236 264

HKS 341,136 PANAG 237,954 POSEI 254,327 PSC 356,482 SAT 1,455,430 C19 2,695,058 TIGER 238,917 TDS 1,385,829 CONTI 4,906,439 FSL 4,905,669 Quaterieme Leasing International Co., Ltd. 1,712,390 HALIFAX 6,089,228 $26,997,050 10. 941231ISLAND 910,740 11. 941231() 77,455 12. 949312317,597,221 11,027,131 1. 9531 () USD63,800 265

2. 9531() $1258,159697,906 20.02% 1. (1) 94.12.31 93.12.31 () () (IRS) USD 265,676 USD 1,397 USD 120,000 - NTD 1,910,000 - NTD 2,615,000 - (CCS) USD 13,125 - USD 21,875 - (Oil Swap) USD 70,946 USD 3,676 USD 7,946 - USD 23,235 - USD 58,000 - (Foreign Exchange Option) EUR JPY 28,000 1,920,000 - - EUR JPY 31,000 5,415,235 - - (2) (IRS)(CCS)(Foreign Exchange Option)(Forward Exchange Contract) (Oil Swap) 266

(3) (IRS)(CCS)(Forward Exchange Contract)(Foreign Exchange Option) (4) (Oil Swap) (5) a. (IRS) b. (Cross Currency Swap) c. (Foreign Exchange Option) d. (Oil Swap) (6) (Oil Swap) 267

2. 94.12.31 93.12.31 $15,154,658 $15,154,658 $14,077,390 $14,077,390 4,659,870 4,702,861 17,022,731 17,067,596 14,655,845 14,655,845 14,032,931 14,032,931 932,707 932,707 61,058 61,058 33,021,361 32,401,733 31,893,711 32,031,647 12,581 12,581 - - - - 135,330 135,330 292,365 292,365 199,754 199,754 422,048 422,048 507,179 507,179 () 132,050 132,050 135,200 135,200 1,800,000 1,800,000 5,567,824 5,567,824 799,755 799,755 2,099,091 2,099,091 22,048,135 22,048,135 20,120,980 20,120,980 9,005,039 9,005,039 11,457,832 11,457,832 () 26,627,276 26,627,276 36,218,088 36,218,088 () 489,763 489,763 624,167 624,167 3,626 3,626 85 85 (IRS) - USD (4,950) - USD (393) (CCS) - USD (948) - USD (2,433) 33,175 NTD 33,175 215,540 NTD 215,540 () (Oil Swap) USD 2,832 - USD (9,100) 268

(1) (2) (3) () (4) (5) 3. (1) 94 1) $41,507,177 $41,630,304 2) 369 66,054 312,445 598,235 14,389-211,075 780,417 3) () (2,002,716) 2,002,716 742 (742) 4) 63,634 269

(2) 93 1) $34,672,963 $34,737,847 2) - 1,013,791 1,000,993 756,514 12,798-756,514-3) () (26,732) (128) (1,325,227) 1,325,227 4) 64,884-1. (1) (2) (3) (4) 20% (5) 20% (6) 20% (7) 20% (8) 20% (9) 12 270

2. (1) (2) 1 2 3 4 20% 5 20% 6 20% 7 20% 8 20% 9 3. (1) (2) 1 2 3 4 5 6 271

1. 2. 3. 4. 10% 272

~ ~ 2.600% 3.400% ~ ~ : : : : 273

~ ~ 3.900% 1.47% 4%-6M Libor ~ ~ : 274

0.00% 0.00% 0. 20% 275

() 94 0 () () $3,214-36,486 0.03 626,034 0.44 287 - Greencompass Marine S.A. 115,163 0.08 11,326 0.01 320,605 0.25 7,414 0.01 1,045,103 0.74 742 - Hatsu Marine Ltd. 3,064-284,850 0.20 8,161 0.01 734,806 0.52 167,176 0.13 PT. Multi Bina Pura International 13 - Evergreen Heavy Industrial Corp. (Malaysia) Sdn. Bhd 59-10 - (%) 1 () () 626,034 0.44 3,214-56,779 0.04 287-2 (Peony Greencompass Marine S.A. 32,034 0.02 3 Greencompass Marine S.A. () 1,045,103 0.74 115,163 0.08 553,549 0.43 742 - (Peony Investment S.A.) 32,034 0.02 4 Hatsu Marine Ltd. () 734,806 0.52 284,850 0.20 44,686 0.03 5 (Peony Investment S.A.) 113,745 0.09 4,121 - Greencompass Marine S.A. Hatsu Marine Ltd. 198-6 Island Equipment LLC () 9,275 0.01 1,162-1.0 2.1 1. 2. 3. 276

94111231 (%) () () () () 0 Greencompass Marine S.A. NTD 636,990 NTD - 3.82 2 115,163 NTD- - NTD- NTD 11,811,453 NTD 23,622,906 (USD 20,000) 1,045,103 1 Evergreen India Pte. Ltd. USD 250 USD 250 3.755~4.509 2 USD- USD- - USD- USD 158,242 USD 316,484 2 Greencompass Marine S.A. USD 60,000 USD - SIBOR+0.9 2 USD- USD- - USD- USD 231,091 USD 462,182 3 Clove Holding Ltd. USD 7,050 USD - - 2 USD- USD- - USD- NTD 11,811,453 NTD 23,622,906 Island Equipment LLC. USD 14,085 USD 14,085 4.7~5.74 2 USD- USD- - USD- NTD 11,811,453 NTD 23,622,906 4 PT. Multi Bina Pura PT. Multi Bina Transport USD 350 USD 150 1.5 2 USD 74 USD- - USD- NTD 11,811,453 NTD 23,622,906 International 5 Armand Investment N.V. Armand Estate B.V. USD 2,691 USD 2,691 3.82 2 USD- USD- - USD- NTD 11,811,453 NTD 23,622,906 6 Hatsu Marine Limited Island Equipment LLC. USD 6,035 USD 6,035 3.79~5.43 2 USD- USD- - USD- NTD 11,811,453 NTD 23,622,906 7 Vigor Enterprise S.A. USD 2,995 USD - 4.38 2 USD- USD- - USD- NTD 11,811,453 NTD 23,622,906 1. 2. 2 1.20% NTD59,057,266*20%=NTD11,811,453 USD1,155,454*20% = USD231,091 Greencompass Marine S.A. USD791,210*20% = USD158,242 2.40% NTD59,057,266*40%=NTD23,622,906 USD1,155,454*40% = USD462,182 Greencompass Marine S.A. USD791,210*40% = USD316,484 277

94111231 () (%) () 0 Greencompass Marine S.A. 3 $118,114,532 $14,385,047 $9,493,080 $- 16.07 $177,171,798 (USD447,185) (USD290,197) 0 2 118,114,532 2,544,489 - - - (USD79,100) (USD-) 0 Taranto Container Terminal S.P.A 1 29,528,633 2,803,730 1,600,742-2.71 (EUR 47,909) (EUR 41,213) 0 Hatsu Marine Limited 3 118,114,532 13,286,478 13,499,979-22.86 (USD413,034) (USD412,686) 0 Whitney Equipment LLC. 3 118,114,532 302,186 282,017-0.48 (USD9,394) (USD8,621) 0 Hemlock Equipment LLC. 3 118,114,532 1,763,578 1,447,905-2.45 (USD54,824) (USD44,262) 0 Colon Container Terminal S.A. 6 29,528,633 613,765 600,380-1.02 (USD19,080) (USD18,353) 0 Island Equipment LLC. 3 118,114,532 2,097,000 - - - (USD65,189) (USD-) 1. 2.50% 3.50% 4.50% 5. 6. 300% 59,057,266*300% = 177,171,798 278

941231 (%) : 4,765 $41,434,463 100.00 $41,498,097 5,500 72,714 55.00 72,714 32,000 401,997 40.00 401,997 424,062 7,548,310 39.74 7,542,420 3,125 40,827 31.25 40,827 692,412 8,982,435 20.43 8,982,436 16,000 153,219 20.00 153,219 1,000 4,063 25.00 4,063 2,727 27,273 5.68 41,618 19,717 190,322 4.93 258,880 126,735 1,250,000 2.53 888,412 Linden Technologies, Inc. 50 15,372 2.53 15,372 70,000 700,000 1.08 296,100 42,231 490,801 8.45 487,778 2,853 7,344 0.04 79,213 200 1,550-1,348 125 2,868-2,740 70 2,769-2,784 22 290-184 301 11,376-9,625 1,069 17,962-12,391 351 10,930-10,634 2,000 24,657-16,240 50 2,705-3,346 151 6,583-7,031 300 4,045-3,402 50 2,588-3,067 100 2,378-2,299 2,050 63,796-42,818 110 5,288-4,714 600 7,856-6,696 120 3,440-3,156 250 11,091-10,288 509 7,480-5,383 150 4,131-3,207 450 13,304-13,752 20 7,006-9,608 200 4,664-4,052 275 5,315-4,879 300 4,191-3,720 100 4,311-4,048 100 5,651-5,039 350 11,192-8,225 227 14,202-11,935 1 41-42 588 10,000-12,165 3,000 30,030-31,740 3,000 30,000-30,000 1,413 15,000-15,886 2,000 20,000-22,200 2,840 30,000-30,333 4,335 50,125-52,758 4,938 50,000-51,392 3,900 40,000-45,579 3,000 30,000-32,910 / 279

941231 (%) / 2015 $50,100 - $50,200 20,000-21,339 30,000-31,064 50,040-51,050 ETF 50,000-52,275 20,000-19,997 99 100,000-99,553 30,000-31,563 GAMA 30,000-29,790 40,000-40,040 30,000-30,000 30,000-35,160 30,060-29,726 80,080-79,622 30,000-31,519 30,060-31,997 30,000-30,418 100,000-99,809 30,000-29,801 30,000-29,520 100,000-108,289 50,000-49,490 30,000-30,153 30,000-30,330 50,000-50,247 50,000-50,130 50,000-49,922 30,000-30,092 100,000-100,010 100,000-100,009 403,200-407,961 28,549 100,000-100,012 100,000-100,011 200,000-200,132 100,000-100,011 30,000-30,041 100,000-100,011 100,000-100,010 100,000-100,003 100,000-100,011 100,000-100,010 100,000-100,011 280

941231 / (%) 9,146 $100,000 - $100,011 9,887 100,000-100,011 11,365 115,000-115,034 111 34,670-33,463 MFS Meridian Emerg MKTS DEBT FD 117 67,562-67,652 MFS Inflation Adjusted Bond Fund 248 80,468-82,338 MFS Global Balanced Fund 31 15,913-16,726 PERMAL FUND 1 8,601-9,455 Forsyth Alternative Income Fund Class R () 88 42,530-39,968 Forsyth Alternative Income Fund Class R () 85 31,580-27,332 Skandia Global Bond Fund Class B 41 15,792-15,841 ABN AMRO HONG KONG EQUITY GUARNTEED FUND 10 31,735-31,116 Alexandra Global Inv. (ASIA) B 39 16,953-17,102 Investec Global Energy Fund "C" Inc 4 33,755-32,345 ABN ASIA BOND FUND A 10 33,540-32,713 10 29,871-27,885-20,472-24,834 TUNTEX (THAILAND) PUBLIC COMPANY LIMITED 16 12,581-12,581 MERRILL LYNCH 1 3,948-3,406 80 6,639-6,800 500 50,000-48,885-80,000-80,000 (Peony Investment Greencompass Marine S.A. 3,535 USD799,146 100.00 USD799,146 S.A.) Vigor Enterprise S.A. 80 USD4,575 100.00 USD4,575 Clove Holding LTD. 10 USD59,968 100.00 USD59,968 Evergreen Heavy Industrial Corp. (M) Berhad 42,120 USD36,371 84.44 USD36,371 PT. Multi Bina Pura International 68 USD9,518 95.30 USD9,518 PT. Multi Bina Transport 2 USD185 17.39 USD185 Armand Investment (Nertherlands) N.V. 4 USD1,700 70.00 USD1,700 - USD3,279 55.00 USD3,279 Hatsu Marine Limited 765 USD105,674 51.00 USD105,674 Luanta Investment (Netherlands) N.V. - USD17,788 50.00 USD17,788 Evergreen Container Terminal (Thailand) Ltd. 12,250 USD18,439 48.18 USD18,439 - USD8,143 21.06 USD8,143 - USD2,473 40.00 USD2,473 - USD5,261 40.00 USD5,261 Balsam Investment (Netherlands) N.V. - USD184,387 49.00 USD184,387 Evergreen Shipping (S) Pte. Ltd. 383 USD1,198 25.50 USD1,198 Evergreen Korea Corporation 61 USD2,720 50.00 USD2,720 Evergreen Star (Thailand) CO., Ltd. 204 USD734 25.50 USD734 PT. Evergreen Marine Indonesia - USD753 25.40 USD753 Evergreen India Pte Ltd. 5 USD29 49.99 USD29 Evergreen Marine Australia Pty Ltd. - USD245 25.50 USD245 Hutchison Inland Container Depost Limited 1 USD1,492 7.50 USD1,492 South Asia Gateway Terminals 6,211 USD2,412 5.00 USD2,412 Dongbu Pusan Container Terminal Co., Ltd. 300 USD1,556 15.00 USD1,556 281

941231 (%) PT. Multi Bina Pura International PT. Multi Bina Pura International 8 USD705 72.95 USD705 / Clove Holding Ltd. Ample Holding LTD. 9 USD18,154 90.00 USD18,154 Classic Outlook Investment Ltd. Clove - USD102,359 2.25 USD102,359 Everup profits ltd. - - 2.25 - Island Equipment LLC - USD409 36.00 USD409 Ample Holding Ltd. Colon Container Terminal S.A. Ample 22,860 USD51,564 40.00 USD51,564 Island Equipment LLC Whiteny Equipment LLC Island - USD437 100.00 USD437 Hemlock Equipment LLC - USD506 100.00 USD506 Hatsu Marine Limited Island Equipment LLC - USD166 15.00 USD166 Armand Investment Armand Estate (Netherlands) B.V. 40 (USD280) 100.00 (USD280) (Netherlands) N.V. Armand Estate (Nertherlands) Taipei Port Container Terminal Armand Estate B.V. 80,000 USD2,332 10.00 USD2,332 B.V. Greencompass Marines S.A. UG 103 USD1,030 - USD1,039 Portus Banc Notes Series X 98 USD1,000 - USD1,000 ABN 1 USD1,000 - USD1,114 UBS Forward Arbitrage Strategy Fast Notes 50 USD5,000 - USD4,703 282

() 94111231 / 9966 5,000 $50,000 5,007 $50,000 10,007 $100,918 $100,000 $918 - $- ETF - - 9,762 100,000 4,881 51,592 50,000 1,592 4,881 50,000 99 - - 10,000 100,000 - - - - 10,000 100,000 - - 10,000 100,000 10,000 102,300 100,000 2,300 - - - - 10,000 100,000 - - - - 10,000 100,000 - - 10,000 100,000 10,000 105,350 100,000 5,350 - - - - 19,939 200,000 19,939 201,558 200,000 1,558 - - - - 19,826 200,000 19,826 200,684 200,000 684 - - - - 10,000 100,000 - - - - 10,000 100,000 - - 9,952 100,000 9,952 100,420 100,000 420 - - 30,023 380,000 2,751 35,000 32,774 416,968 415,000 1,968 - - 10,323 130,000 15,731 200,000 18,231 231,499 230,000 1,499 7,823 100,000 90,388 1,008,000 34,773 390,000 125,161 1,409,588 1,398,000 11,588 - - 36,045 375,000 44,898 470,000 71,468 748,523 745,000 3,523 9,475 100,000 - - 21,134 343,000 21,134 343,130 343,000 130 - - 20,993 298,000 32,453 463,000 53,446 763,187 761,000 2,187 - - 45,133 598,200 30,332 405,000 45,173 604,218 600,000 4,218 30,292 403,200 10,054 115,000 - - 10,054 116,510 115,000 1,510 - - - - 11,313 130,000 2,617 30,053 30,000 53 8,696 100,000 31,412 345,000 28,581 315,000 59,993 662,971 660,000 2,971 - - 36,323 531,000 25,759 380,000 62,082 917,549 911,000 6,549 - - 11,466 122,000 35,620 385,000 47,086 511,593 507,000 4,593 - - 3,380 50,000 21,707 325,000 18,443 276,097 275,000 1,097 6,644 100,000 10,956 150,000 - - 10,956 150,078 150,000 78 - - 21,696 268,000 - - 21,696 272,853 268,000 4,853 - - 72,376 730,000 19,450 200,000 72,376 741,198 730,000 11,198 19,450 200,000 45,266 621,000 36,090 500,000 74,200 1,029,181 1,021,000 8,181 7,156 100,000 18,490 280,000 - - 18,490 280,550 280,000 550 - - 472 75,000 1,727 278,000 2,199 355,688 353,000 2,688 - - 17,905 245,000 25,479 350,000 43,384 598,705 595,000 3,705 - - 13,410 150,000 21,179 240,000 25,803 291,943 290,000 1,943 8,786 100,000 25,628 272,000 9,768 104,000 35,396 378,968 376,000 2,968 - - - - 6,741 100,000 6,741 100,099 100,000 99 - - 36,153 535,000 53,105 790,000 89,258 1,331,073 1,325,000 6,073 - - 1699 49,803 600,000 23,142 280,000 72,945 886,853 880,000 6,853 - - 5599 13,272 143,000 19,655 215,000 32,927 362,111 358,000 4,111 - - 20,002 273,000 21,657 298,043 34,437 472,409 471,043 1,366 7,222 100,000 - - 14,223 210,000 14,223 210,627 210,000 627 - - 9,081 100,000 - - 9,081 100,204 100,000 204 - - 9,432 100,000 - - 9,432 100,596 100,000 596 - - 46,504 500,000 - - 46,504 501,618 500,000 1,618 - - 33,514 350,000 16,609 175,000 50,123 526,998 525,000 1,998 - - 6,707 93,000 6,958 100,000 6,707 96,257 93,000 3,257 6,958 100,000 31,514 373,000 4,600 55,000 36,114 432,593 428,000 4,593 - - 7,628 87,000 8,481 98,000 16,109 186,978 185,000 1,978 - - 60,471 749,000 15,635 195,000 76,107 950,853 944,000 6,853 - - 8,271 106,500 7,604 100,000 8,271 108,045 106,500 1,545 7,604 100,000 11,207 122,500 - - 11,207 123,845 122,500 1,345 - - 4,493 50,000 14,743 165,000 19,236 215,919 215,000 919 - - 26,910 318,000 32,756 390,000 51,336 612,222 608,000 4,222 8,330 100,000 13,099 211,000 17,248 280,000 30,347 493,952 491,000 2,952 - - 42,544 608,000 16,343 235,000 58,887 847,497 843,000 4,497 - - 13,049 148,000 263 3,000 13,312 152,786 151,000 1,786 - - 21,318 300,000 21,926 310,000 43,244 613,044 610,000 3,044 - - 25,412 271,000 13,453 145,000 38,865 419,610 416,000 3,610 - - - - 26,396 300,000 17,646 201,391 200,000 1,391 8,751 100,000 42,275 535,000 4,453 57,000 46,728 601,588 592,000 9,588 - - 33,871 400,000 26,140 310,000 60,011 713,447 710,000 3,447 - - 29,442 315,000 - - 29,442 317,599 315,000 2,599 - - 13,604 200,000 13,594 200,000 27,198 400,688 400,000 688 - - 43,872 472,000 47,887 520,000 82,612 897,668 892,000 5,668 9,146 100,000 - - 21,310 215,000 11,423 115,118 115,000 118 9,887 100,000 20,000 200,000 24,753 250,000 33,388 335,253 335,000 253 11,365 115,000.. 283

94111231 () () () () () (%) (%) $1,403,285 3.89 30~60 $- - $(4,828) 0.17 101,742 0.24 30~60 24,731 0.99 497,692 1.41 30~60 - - (17,660) 0.64 626,034 1.78 30~60 - - (36,486) 1.32 Hatsu Marine Limited 734,806 2.09 30~60 - - (167,176) 6.05 284,850 0.68 30~60 - - - - Greencompass Marine S.A. 1,045,103 2.97 30~60 - - (7,413) 0.27 115,163 0.28 30~60 - - - - Gaining Enterprise S.A. 1,954,468 5.56 30~60 - - - - Evergreen International S.A. 117,826 0.33 30~60 - - (15,028) 0.54 Lloyd Triestino Di Navigazione 640,013 1.52 30~60 - - - - S.P.A. 624,075 99.88 30~60 - - 56,779 99.25 Hatsu Marine Limited GBP 13,712 3.11 30~60 - - GBP 3,029 10.33 GBP 588 0.15 30~60 - GBP - - Greencompass Marine S.A. USD 32,214 1.43 30~60 - - USD - - USD 3,561 0.18 30~60 - - USD - - 284

() 94111231 () NTD 83,602 - NTD - - NTD 82,812 NTD - NTD 17,521 - NTD - - NTD 17,354 NTD - Hatsu Marine Island Equipment USD6,035 - USD - - USD2,458 USD - Limited LLC. Clove Holding Island Equipment USD14,085 - USD - - USD5,500 USD - Ltd. LLC. 285

94111231 (%) () () 53Rd Street, Urbanizacion Obarrio USD 476,500 USD 476,500 4,765 100.00 $41,434,463 $6,878,598 $6,879,847 Torre Swiss Bank, 2nd Floor, Panama 1772 55,000 55,000 5,500 55.00 72,714 (1,037) (1,368) () 3692 320,000 320,000 32,000 40.00 401,997 69,714 27,886 () 899 4,753,514 4,753,514 424,062 39.74 7,548,310 1,334,218 517,375 () 11145 25,000 25,000 3,125 31.25 40,827 24,066 6,895 () 137611 8,569,973 8,569,973 692,412 20.43 8,982,435 1,326,060 259,284 () 2206 160,000 160,000 16,000 20.00 153,219 (8,881) (1,776) () 18533 10,000 10,000 1,000 25.00 4,063 (18,984) (4,746) () / 286

94111231 (%) Greencompass Marine S. A. 53rd Street, Urbanizacion USD 353,500 USD 353,500 3,535 100.00 USD 799,145 USD 139,444 USD 139,444 Obarrio Torre Swiss Bank, 2nd Floor, Panama, Republic of Panama / Vigor Enterprise S. A. 53rd Street, Urbanizacion USD 8,000 USD 8,000 80 100.00 USD 4,575 (USD 724) (USD 724) Obarrio Torre Swiss Bank, 2nd Floor, Panama, Republic of Panama Clove Holding Ltd. Craigmuir Chambers, P. O. Box71, Road Town, USD 10 USD 10 10 100.00 USD 59,968 USD 7,827 USD 7,827 Tortola, B. V. I. Hatsu Marine Limited 160 Euston Road, London NW 12 DX, U.K. USD 1,503 USD 1,503 765 51.00 USD 105,674 USD 10,532 USD 7,627 Evergreen Heavy Industrial Co. Lot 139, Jalan, Cecair, Phase 2 Free Trade Zone USD 27,295 USD 27,295 42,120 84.44 USD 36,371 USD 5,027 USD 4,792 (Malaysia) Berhad Johor Port Authority, B1700 Pasir Gudang, Johor, Johore Bahru, Malaysia PT. Multi Bina Pura International JL Raya Cakung Cilincing, RT, 002-05, Desa USD 20,204 USD 20,204 68 95.30 USD 9,518 USD 675 USD 644 Rorotan P.O. Box 6043 Jakarta 14260. Indonesla Lot 139, Jalan PT. Multi Bina Transport JL Raya Cakung Cilincing, RT, 002-05, Desa Rp 1,800,000 Rp 1,800,000 2 17.39 USD 185 USD 320 USD 56 Rorotan P.O. Box 6043 Jakarta 14260. Indonesla Lot 139, Jalan PT. Evergreen Marine Indonesia Gedung Price waterhouse coopers 9-10th USD 258 USD 258-25.44 USD 753 USD 1,237 USD 315 Floors Jl. H.R. Rasuna said kav. C-03 Jakarta 12920, Indonesia Luanta Investment (NetherLands) N.V. 21-A Van Engelenweg, Curacao, Netherlands, USD 21,973 USD 15,785-50.00 USD 17,788 (USD 4,157) (USD 2,079) Antilles Balsam Investment (NetherLands) N.V. 21-A Van Englenweg, Curacao, Netherlands, USD 50,715 USD 50,715-49.00 USD 184,387 USD 93,213 USD 45,674 Antilles 4049C12 () USD 6,635 USD 6,635-21.06 USD 8,143 USD 1,957 USD 385 USD 3,134 USD 3,134-55.00 USD 3,279 USD 133 USD 69 138 () USD 4,447 USD 4,447-40.00 USD 5,261 USD 1,256 USD 462 3403 () USD 1,199 USD 1,199-40.00 USD 2,473 USD 2,004 USD 802 287

94111231 / (%) Evergreen Container Terminal 33/4 Moo 1, Chaokhun Tahan Road, USD 28,636 USD 28,636 12,250 48.18 USD 18,439 USD 5,305 USD 2,556 (Thailand) Ltd. Sun District Klong 3, Lat Krabang District, Bangkok 10520 Evergreen Shipping (S) Pte. Ltd. 333 Jalan Besar, Singapore 209018 USD 219 USD 219 383 25.50 USD 1,198 USD 1,422 USD 363 Evergreen Star (Thailand) Co. Ltd. Green Tower, 24-25th Floors USD 238 USD 238 204 25.50 USD 734 USD 3,421 USD 872 3656/81 Rama IV Road Klongton Klongtoey Bangkok 10110 Evergreen Korea Corporation 15th Fl., Korea Express Center, 83-5, 4-Ka, USD 238 USD 238 61 50.00 USD 2,720 USD 1,780 USD 890 Jung-Ang Dong Jung-Ku, Pusan, Republic of Korea Armand Investment (Netherlands) N.V. VAN ENGELENWEG 21A CURACAO USD 1,750 USD 1,622 4 70.00 USD 1,700 (USD 114) (USD 80) Netherlands Antilles Evergreen India Pte. Ltd. J.N. HEREDIA MARG BALLARD ESTATE USD 12 USD 12 5 49.98 USD 29 USD 25 USD 13 MUMBAI 400 038, INDIA Evergreen Marine Australia Pty. Ltd. Level 13,181 Miller Street, North Sydney USD- USD- - 25.50 USD 245 USD 768 USD 196 NSW 2060 Australia 288

Greencompass Marine S. A. 941231 1. (1) 94.12.31 93.12.31 () () (IRS) USD 108,176 USD 598 USD - USD - (Foreign Exchange Option) EUR 3,000 USD - USD - USD - (2) (IRS) (Foreign Exchange Option) 289

(3) (IRS)(Foreign Exchange Option) (4) (5) 1) (IRS) 2) (Foreign Exchange Option) 2. 94.12.31 93.12.31 (IRS) USD - USD 126 USD - USD - USD 166 USD 166 USD - USD - 290

94111231 (1) (%) (2) 1. RMB271,565 () $196,275 $- $- $196,275 21.06 $12,360 $266,378 $- (Shanghai Jifa Logistics Co., Ltd. ) () (USD 6,000) (USD 6,000) (USD 385) (USD 8,143) 2. 1. RMB24,119 () 33,301 - - 33,301 40.00 $25,747 80,898 - (Ningbo Victory Container Co., Ltd. ) () (USD 1,018) (USD 1,018) (USD 802) (USD 2,473) 2. 1. RMB92,500 () 145,472 - - 145,472 40.00 $14,832 172,100 - (Qingdao Evergreen Container () (USD 4,447) (USD 4,447) (USD 462) (USD 5,261) Storage &Transportation Co., Ltd. ) 2. 1. RMB44,960 () 102,521 - - 102,521 55.00 $2,215 107,264 - (Shenzhen Greentrans (USD 3,134) (USD 3,134) (USD 69) (USD 3,279) Transportation Co., Ltd. ) 2. HKD92,000 () 26,598 - - 26,598 6.85-26,598 - (Shenzhen Hutchison Inland Container (HKD 6,304) (HKD 6,304) (HKD 6,304) Depots Co., Ltd. ) (3) $504,156 $1,095,368 (USD14,599) (USD 33,485) (HKD 6,304) $2,000,000 1,500,000 9,811,453 1 () () () () () 2 () () 1. 2. 3. 3 ($59,057,266) $13,311,453 291

292

94 93 % 16,177,619 28,747,380 (12,569,761) (43.72) 61,332,033 54,365,909 6,966,124 12.81 8,282,320 8,811,455 (529,135) (6.01) 758,623 806,513 (47,890) (5.94) 86,550,595 92,731,257 (6,180,662) (6.67) 14,353,095 17,319,942 (2,966,847) (17.13) 8,468,039 20,692,832 (12,224,793) (59.08) 3,003,467 2,441,938 561,529 23.00 25,824,601 40,454,712 (14,630,111) (36.16) 27,075,246 24,259,425 2,815,821 11.61 4,640,403 4,030,933 609,470 15.12 28,367,360 23,651,407 4,715,953 19.94 642,985 334,780 308,205 92.06 60,725,994 52,276,545 8,449,449 16.16 (1) (2) (3) 293

94 93 % 41,975,536 41,924,420 51,116 0.12 32,486,820 34,102,562 (1,615,742) (4.74) 9,488,716 7,821,858 1,666,858 21.31 2,695,367 2,734,209 (38,842) (1.42) 6,793,349 5,087,649 1,705,700 33.53 8,477,421 9,288,124 (810,703) (8.73) 604,980 772,292 (167,312) (21.66) 14,665,790 13,603,481 1,062,309 7.81 2,441,879 1,518,812 923,067 60.78 12,223,911 12,084,669 139,242 1.15 : (1) (2) (3) 294

1. (1) (2) (3) () (1)+(2)-(3) 4,171,007 20,396,925 19,866,692 4,701,240 1. (1) (2) (3) 2. 2. (1) (2) (3) ( ) (1)+(2)-(3) 4,701,240 2,263,777 1,885,475 5,079,542 295

93 94 95~99 93 1,193,454 745,408 94 1,011,518 1,011,518 95 3,989,119 3,989,119 TEU 947,683,397 296

1. 94 2. 94 297

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e-mail 299

1. (http://www.evergreenmarine.com/tw/) 2. 300

2004 20042005 S 2005 () 1. 94.1.1995.03.02 2. 95.03.02 3. 93.11.594.1.19 95.03.02 301

4. 94.1.1995.03.02 5. 94.1.1995.03.02 () (http://newmops.tse.com.tw) () () http://newmops.tse.com.twhttp://stock.evergreen.com.tw/ 302

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9471 94 () V ( ) 304

9471 305

1. 70% ARMAND N.V. 100% ARMAND B.V. 100% CLOVE 90% AMPLE 100% GMS 36% Whitney 100% VIGOR ISLAND 100% 100% EMC 100% PEONY 51% HML 15% Hemlock 84.44% EHIC (M) 55% 55% SGTC 95.3% MBPI 72.95% MBT TTSC 17.39% 306

EMC PEONY TTSC Peony Investment S.A. ARMAND N.V. ARMAND InvestmentNetherlandsN.V. ARMAND B.V. ARMAND Estate B.V. CLOVE AMPLE GMS VIGOR HML ISLAND Whitney Hemlock EHICM SGTC MBPI MBT Clove Holding Ltd. Ample Holding Ltd. Greencompass Marine S.A. Vigor Enterprise S.A. Hatsu Marine Limited Island Equipment LLC Whitney Equipment LLC Hemlock Equipment LLC Evergreen Heavy Industrial Corp.MalaysiaBerhad PT. Multi Bina Pura International PT. MULTI BINA TRANSPORT 307

2. (941231) Peony Investment S.A. 82/01/04 53rd Street,Urbanizacion Obarrio Torre Swiss Bank, 2nd Floor,Panama,Republic of Panama USD 476,500 86/12/27 1772 NTD 100,000 ARMAND Investment (Netherlands) N.V. 89/12/29 Van Engelenweg 21A,Curacao,Netherlands Antilles USD 6 ARMAND Estate B.V. 89/04/18 Hessenbergweg 111,1101BS Amsterdam Zuidoost EUR 20.42 Clove Holding Ltd. 89/11/16 Craigmuir Chambers,P.O.BOX71,Road Town,Tortola,B.V.I USD 10 Ample Holding Ltd. 90/01/22 Craigmuir Chambers,P.O.BOX71,Road Town,Tortola,B.V.I USD 10 Greencompass Marine S.A. 82/08/16 53rd Street,Urbanizacion Obarrio Torre Swiss Bank, 2nd Floor,Panama,Republic of Panama USD 353,500 Vigor Enterprise S.A. 87/11/26 53rd Street,Urbanizacion Obarrio Torre Swiss Bank, 2nd Floor,Panama,Republic of Panama USD 8,000 Hatsu Marine Limited 68/11/02 160 Euston Road.London Nw1 2dx,u.k. GBP 1,500 Island Equipment LLC 91/05/22 655 Deep Valley Drive, Suite 300, Rolling Hils Estates, CA USD 400 Whitney Equipment LLC 94/03/15 2711 Centerville Road, Suite 400, Wilmington, Delaware 19808 USD 200 308

Hemlock Equipment LLC 94/03/07 2711 Centerville Road, Suite 400, Wilmington, Delaware 19808 USD 200 Evergreen Heavy Industrial Corp. (Malaysia) Berhad 78/06/06 Lot 139, JALAN, Cecair Phase 2 Free Trade Zone,Johor Port Authority,81700 Pasir Gudang, Johor, Malaysia MYR 43,200 87/03/06 107, 108 RMB 44,960 PT. Multi Bina Pura International 81/09/10 Jl. Raya Cakung Cilincing Km.4, Jakarta Utara 14260, Indonesia USD 24,000 PT. MULTI BINA TRANSPORT 83/01/01 Jl. Raya Cakung Cilincing Km.4, Jakarta Utara 14260, Indonesia IDR 10,350,000 USD NTD = 1 32.7125 USD MYR = 1 3.7800 USD GBP = 1 0.5792 USD EUR = 1 0.8422 USD IDR = 1 9830 3. 4. 309

5. % Peony Investment S.A. Greencompass Marine S.A. Vigor Enterprise S.A. Clove Holding S.A. Ample Holding S.A. Director & President Director & Treasurer Director & Secretary Director & President Director & Treasurer Director & Secretary Director & President Director & Treasurer Director & Secretary Director Director Director Director Director & Chairman Maurice Storey Hatsu Marine Limited Director Director & President Director Director Director & Chairman Evergreen Heavy Industrial Corp.(Malaysia) Berhad Director & President Director Director Director Director 310

/ 5,500,000 55% () 1,200,000 12% () 2,200,000 22% () 5,500,000 55% () Armand Investment (Netherlands) N.V Armand Estate B.V Director Director Director / PT Multi Bina Pura Internation Mohamad Feriansyah Permadi Gunadi Widjaja 311

PT. MULTI BINA TRANSPORT / Mohamad Feriansyah Permadi Gunadi Widjaja Island Equipment LLC Whitney Equipment LLC Hemlock Equipment LLC President Secretary Treasurer President Secretary Treasurer President Secretary Treasurer 1 2 3 312

6. (941231) () ()() Peony Investment S.A. 15,587,506 41,507,868 9,771 41,498,097 6,796,170 6,715,164 6,892,332 1,447 Greencompass Marine S.A. 11,563,869 45,686,359 19,544,312 26,142,047 72,462,534 4,547,113 4,485,620 1,269 Vigor Enterprise S.A. 261,700 150,033 385 149,648 0-300 -2,958-37 Clove Holding Ltd. 327 5,544,632 3,582,931 1,961,701 515,980 304,464 251,780 25,178 Ample Holding Ltd. 327 1,687,215 1,027,462 659,753 262,515 256,367 256,367 25,637 Armand Investment (Netherlands) N.V. 196 79,650 196 79,454-3,127-3,729-3,729 Armand Estate B.V. 788 79,311 88,471-9,160-887 -3,075-3,178 Evergreen Heavy Industrial Corp. (Malaysia) Berhad 431,656 1,622,621 177,430 1,445,191 2,100,517 158,641 161,531 3 182,263 227,944 28,473 199,471 139,260 8,335 4,446 Hatsu Marine Limited 84,720 21,606,771 14,902,764 6,704,007 25,813,729 1,006,637 483,506 PT. Multi Bina Pura International 529,260 267,204 6,957 260,247 49,301 14,508 21,695 303 PT. MULTI BINA TRANSPORT 34,443 49,578 14,746 34,832 76,632 13,245 10,282 993 100,000 264,707 132,500 132,207 624,852-3,786-1,037-0.10 Island Equipment LLC 13,085 1,434,517 1,395,868 38,649 277,027-1,111 19,155 Hemlock Equipment LLC 6,543 2,591,008 2,574,450 16,558 255,602 16,126 9,848 Whitney Equipment LLC 6,543 1,096,331 1,082,022 14,309 123,062 12,693 7,637 1 2 USDNTD = 132.7125 132.168 IDRNTD = 10.0033278 10.003311 RMBNTD = 14.0538950 14.0861 MYRNTD = 18.6541005 18.4861 GBPNTD = 156.4797584 158.522 313

() 314

95413 9411941231 ( 1.2.3. 4. 5. 315

95412 316

1. 93 4,922,771,99694928 2,461,386,000941014 2. 25152325 1. 94321 946231631594 42562312 317

2. 94419 932 4,922,771,99612,461,386,000( 100) 3. 9454 318-Row16,800,000 524,286,000 4. 94525 54318-Row 16,800,00016,650,000 520,936,875 5. 94721 94826822826 826928 6. 9481 246,138,600 9482626.98 24.0726.8923.99 7. 941012 6941013 23.9921.68 318

8. 9531 (1) 5GREENCOMPASS MARINE S.A. US$8,000,000 US$7,000,000 US$7,000,000 US$7,000,000 US$8,000,000 US$37,000,000 (1,197,542,000@32.366) (2) 5 US$12,650,000 US$12,650,000 US$13,200,000 US$12,650,000 US$12,650,000 US$63,800,000(2,064,950,800@32.366) (3) 58,158,835 12697,906,020 9. 95323 956231631595 42562312 319

10. 95424 (1) 941.8 0.7(70) (2) (3) 7 320