This report reflects site conditions as of February 2002. The conclusions and recommendations contained in this report are based upon professional opinions with regard to the subject matter. These opinions have been developed in accordance with currently accepted standards and practices applicable to the site location, and are subject to the following inherent limitations:

• The data and findings presented in this report are valid as of the dates when the investigation was performed (November 2001 through February 2002). The passage of time, manifestation of latent conditions or occurrence of future events may require further exploration at the site, analysis of data, and re-evaluation of the findings, observations, and conclusions expressed in the report.
• The data reported and the findings, observations, and conclusions expressed in the report are limited by the scope of work. The scope of work was defined by the request of the client.
• Because of the limitations stated above, the findings, observations, and conclusions expressed by SEACOR in this report are not, and should not be, considered an opinion concerning the compliance of any past or present owner or operator of the site with any federal, provincial or local law or regulation.
• No warranty or guarantee, whether express or implied, is made with respect to the data or the reported findings, observations, and conclusions, which are based solely upon site conditions in existence at the time of investigation.
• SEACOR Phase 1 Environmental Site Assessment (ESA) reports present professional opinions and findings of a scientific and technical nature. While attempts were made to relate the data and findings to applicable environmental laws and regulations, the report shall not be construed to offer legal opinion or representations as to the requirements of, nor compliance with environmental laws, rules, regulations or policies of federal, provincial or local governmental agencies. Any use of the Phase 1 ESA report constitutes acceptance of the limits of SEACOR's liability. SEACOR's liability extends only to Stewart McKelvey Stirling Scales and their client, Sydney Steel Corporation, and not to any other parties who may obtain the Phase 1 ESA report.