Argosy Cruises

ARGOSY CRUISES’ LEADERSHIP CHANGE

SEATTLE -- John Blackman announced today he will be stepping down as General Partner of Argosy Cruises but will remain a Limited Partner in the company, effective Jan. 2, 2006.

Blackman has been General Partner of Argosy since 1993 and Owner since 1990. During Blackman’s tenure the Argosy fleet doubled in size and the number of passengers carried grew more than 300 percent.

Argosy Cruises has been a family-owned and locally-operated Seattle company since its inception, offering its guests public, private and dining cruises. The company has been operating in Puget Sound region for 56 years and carried more than 7 million people. Argosy employs 75 full time employees, 300 seasonal employees and generates more than $10 million in annual revenue.

Blackman announced Kevin Clark, an existing Argosy Limited Partner, will become General Partner in January 2006. Blackman said, “Kevin was one of the first people that Mary (Blackman’s wife) and I met when we moved to Seattle in 1987. He has been a good friend and business associate ever since.”

“This is the right time for someone younger and with more energy to take Argosy Cruises to the next level and I have complete confidence that Kevin and Cary ( Clark’s wife) will be able to accomplish that,” said Blackman. “We are pleased that Kevin and Cary will continue Argosy’s tradition of being family-owned and locally-operated.”

Clark is currently a partner at Von Harten & Company, Inc., a Seattle Certified Public Accountant firm specializing in closely-held companies and their owners. He was born and raised in Washington state, has been a CPA for 28 years and holds a bachelor’s degree in Business Administration from the University of Washington. Clark resides in Magnolia with his wife Cary and 3 sons.

Argosy Cruises