Frank Crivello, Eastern Coast Management, LLC announces Completed Purchase of M\V Surfside Princess

 Cape Canaveral, Florida — May 5, 2003 — Eastern Coast Management, LLC (“Eastern Coast”) announced today that W-C Vessels, LLC, a single asset entity it created and owns equally with an investor, acquired the M\V Surfside Princess from President Riverboat Casino-New York, Inc.

Eastern Coast Managing Member Frank Crivello stated: “We are excited to have closed on our purchase; we will move quickly to rehabilitate the vessel and put it back into service. We are negotiating with several prospective charter parties.” W-C Vessels, LLC financed its purchase with a preferred ship’s first mortgage from Sea Diamond Investors, LLC.

About Eastern Coast Management, LLC www.ecmgt.net:

Eastern Coast is focused on real estate and marine investments in the southeastern United States. For approximately twenty five years, as principals, Eastern Coast's team has been involved in all facets of real estate development, rehabilitation, and investments. In addition, Eastern Coast's team has offered professional management and advisory solutions to public and private companies, trusts, and individual investors. For approximately six years, as advisors or principals, Eastern Coast's team has been involved in marine investments of various types.

Safe Harbor Statement Under the Private Securities Litigation Act of 1995 - With the exception of historical information, the matters discussed in this press release are forward-looking statements that involve a number of risks and uncertainties. The actual future results of the Eastern Coast could differ significantly from those statements. Factors that could cause or contribute to such differences include, but are not limited to assumptions relating to the marine market and that there will be no unanticipated material adverse change in Eastern Coast's operations or business.

Contact:
New-School Communications, LLC
Blois Olson, 651-221-1999
www.new-school.com

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