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GNL Construction Progress Update

April 19, 2007

As of April, 2007, construction of the GNL facility is approximately 55% completed. The project remains within budget and with only a minor slippage in schedule, due in large part to weather.

The building should be substantially ‘dried in’ (95% weatherproofed) by the end of June, with the exterior of the facility completed by September, 2007. The steps required to reach that point include having operable freight elevators, which should be installed in June, as this will allow workers to take down the temporary external elevator and to finish adding the pre-cast concrete panels and window/glazing systems to the exterior. Also, as part of the exterior completion, rooftop exhaust fans and other roof items need be fully installed to allow the permanent roof to be completed. In the interim, the roof has been temporarily dried in to prevent water intrusion. The permanent roof should be completed in the August-September 2007 timeframe. Meanwhile, interior work including installation of wiring, plumbing, air ducts, filtration units and air handlers is progressing on schedule.

The large, highly visible crane that has been used for the past year will be demobilized after the roof construction and the building exterior are complete (last quarter of 2007). Substantial completion of the facility is expected to occur prior to mid-July, 2008.

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