News

Dear Passenger

As publicly known, over the last few months, a series of events have caused oil prices to skyrocket to absolutely unpredictable levels worldwide. Such increase has had a strong impact over the transportation industry putting up operation costs. According to the foregoing, we have been forced to raise by US$30 per passenger, from November 7, 2005, the rates of the ticket contract only for the Patagonian Channels route, since such rates were set more than one year ago, when an increase of oil prices like the one we’ve had to face was unthinkable. It must be noted that this increase shall become effective for all reservations made from above mentioned date, and all those reservations made prior to that date shall remain at the same price as when they were made.

Please find attached to this letter the new effective rates for current 2005-2005 season for aforesaid route.

We greatly appreciate your preference, understanding and apologize for any inconvenience caused by this fact that goes beyond our will. Sincerely,

Manfred Raurich G.
Commercial Manager
Naviera Magallanes S.A.