FOR IMMEDIATE RELEASE

Contact:     Silke Sommerfeld, Marketing Manager

Albacore Research Ltd.

+1-250-479-3638 ext. 110

Marketing@ShipConstructor.com

Victoria, BC - February 9, 2005

The development of key features in ShipConstructor will be funded by the Second-Tier Shipyard Design Enhancement Project II, which recently received significant funding from the National Shipbuilding Research Program (NSRP) Advanced Shipbuilding Enterprise. The project, headed by Bender Shipbuilding & Repair Co., Inc., includes seven shipyards and four naval architect firms, representing the core of second-tier shipbuilding and ship design in the United States.

The overall goal of the project is to provide U.S. second-tier shipyards with a state-of-the-art design system that will enhance their global competitiveness. Albacore Research Ltd. (ARL) will extend ShipConstructor’s capabilities to fully meet the design requirements of the U.S. second-tier shipyard industry. Specific features to be developed include integration with the Common Parts Catalog and the ability to Split and Merge Projects.

The Common Parts Catalog, developed by the U.S. first-tier yards, standardizes the definition of purchased part data and related support documents. Provisions for equivalency allow yards to exchange data efficiently, and facilitate the ability to communicate and even utilize parts in stock at other yards. Integrating ShipConstructor with the Common Parts Catalog streamlines the material control system from definition to delivery of the finished product, and even during product lifecycle management.

The ability to split and merge ShipConstructor projects will enable collaboration among shipyards and design agents working on a single project in multiple locations, simplifying outsourcing and sub-contracting. Even in mid-project a yard can sub-contract part of the work and still remain in full control should their own resources not be sufficient.

Patrick Roberts, Research & Development Manager at Bender Shipbuilding and Repair Co., Inc., said “We are proud to have once again assembled leading shipyards and designers to collaboratively participate in the development of software features that meet the needs of the U.S. shipbuilding industry.”

“This initiative will not only make it easier for North American shipyards and designers to work together, but it will also make the North American shipbuilding industry more competitive internationally,” said Rolf Oetter, president of ARL.

About Albacore Research Ltd. (ARL) and ShipConstructor

Albacore Research Ltd. (ARL) is the creator of ShipConstructor, the easy-to-use, AutoCAD based 3D Product-Modeling software for the design and fabrication of ships and offshore structures.

ShipConstructor is proving its capabilities on a wide range of new construction, conversion and repair projects, including the US Navy’s Littoral Combat Ship, the US Coast Guard’s Deepwater Project and the Devils Tower Spar. More than 150 yards and designers worldwide, among which you find well-known names such as Northrop Grumman Ship Systems, Gibbs & Cox, and Dubai Drydocks, trust ShipConstructor with their projects.

ShipConstructor provides functions for curved plates, structure, pipe, HVAC, equipment, and NC-processing and also generates sophisticated production documentation, including assembly drawings, pipe spools, and production reports.

For further information regarding ARL and its ShipConstructor software please visit www.ShipConstructor.com.