Forum for Shareholders of Crowley Maritime Corporation

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Resolution of Shareholder Interests

In March 2007, the controlling shareholder of Crowley Maritime offered $2,990 per share to buy out public investors, a price equal to 258% of the last traded price of shares when the Forum started in April 2004.

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Letter Inviting Management Participation in Forum

(April 26, 2004)

Copied below is the text of a letter sent on April 26, 2004 to the chairman of Crowley Maritime's of directors, inviting management participation in the Forum initiated to address the interests of company shareholders.

The letter was accompanied by a "Forum Summary," and a copy of the Forum's "Conditions of Participation" was provided to the company when it became available two days later.



Lutin & Company
575 Madison Avenue
New York, New York 10022
Telephone (212) 605-0335
Facsimile (212) 605-0325
                                                             April 26, 2004


By telecopier: 510-251-7601


Mr. Thomas B. Crowley, Jr.

Crowley Maritime Corporation

155 Grand Avenue

Oakland, California 94612



Dear Mr. Crowley:


            As indicated in my telephone message, I will be conducting a “Forum” for shareholders of Crowley Maritime Corporation, as described in the accompanying summary, and will welcome any questions you may have about it.


            I hope you and other members of the company's board of directors will participate actively, and will also welcome the involvement of any company employees.  It should be emphasized that the Forum is open to all shareholder interests, including the beneficiaries of trusts or employee pension plans that hold shares.  Anyone providing me with an email address will be included in Forum distributions.


            As we proceed, I will submit information requests to you unless you direct me to someone else.  It should be understood that any information requested from the company would be for possible use by Forum participants in their investment decisions.  In this context you should know that I have no ownership interest in any securities of Crowley Maritime Corporation, and that I will not be soliciting proxies.  I therefore assume that you and your colleagues will give me the same information you would give anyone else who asks the same question, without preferential treatment of either.  It is not my intention to seek confidential information, and I will expect as well as respect your advice if any of my inquiries cannot be answered for that reason.


            Please feel free to call me about anything relating to the Forum.  I'll welcome your suggestions to make the program as valuable as possible to the company’s directors as well as to its shareholders.


                                                            Sincerely yours,




                                                            Gary Lutin



[Forum Summary]



The Forum is open to all Crowley shareholders, whether institutional or individual, and to any fiduciaries or professionals concerned with their investment decisions.  Its purpose is to provide shareholders with access to information and a free exchange of views on issues relating to their evaluations of alternatives, as described in the Forum Summary.

There is no charge for participation.  As stated in the Conditions of Participation, participants are expected to make independent use of information obtained through the Forum, subject to the privacy rights of other participants.  It is a Forum rule that participants will not be identified or quoted without their explicit permission.

Inquiries and requests to be included in the Forum's distribution list may be addressed to

All material on this web site is published by Gary Lutin, who is responsible for conducting the Forum.