Marine Growth Ventures, Inc. Announces Agreement with Port of Corpus Christi to Operate Ferry Service to Mexico

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Port of Corpus Christi Commissioners approve the execution of a letter of intent with Sophlex Ship Management, Inc. to offer cruise ferry service to the Port of Veracruz, Mexico.

Cape Canaveral, FL (PRWEB) October 12, 2004 – Frank Crivello, Founder, Marine Growth Ventures, Inc. (“MGV”) announced on April 19, 2004 that MGV retained TD Ventures, LLC to pursue transportation opportunities between Texas and Mexico. Today Timothy Levensaler, MGV’s Chief Operating Officer announced its effort with TD Ventures, LLC came to fruition and it obtained approval from the Port of Corpus Christi Commissioners,, to provide ferry services to Veracruz, Mexico. Sophlex Ship Management, Inc., (“Sophlex”) is a wholly owned subsidiary of MGV.

“We’re excited by the opportunity to develop cruise ferry operations in Corpus Christi, Texas and look forward to a long and successful partnership with the Port of Corpus Christi,” said Frank P. Crivello, MGV’s Founder. MGV’s Chief Operating Officer Timothy Levensaler stated: “Craig Hodgkins, MGV’s President, and I long ago concluded that a ferry business based in the Port of Corpus Christi held great promise. Furthermore, the Executive Staff at the Port of Corpus Christi have been great to work with on this project. “

The Port of Corpus Christi has sought the development of a cruise-ferry service between Corpus Christi and Southern Mexico for the past two years. Sophlex plans a twice-weekly service between Corpus Christi and Veracruz, Mexico. The service will provide an alternate form of transportation to and from Mexico for passengers, vehicles and cargo.

The project has the support of BTT, a major Mexican tour company, the Port of Veracruz, Mexico’s National Tourism Department, Corpus Christi CVB, San Antonio CVB, Austin CVB and the State of Texas Department of Economic Development and Tourism. Sophlex will operate two sailings per week from the Port’s Congressman Solomon P. Ortiz International Center with approximately 98 sailings per year. “The economic impact of MGV’s operation to the Port and Texas will be substantial, not to mention the benefits from the cultural and educational exchange,” said Ruben Bonilla, Chairman of the Port of Corpus Christi.

About Marine Growth Ventures, Inc. (“MGV”)

MGV’s mission is to find, develop, and place in service operating businesses related to our oceans; our vision is to build successful businesses while respecting and protecting our most important environmental resource - our oceans. MGV is uniquely positioned to find, analyze, and execute on marine related opportunities in transportation, freight, finance, brokerage, real estate, gaming, and entertainment.

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 MGV 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 MGV's operations or business.



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