James Jenkins, Chief Executive Officer of the Company, stated, “In our bulk liquid storage business we have maintained our storage utilization rate at an exceptional 96%. Additionally, our current expansions are progressing timely and on budget, and should begin producing revenue streams in the later part of 2011.”

First Quarter 2011 Terminals Sector Highlights:

• In 2010, several construction projects began, including four tanks at our Houston 1 terminal totaling approximately 4.2 million gallons of capacity in the aggregate, four tanks totaling approximately 2.5 million gallons of capacity in aggregate at our Houston 2 terminal, and nine stainless steel tanks totaling approximately 4.2 million gallons of capacity in the aggregate at our Amsterdam, Netherlands terminal. All of these projects are on schedule and on budget for completion in the latter half of 2011. These constructions projects are in line with our strategy to focus on increasing our storage capacity in key markets that enhance our scope of service offerings.   
• In February 2011, construction began on four additional tanks at our Houston 1 terminal totaling approximately 4.2 million gallons of capacity in the aggregate, as well as two new dock lines. Completion of this project is expected in the latter half of 2011. Upon completion of this project, the Houston 1 facility will have a total capacity of approximately 66 million gallons.   
• Global storage tank utilization continues to remain high at 96%.  

Compared to Q1 2010 results, in the bulk liquid storage business, net revenue remained relatively consistent at $22.8 million for the first quarter of 2011 versus $22.9 million for the first quarter of 2010. Our total bulk liquid storage capacity (net of disposals and not including construction in progress) remained consistent at approximately 352 million gallons. 

Flood Conditions on the Mississippi and Ohio Rivers

We have several facilities serving both our liquid feed supplements and bulk liquid storage businesses which have been minimally affected by the recent flooding along the Mississippi and Ohio rivers. We have taken steps to protect our assets and those of our customers, and we do not expect the costs of these activities to be material to the operations of the Company. In keeping with our risk management process and standard operating procedures, the Company is insured for casualty events, and we have taken appropriate steps to secure our facilities from damage. To date, our facilities have not sustained any damages other than some disruption of ingress and egress at a few locations. Additionally, our broad geographic footprint allows us the flexibility to shift production and distribution to non-affected facilities. The crest has passed Memphis, TN as of this date. The only facility we have south of Memphis, along the river, is located in Port Allen, LA, where we expect the river to crest in the next few days. The estimation of the cresting date has been adjusted due to the opening of the Morganza Spillway, which is located on the river north of our Port Allen facility. The opening of the spillway represents a significant development, since it should reduce the ultimate cresting at Port Allen as well as lower the pressure on the surrounding levees. In cooperation with the Coast Guard and local authorities, we have closed our Port Allen dock operations to barge traffic temporarily and do not anticipate that our land operations will be affected at that terminal facility.