Dear Participant: We are pleased to present SUP Welfare Plan's Summary Plan Description describing the benefits provided by the SUP Welfare Plan. The Plan was established in accordance with Collective Bargaining Agreements between the Sailors' Union of the Pacific and participating employers.

The Plan Description furnishes a brief description of the benefits to which you and your family are entitled, the rules governing these benefits, and the procedures that should be followed when making a claim. This booklet includes certain information concerning the administration of the Plan as required by the Employee Retirement Income Security Act of 1974. We urge you and your family to read this booklet thoroughly so that you will be familiar with the benefits of the Plan. We are pleased to present this booklet describing the benefits provided by the SUP Welfare Plan.

Welfare Notes - April 2007

New Investment Options in Money Purchase Pension Plan and 401(k) Plan

Seminars were conducted at all branches and Headquarters in the month of March in line with the substantial plans improvements effective April 2nd of self-direction in the Money Purchase Pension Plan and new investment options available in both that plan and the 401(k) Plan. Plans Administrator, Michelle Chang, was accompanied on these visits by the Director of MasterPlan Advisory Services, Todd Smithpeter. The turnout of plans participants and questions asked were excellent.

For those of you who may not have had an opportunity to attend, Investment Choices Selection Forms are available online at www.masterplanretirement.com, at the union halls and at the Plans office as well.

You may make changes to your investment portfolios at any time. Forms may be submitted by mail to MasterPlan Services P.O. Box 1800, Portland, OR 97207, by fax Attn: MasterPlan Services, Trade Execution at 503-241-8148 or scanned forms may by e-mailed to masterplan@dpanet.com. Questions should be directed to MasterPlan Customer Service at 800-547-4334.

No action is necessary for either plan if you do not wish to make changes in your investment accounts.

E-mail Addresses

Michelle Chang, Administrator: mcsupsiupd@sbcglobal.net
Patty Martin: martinpatty59@sbcglobal.net
Virginia Briggs, Claims: vbriggs80@sbcglobal.net
Michael Jacyna, Eligibility: mjacyna67@sbcglobal.net
Terry O’Neill, Training Representative: terenceo@gmail.com

SUP Welfare Plan

Phone Numbers: 415-778-5490 or 1-800-796-8003
Fax: 415-778-5495
Training Representative Terry O’Neill 415-957-1816
SIU-PD Pension 415-764-4987
SIU-PD Supplemental Benefits 415-764-4991