Panama Canal Expansion Awarded Most Significant Construction Project in the World

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PANAMA CITY, Panama, March 6, 2008 - The Republic of Panama has received the prestigious Samoter 2008 International "Most Significant Project in the World" award for the Panama Canal Expansion Program.

The Samoter International award honors those that contribute to the development of construction at both national and international levels, through significant works and technologically advanced projects. The official ceremony and presentation took place yesterday in Verona, Italy, where the Panama Canal Authority (ACP) Administrator/CEO Alberto Alemán Zubieta was presented with the award. "We are honored by this recognition and I share this with the best asset of the Canal - our hard-working world-class work force. We are making great progress with the Panama Canal Expansion Program and look forward to its continued success," said Mr. Alemán Zubieta. Expansion will build a new lane of traffic along the Panama Canal through the construction of a new set of locks, which will double capacity and allow more traffic and longer, wider ships.

 The Samoter International award is a highly-regarded and sought-after global honor assigned by VeronaFiere since 1973 to distinguished figures whose work on behalf of development and success in building and site activity, have helped consolidate major entrepreneurial systems on an economic and social scale. The Award may be granted to a country, a public or private company or a machine builder or draftsman.

About the Panama Canal AuthorityThe Panama Canal Authority (ACP) is the autonomous agency of the Government of Panama in charge of managing, operating and maintaining the Panama Canal. The ACP is governed by its organic law and the regulations approved by its Board of Directors. For more information, please refer to the Panama Canal Authority's Web site: http://www.pancanal.com/. For Panama Canal video, please visit http://www.thenewsmarket.com/panamacanal.