AHBF Farebox Recovery Ratio

I am happy to announce that the Alameda Harbor Bay Ferry (AHBF)
recovered approximately 46.34% of its operating costs from passenger
fares for the month of January 2006.

This marks the seventh straight month that the ferry has met or exceeded
key revenue requirements forcontinued Regional Measure 1 (RM1)
operating subsidies. To qualify for RM1 funding in FY 2006/07, the
ferry must average at least a 40% farebox recovery for the entire 2005/06
fiscal year. The average recovery rate for the first seven months of FY 2005/06
was approximately 45.8%.

Congratulations to our riders.

And thank you for your continued support.