But it sees no point in spending billions on a completetakeover at this stage because it holds the option to aquirePostbank outright in a few years under a deal finalised inJanuary, the source said. In the case of the cancelled newbuildvessel, the relevant charterer has agreed in principle to vesselsubstitution subject to final documentation. In the case of the postponednewbuild vessel, the relevant charterer has agreed to postponed deliveryduring 2012 with a decrease in the gross daily charter rate from $40,000to $38,000.In addition, the Company announced that it has agreed to accept delayeddelivery of one Post-Panamax class newbuild from 2010 to a later datebetween June and August, 2011, subject to final documentation. The Company’s common stock is listed on the NYSE where it tradesunder the symbol “SB.” The Company’s subsidiaries currently own 13Japanese-built drybulk vessels, all built post 2003, and have contractedto acquire additional drybulk newbuild vessels to be delivered at varioustimes through 2011.Forward-Looking StatementsThis press release contains forward-looking statements (as defined inSection 27A of the of the Securities Exchange Act of 1933, as amended, andin Section 21E of the Securities Exchange Act of 1934, as amended)concerning future events, the Company’s growth strategy and measures toimplement such strategy; including expected vessel acquisitions andentering into further time charters. Words such as “expects,” “intends,”"plans,” “believes,” “anticipates,” “hopes,” “estimates,” and variationsof such words and similar expressions are intended to identifyforward-looking statements.

Although the Company believes that theexpectations reflected in such forward-looking statements are reasonable,no assurance can be given that such expectations will prove to have beencorrect. These statements involve known and unknown risks and are basedupon a number of assumptions and estimates which are inherently subjectto significant uncertainties and contingencies, many of which are beyondthe control of the Company. Actual results may differ materially fromthose expressed or implied by such forward-looking statements. Factorsthat could cause actual results to differ materially include, but are notlimited to changes in the demand for dry bulk vessels, competitivefactors in the market in which the Company operates, risks associatedwith operations outside the United States and other factors listed fromtime to time in the Company’s filings with the Securities and ExchangeCommission.

The Company expressly disclaims any obligations orundertaking to release publicly any updates or revisions to anyforward-looking statements contained herein to reflect any change in theCompany’s expectations with respect thereto or any change in events,conditions or circumstances on which any statement is based.For further information please contact:Company Contact:Dr. Loukas BarmparisPresidentSafe Bulkers, Inc.Athens, GreeceTelephone: +30 (210) 899-4980Fax: +30 (210) 895-4159E-Mail: Investor Relations / Media Contact:Ramnique GrewalVice PresidentCapital Link, Inc.230 Park Avenue, Suite 1536New York, N.Y. 10169Tel.: (212) 661-7566Fax:(212) 661-7526E-Mail: Copyright 2009, Market Wire, All rights reserved.-0-. DUBAI (Reuters) – Lebanese fashion designer Walid Atallah did not make sales for the first four months of the global credit crisis, but business has resumed as clients continue to crave luxury brands, and cost is no object. Russia”In the beginning my clients used to complain to me about how much money their husbands have lost during the crisis … but now if ladies don’t wear beautiful dresses they aren’t ladies,” Atallah, said at the Reuters Global Luxury Summit in Dubai.Atallah, who makes most of his profits from wedding dresses, said sales in June alone are up about 25 percent compared to June last year, as couples look to get married before the Islamic fasting month of Ramadan begins in August.Atallah is established on the international fashion circuit holding shows in Paris, Italy and the Gulf Arab region.

His work includes haute couture, jewelry and wedding dresses with some priced as much as $1.2 million.He will be making his first appearance at Couture Fashion Week in New York this September as he looks to tap into new marketsAtallah, who designs clothes for royalty and celebrities, has no plans to sell his luxury clothes to the masses and lowering costs due to the financial downturn is not an option.”They don’t want me to make lower prices … she doesn’t want another woman who has less money to wear it,” he said.”Most of the ladies, if they see some star wearing the dress and have a nice body and a nice look, they want to be same … it would be walking advertising.”Prices for dresses start at 70,000 dirhams ($19,060) and he sells on average 400 dresses a month, 150 of which are wedding dresses and the remainder party dresses.Jeans and tops sell for a minimum 10,000 dirhams and his profit margin for most items is around 20 percent, he said.The most expensive dress he sold was an emerald and diamond dress in 2004, which went for $1.25 million, he said, declining to say who the buyer was.Jewelry DOWNWhile his customers are willing to keep buying expensive dresses, spending on jewelry has dropped as the financial downturn hits their pockets.”Now the jewelry market is down for me … ladies are asking for small jewelry sets and not big ones.”"Before they were asking for 7 million dirhams, 6 million dirhams … ALEXANDRIA, Va., June 8 /PRNewswire-USNewswire/ — CNA announced today thatDr Katherine A W. McGrady, formerly executive vice president and director ofResearch, is the company’s first chief operating officer, effectiveimmediately.Continuing to report to President and Chief Executive OfficerRobert J. Murray, McGrady is responsible for the execution of CNA’s strategyand business processes, assuring consistency of policy and approach across theorganization, and maintaining an environment of accountability and highperformance.”Katherine’s in-depth knowledge of the research, culture and businessoperations at CNA perfectly positions her for her new role as COO,” saidMurray.”She’ll bring increased focus to our business processes andoperations, and ensure that we continue to deliver the outstanding researchour clients have come to expect from CNA.” McGrady began her career with CNA as an analyst in 1988, having received herPh.D.

in Polymer Chemistry from the University of Michigan.She served as afield representative to the Commander of Marine Forces Central Command andCommander, I Marine Expeditionary Force in the Persian Gulf during the firstIraq war (Desert Shield and Desert Storm).She also deployed as part of the Unified Task Force to Mogadishu, Somalia.Subsequent assignments led to her selection as vice president and director,Integrated Systems and Operations (ISO) Division and director, Marine CorpsProgram.In 2004, she became the senior vice president for Research and, in2006, executive vice president. CNA is a not-for-profit research organization which serves the public interestby providing in-depth analysis and results-oriented solutions to helpgovernment leaders choose the best course of action in setting policy andmanaging operations. CNA: Nobody gets closer — to the people, to the data, tothe problem. Custer, Vice President, Communications and Public Affairs,+1-703-824-2100 O, +1-703-585-6827 C, . * To give 0.50 Silvercorp share for each Klondex shr Stocks  |  Mergers & Acquisitions * Offer represents about C$2.18 per Klondex shr * Offer at 59 pct premium to Friday’s close * Sees deal to enhance NAV per share June 8 (Reuters) – Silvercorp Metals Inc (SVM.TO) offeredto buy mineral resources company Klondex Mines Ltd (KDX.TO) forC$2.18 per share, or about C$70 million, ($62.2 million) in astock deal to enhance its resource base and financial strength. Silvercorp offered 0.50 of its common share for eachKlondex share, valuing Klondex stock at C$2.18 based onSilvercorp stock’s closing price on Friday. The offer represents a premium of 59 percent to Klondexshares’ Friday’s close on the Toronto Stock Exchange.