News Release

Argentina has selected US-based seabed survey company Ocean Infinity to
bolster the search for the nation’s submarine ARA San Juan (S-42).

The Argentine Ministry of Modernisation (Ministerio de la Modernización)
accepted Ocean Infinity’s USD7.5 million bid on 6 August to assist the search,
according to an acquisition order posted on the government agency’s website.

The Argentine government has yet to confirm the contract, which reportedly
has a duration of four months.

Ocean Infinity was involved in the unsuccessful search for Malaysia Airlines
flight MH370.

San Juan and its crew of 44 disappeared on 15 November 2017 in the South
Atlantic.

COMMENT: This is going to be very challenging with the wreckage possibly
as deep as 3000m (9800-feet) in an area with an irregular bottom crossed
west-to-east by major canyons.