Under the terms of the new Contract of Affreightment, the company made a payment to its shipper of US$6.85 million, of which US$500,000 was payable immediately and the balance will be paid, with interest at 7.5 percent per annum, under the terms of a secured credit facility maturing in 2017. The agreement allows Polaris to repay amounts outstanding at any time without penalty.

This financial summary should be read in conjunction with the company’s Dec. 31, 2009 Consolidated Financial Statements and Management’s Discussion and Analysis, both of which are available on www.sedar.com.

Conference Call

The company will host a conference call at 8:00 a.m. PDT on Tuesday, March 30, 2010. Investors and other interested parties may access the teleconference live by calling 888-231-8191 in North America or 647-427-7450 internationally.

A live Webcast of the conference call will be available at www.newswire.ca/en/webcast/viewEvent.cgi?eventID=3001680 andwill be archived for 90 days following the call.

The conference call will be recorded and available for replay at 11 a.m. PDT and will be available until April 13, 2010. To access the replay, dial 1-800-642-1687. The access code to hear the recording is 63940797.