facilities, at Newhaven, to Societe D'Economie Mixte Locale De Cooperation Transmanche, a French company. Sea Containers' subsidiary Ferry and Port Holdings signed the agreement on April 11.

The parts sold are the east quay, adjacent land and buildings, harbour authority rights and the outer harbour of the port and the agreed price is $22 million . Ferry and Port Holdings will retain the west quay and north harbour, but all ships and boats using the port will pay access charges to the new company.

Also announced is that Hoverspeed, another Sea Containers' subsidiary, has signed an access agreement with respect to the ferry berths and ferry terminal at Newhaven for its fast ferries. It has also signed an agency agreement to represent Transmanche for passengers, cars and caravans to be carried aboard Transmanche ships between Newhaven and Dieppe, the route operated by hoverspeed.

James Sherwood, president of Sea Containers, said Hoverspeed looked forward to cooperation with Transmanche in developing the route. He also indicated that Ferry and Port Holdings would continue to improve the west quay marina, complete the residential housing development now under construction and increase north harbour activity in the bulk materials sphere.