Cue advert, all sepia and class, with familiar Continental art movie music. A man bearing a striking resemblance to Rene in 'Allo 'Allo crouches behind bar, dolefully surveying ruck going down on other side featuring snarling pink faces employing their limited foreheads for offensive purposes while other parts of them propel furniture and each other over prone figures slumped serially. A slogan appears: "Damage: reassuringly extensive."

All right, I agree, as a way of selling beer, it probably wouldn't work, on a number of levels. Even so, sadly, life has once again intruded upon commercial art. A lager long marketed on its exclusivity has been overtaken by a reputation for strength and a lack of, how shall we say, sensitivity and delicacy among its over- enthusiastic consumers. And sales are down. So the Stella Artois brewers have embarked upon a certain amount of repositioning, with less emphasis on Stella, more on the Artois range, and on a new corporate slogan, "Pass on something good", rather than the famous Stella legend, "Reassuringly expensive".

As you can see, I'm no advertising man, which must be why I misread the new slogan as an invitation to pass on the good stuff and drink Stella instead. I have trouble remembering the Seventies, but didn't they have a more snappy slogan then, "Stella's for Fellas"?

Perhaps not. I do have another idea, though. Cider has done very well, and avoided testosterone excess, by attracting female drinkers. How about, then, changing the name, to, say, Brad Artois?

* A $20.5M first mortgage and mezzanine financing was secured for a 400,000 s/f industrial warehouse in Brooklyn, NY.

* A $5.35M refinance of a multi-tenant strip center in Houston, TX. The loan featured a 10 year fixed term, with a 5 year I/O component and a rate of 5.86%.

* A $1.5M cash-out refinance of an owner occupied supermarket and restaurant in Turlock, CA.

Ship Finance International Limited (NYSE: SFL) ("Ship Finance" or the "Company") has employed Peter Lund as Commercial Director. He is expected to take up his position with Ship Finance in September 2008, and will be based in a newly established office in Singapore.

Mr. Lund is currently head of Maersk Brokers in Singapore, and has worked 15 years in the AP Moller group of companies in different geographic locations. He holds a Masters degree in Law from the University of Copenhagen.

Lars Solbakken, Chief Executive Officer in Ship Finance Management AS, said in a comment: "We are very pleased to have recruited Mr. Lund to become the new Commercial Director of our company. His broad international shipping background and detailed knowledge of several of our target segments will be very valuable for us as we continue our growth and diversification. We also expect that our new office in Singapore will increase our business volume in Asia."

August 7, 2008
The Board of Directors
Ship Finance International Limited
Hamilton, Bermuda

About Ship Finance

Ship Finance is a major ship owning company listed on the New York Stock Exchange (NYSE: SFL). Including newbuildings and announced acquisitions, the Company has a fleet of 71 vessels, including 33 crude oil tankers (VLCC and Suezmax), 2 chemical tankers, 8 oil/bulk/ore vessels, 13 container vessels, 3 dry bulk carriers, 6 offshore supply vessels and 3 seismic vessels, 2 jack-up drilling rigs and one ultra-deepwater drillship. The fleet is one of the largest in the world and most of the vessels are employed on long term charters.

More information can be found on the Company's website: www.shipfinance.org

Cautionary Statement Regarding Forward Looking Statements

This press release may contain forward looking statements. These statements are based upon various assumptions, many of which are based, in turn, upon further assumptions, including Ship Finance management's examination of historical operating trends. Although Ship Finance believes that these assumptions were reasonable when made, because assumptions are inherently subject to significant uncertainties and contingencies which are difficult or impossible to predict and are beyond its control, Ship Finance cannot give assurance that it will achieve or accomplish these expectations, beliefs or intentions.

Important factors that, in the Company's view, could cause actual results to differ materially from those discussed in this presentation include the strength of world economies and currencies, general market conditions including fluctuations in charter hire rates and vessel values, changes in demand in the tanker market as a result of changes in OPEC's petroleum production levels and world wide oil consumption and storage, changes in the Company's operating expenses including bunker prices, dry-docking and insurance costs, changes in governmental rules and regulations or actions taken by regulatory authorities, potential liability from pending or future litigation, general domestic and international political conditions, potential disruption of shipping routes due to accidents or political events, and other important factors described from time to time in the reports filed by the Company with the United States Securities and Exchange Commission.

Commercial Coatings (CCSI) named Ron Raphoon branch manager of the Bakersfield, CA office where he will oversee management, processes and procedures at the custom-coating site.

There are many issues to consider before you start collecting commercial accounts

If you collect on consumer accounts, can you easily collect on commercial accounts? Not necessarily Although consumer and commercial collections have many similarities, they also have many differences. Understanding these differences will help you learn how to best collect on the account depending on the type of debtor: consumer or business.

First, it's important to know the basic difference between a consumer account and commercial account. This can be seen in the origin and purpose of the debt. Consumer or retail claims arise from sales made to or services performed for an individual or an individual's family. The Fair Debt Collection Practices Act (FDCPA) defines consumer debt as "any obligation or alleged obligation of a consumer to pay money arising out of a transaction in which the money, property, insurance or services which are the subject of the transaction are primarily for personal, family or household purposes, whether or not such obligation has been reduced to judgment."

In commercial claims, the purchaser (a corporation, partnership or sole ownership operation) buys for the purpose of a resale and with the view of making a profit. The purchaser buys material or services from firms that deal in raw material, from manufacturers or wholesalers, or from firms that furnish services to other companies. In other words, the debt does not satisfy the needs of an individual or family, but rather the needs of a business.

The International Association of Commercial Collectors (TACC) describes a commercial claim as a debt arising "from an obligation to pay for goods sold or leased, services rendered or monies loaned for use in the conduct of a business or profession, and not for personal consumption."

There are many benefits to adding a commercial component to a consumer agency.

"We do both: 25 percent consumer and 75 percent commercial," said Jan Hazes, a director on the IACC board and president of Hakort International Inc. "The number of consumer accounts is far greater than the commercial accounts, but the amount owed on the commercial accounts is much higher. Also, the commercial debtors are easier to trace and in general it's easier to collect. If you have a small to medium agency, it is hard to handle a lot of small consumer claims so a good mix of commercial clients and a select number of consumer clients can be healthy for your business."

Once the differences in the origin and purpose of consumer and commercial debts are identified, you can better determine how to handle the commercial account.

Speed of Collection

Time is of the essence with commercial accounts, as they must be collected more quickly than consumer accounts. With consumer debt, often a payment plan can be made to recover the monies due; however, this generally is not preferable for commercial collections.

Because a company in debt could potentially go out of business and cease to exist, it's imperative to collect the debt as soon as it's turned over to the collection agency. Immediate contact with the debtor is necessary to determine the likelihood of collection. If it's not likely the debt will be collected, the creditor may wish to pursue legal action before assets are liquidated and the business is dissolved.

Businesses in financial trouble can run through assets very quickly, especially if the debtor company is going out of business and other creditors are asking for payment as well. Therefore, prompt attention to a commercial claim is essential. The faster you act, the more likely the debt will be recovered. In general, commercial debt tends to be more collectable than consumer debt.

Accessibility

Generally, commercial debtors are easier to locate and contact than consumer debtors. Individuals can move around, change names, change jobs and change spouses. While some shady businesses have been known to "disappear," for the most part a legitimate business is easy to locate and contact. In theory, commercial debt should also be easy to verify as there are usually signed purchase orders, contracts, bills of lading and other documents. Depending on the client's recordkeeping, however, these essential documents may not always be available.

Importance of Reporting

Not only is the reporting process important to the creditor, it's important to the agency as well.

The creditor's request for a report is essential to solve very practical problems faced by the credit manager or fiscal officer. Every creditor has the right to expect timely reports throughout the course of collection activity. If other creditors are compromising an account or if the debtor is in danger of closing or selling out, the client is entitled to this information and the agency's advice and recommendations.

Reporting benefits the creditor and is equally important for the agency, both as a business tool and as a way to maximize efficiency. Aside from a remittance check, what better pitch for additional business is there than a well-written and substantive report? A salesperson tells the prospective client what you will do, a check tells the client what you have done, but a report tells the client what you are doing today.