Common use of FORM OF NOTICE OF CONVERSION Clause in Contracts

FORM OF NOTICE OF CONVERSION. To: American Classic Voyages Co. The Bank of New York, as Conversion Agent The undersigned owner of this Debenture hereby irrevocably exercises the option to convert this Debenture, or the portion designated, and directs that the shares issuable and deliverable upon conversion, together with any check in payment for fractional shares, be issued in the name of and delivered to the undersigned, unless a different name has been indicated in the assignment above. If shares are to be issued in the name of a person other than the undersigned, the undersigned will pay all transfer taxes payable with respect thereto. Date: ------------------------- in whole ------------ in part ------------- Portions of Debenture to be converted ($1,000 or integral multiples thereof): $ --------------------------------------- Signature (for conversion only) ---------------------------------------- Please Print or Typewrite Name and Address, Including Zip Code, and Social Security or Other Identifying Number ---------------------------------------- ---------------------------------------- ---------------------------------------- Signature Guarantee: * --------------------------------- ---------------- (i) The Securities Transfer Agent Medallion Program (STAMP); (ii) The New York Stock Exchange Medallion Program (MSP); (iii) The Stock Exchange Medallion Program (SEMP); or (iv) in such other guarantee programs acceptable to the Trustee.

FORM OF NOTICE OF CONVERSION. To: American Classic Voyages Co. El Paso Natural Gas Company The Bank of New YorkChase Manhattan Bank, as Conversion Agent The undersigned owner of this Subordinated Debenture hereby irrevocably exercises the option to convert this Subordinated Debenture, or the portion designated, and directs that the shares issuable and deliverable upon conversion, together with any check in payment for fractional shares, be issued in the name of and delivered to the undersigned, unless a different name has been indicated in the assignment above. If shares are to be issued in the name of a person other than the undersigned, the undersigned will pay all transfer taxes payable with respect thereto. Date: ------------------------- ______________________________________________ in whole ------------ _________________ in part ------------- _________________ Portions of Subordinated Debenture to be converted ($1,000 50 or integral multiples thereof): $ --------------------------------------- $_______________________________________ Signature (for conversion only) ---------------------------------------- ): ________________________________________ ________________________________________ ________________________________________ ________________________________________ ________________________________________ ________________________________________ Please Print or Typewrite Name and Address, Including Zip Code, and Social Security or Other Identifying Number ---------------------------------------- ---------------------------------------- ---------------------------------------- ________________________________________ ________________________________________ ________________________________________ Signature Guarantee: * --------------------------------- ----------------________________________________________ (i) The Securities Transfer Agent Medallion Program (STAMP); (ii) The New York Stock Exchange Medallion Program (MSP); (iii) The Stock Exchange Medallion Program (SEMP); or (iv) in such other guarantee programs acceptable to the Trustee.

FORM OF NOTICE OF CONVERSION. To: American Classic Voyages Co. The Bank of New York, as Conversion Agent The undersigned owner of this Debenture hereby irrevocably exercises the option to convert this Debenture, or the portion designated, and directs that the shares issuable and deliverable upon conversion, together with any check in payment for fractional shares, be issued in the name of and delivered to the undersigned, unless a different name has been indicated in the assignment above. If shares are to be issued in the name of a person other than the undersigned, the undersigned will pay all transfer taxes payable with respect thereto. Date: ------------------------- :_______________________ in whole ------------ _________ in part ------------- __________ Portions of Debenture to be converted ($1,000 __ or integral multiples thereof): $ --------------------------------------- Signature (for conversion only) ): ---------------------------------------- ---------------------------------------- ---------------------------------------- ---------------------------------------- ---------------------------------------- Please Print or Typewrite Name and Address, Including Zip Code, and Social Security or Other Identifying Number ---------------------------------------- ---------------------------------------- ---------------------------------------- Signature Guarantee: * --------------------------------- ---------------- (i) The Securities Transfer Agent Medallion Program (STAMP); (ii) The New York Stock Exchange Medallion Program (MSP); (iii) The Stock Exchange Medallion Program (SEMP); or (iv) in such other guarantee programs acceptable to the Trustee.----------------------------------