LIFE INSURANCE BENEFITS PROVIDED BY THE COMPANY TO NIELS W. JOHNSEN AND ERIK F. JOHNSEN International Shipholding Corporation (the "Company") has agreements with Erik F. Johnsen, Chairman of the Board of Directors and Chief Executive Officer, and...

                 LIFE INSURANCE BENEFITS PROVIDED BY THE COMPANY
                     TO XXXXX X. XXXXXXX AND XXXX X. XXXXXXX

     International Shipholding Corporation (the "Company") has agreements with
Xxxx X. Xxxxxxx, Chairman of the Board of Directors and Chief Executive Officer,
and Xxxxx X. Xxxxxxx, a Director and former Chairman, whereby their estates will
be paid approximately $822,000 and $626,000, respectively upon death. The
Company maintains an insurance policy and has established reserves sufficient to
cover these benefits.