Investor

Presentation

July 2008

Exhibit 99.2

Disclaimer

In connection with the proposed merger, Marathon has filed with the U.S. Securities and Exchange Commission a Registration

Statement containing a proxy statement/prospectus. The proxy statement/prospectus and a form of proxy have been mailed to

the stockholders and warrantholders of Marathon, seeking their approval of the transaction. Before making any voting

decision, Marathon’s stockholders and warrantholders are urged to read the proxy statement/prospectus regarding the merger

carefully and in its entirety because it contains important information about the proposed merger. Marathon’s stockholders

and warrantholders may obtain, without charge, a copy of the proxy statement/prospectus and other relevant documents filed

with the U.S. Securities and Exchange Commission from the Commission’s website at http://www.sec.gov. Marathon’s

stockholders

and

warrantholders

may

also

obtain,

without

charge,

copy

the

proxy

statement/prospectus

and

other

relevant documents by directing a request by mail to Michael Gross at Marathon Acquisition Corp., 500 Park Avenue, 5th Floor,

New York, New York 10022 or by telephone at (212) 993-1670.

Marathon and its directors and officers may be deemed to be participants in the solicitation of proxies from Marathon’s

stockholders with respect to the proposed merger. Information about Marathon’s directors and executive officers and their

ownership of Marathon’s common stock is set forth in Marathon’s annual report on Form 10-K for the fiscal year ended

December 31, 2007. Stockholders may obtain additional information regarding the interests of Marathon and its directors and

executive officers in the merger, which may be different than those of Marathon’s stockholders generally, by reading the proxy

statement/prospectus and other relevant documents regarding the proposed merger filed with the U.S. Securities and

Exchange Commission.

NON-GAAP FINANCIALS

The financial information and data contained in this presentation is unaudited and does not conform to the U.S. Securities and

Exchange Commission’s Regulation S-X. Accordingly, such information and data may not be included in, may be adjusted in

or may be presented differently in, Marathon’s proxy statement to solicit stockholder approval for the proposed merger. This

presentation includes certain estimated financial information and forecasts presented as pro forma financial measures that are

not derived in accordance with generally accepted accounting principles (“GAAP”), and which may be deemed to be non-

GAAP financial measures within the meaning of Regulation G promulgated by the U.S. Securities and Exchange Commission.

Marathon and Global Ship Lease believe that the presentation of these non-GAAP financial measures serve to enhance the

understanding of the financial performance of Global Ship Lease and the proposed merger. However, these non-GAAP

financial measures should be considered in addition to and not as substitutes for, or superior to, financial measures of

financial

performance

prepared

accordance

with

GAAP.

Our

pro

forma

financial

measures

may

not

comparable

similarly titled pro forma measures reported by other companies.

Safe Harbor Statement

This

communication

contains

“forward-looking

statements”

within

the

meaning

Section

27A

the

Securities

Act

1933,

amended,

and

Section

21E

the

Securities

Exchange

Act

1934,

amended, regarding the plans and objectives of management for future operations. This information may involve known and unknown risks, uncertainties and other factors which may cause our actual

results, performance or achievements to be materially different from future results, performance or achievements expressed or implied by any forward-looking statements. Forward-looking statements,

which

involve

assumptions

and

describe

our

future

plans,

strategies

and

expectations,

are

generally

identifiable

use

the

words

“may,”

“will,”

“should,”

“expect,”

“anticipate,”

“estimate,”

“believe,”

“intend”

or “project”

or the negative of these words or other variations on these words or comparable terminology. These forward-looking statements are based on assumptions that may be

incorrect,

and

Marathon

cannot

assure

you

that

these

projections

included

these

forward-looking

statements

will

come

pass.

Actual

results

could

differ

materially

from

those

expressed

implied

the

forward-looking

statements

result

various

factors.

The

risks,

uncertainties

and

other

factors

also

relate

inherent

business,

economic

and

competitive

uncertainties

and

contingencies

relating to the business of Global Ship Lease including:

•

future operating or financial results;

•

expectations

regarding

the

strength

the

future

growth

the

shipping

industry,

including

the

rate

annual

demand

growth

the

international

containership

industry;

•

future

payments

dividends

and

the

availability

cash

for

payment

dividends;

•

Global

Ship

Lease’s

expectations

relating

dividend

payments

and

forecasts

its

ability

make

such

payments;

•

future

acquisitions,

business

strategy

and

expected

capital

spending;

•

operating expenses, availability of crew, number of off-hire days, drydocking (beyond the disclosed reserve), survey requirements and insurance costs;

•

general market conditions and shipping industry trends, including charter rates and factors affecting supply and demand;

•

Global Ship Lease’s ability to repay its credit facility and operate using the available funds under its credit facility;

•

assumptions regarding interest rates and inflation;

•

change in the rate of growth of global and various regional economies;

•

risks incidental to vessel operation, including discharge of pollutants and vessel collisions;

•

Global Ship Lease’s financial condition and liquidity, including its ability to obtain additional financing in the future (from warrant exercises or outside sources) to fund capital expenditures,

acquisitions and other general corporate activities;

•

estimated

future

capital

expenditures

needed

preserve

Global

Ship

Lease’s

capital

base;

•

ability to effect an acquisition and to meet target returns;

•

Global Ship Lease’s expectations about the availability of ships to purchase, the time that it may take to construct new ships, or the useful lives of its ships;

•

Global Ship Lease’s continued ability to enter into long-term, fixed-rate charters;

•

Global

Ship

Lease’s

ability

capitalize

its

management

team’s

and

board

directors’

relationships

and

reputations

the

containership

industry

its

advantage;

•

changes

governmental

and

classification

societies’

rules

and

regulations

actions

taken

regulatory

authorities;

•

expectations about the availability of insurance on commercially reasonable terms;

•

unanticipated changes in laws and regulations;

•

potential liability from future litigation; and

•

other

factors

discussed

the

section

entitled

“Risk

Factors”

the

proxy

statement/prospectus

Certain of these and other applicable risks, cautionary statements and factors that could cause actual results to differ from Marathon’s forward-looking statements are included in Marathon’s filings

with the U.S. Securities and Exchange Commission, specifically as described in Marathon’s annual report on Form 10-K for the fiscal year ended December 31, 2007 and the proxy statement /

prospectus. Marathon undertakes no obligation to update or revise any forward-looking statements to reflect subsequent events or circumstances.

Presenters

Ian J. Webber

Global Ship Lease

Chief Executive Officer

Michael S. Gross

Marathon Acquisition Corp.

Chairman, Chief Executive Officer

Thomas A. Lister

Global Ship Lease

Chief Commercial Officer

GSL / Marathon Transaction Overview

July

23,

2008,

Marathon

(AMEX:

MAQ)

entered

into

amendment

the

Agreement

and

Plan

Merger with Global Ship Lease (“GSL”

or the “Company”)

–

Marathon and GSL will merge, with the combined company to be renamed Global Ship Lease, Inc.,

and will apply for listing on the NYSE

–

GSL is an owner and operator of 12 containerships with five additional fully financed vessels to be

delivered between December 2008 and July 2009

Total consideration of $988 mm includes: $227 mm of cash, $183 mm in common and subordinated

equity, $48 mm mandatorily preferred stock and $530 mm of debt

Key changes since initial announcement include:

–

$7.8 mm additional annual increase in charter rates, an 8% increase in EBITDA

–

CMA CGM equity purchase price reduced by 2.1 mm total Class A and B shares; will also receive

$48 mm of GSL preferred stock in lieu of $48 mm in cash at closing

–

Marathon founders to forfeit 3.1 mm total Class A and B shares, or 33% of its total shares

–

Repurchase of six million shares at or after close

–

In exchange for the concessions above, CMA CGM will receive 3.1 mm and Marathon founders will

receive 3.1 mm warrants with an exercise price of $9.25 per share

Dividend to increase to $0.23 quarterly ($0.92 annually)

–

Dividend yield of 11.6%, vs. peer group average of 7.6%

–

Starting dividend of $0.23 payable in late August / early September

Shareholder vote scheduled for August 12, 2008

GSL

Investment Highlights

Significant Current

and Future Growth

Opportunities

Long-term Stable

Cash Flows

Attractive Industry

Outlook

Modern, High

Quality Fleet Of

Diverse Sizes

Experienced

Management Team

Sustainable long-term growth from globalization and expansion of emerging markets

10% CAGR demand in containerized trade for past 20 years

Increasing trend to charter-in capacity by liner companies especially during economic

weakness

Slow steaming increases utilization of vessels given significant

fuel cost savings for charterers

Sizeable, contracted revenue with 11 year avg. charter term

Predictable cost structure

Attractive credit facility pricing -

LIBOR + 75 to 110bps (based upon leverage level); debt

swapped into fixed rate

Management has diverse, long-standing industry relationships

–

CEO Ian Webber (former CFO of CP Ships ), CFO Susan Cook (former

Group Head of

Specialized Finance at P&O) and CCO Thomas Lister (former ship financier at DVB Bank)

Management team actively pursuing acquisition opportunities

Significant industry orderbook needs to be financed

Expanding charter owner in fragmented market

–

Over 80% fleet capacity (TEU) growth; 60% contracted revenue growth by 3Q09

GSL has significant financial flexibility to make accretive acquisitions

Young fleet with average age of fleet of 5.5 years post contracted deliveries

Flexible vessel type attractive for charters; able to operate on

a variety of trade lanes

Balanced portfolio of vessel sizes closely mirrors global feet profile

Attractive Valuation Relative to Peers

Note:

Market

data

July

23,

2008.

$ millions, except per share amounts

Pro Forma Valuation

Comps -

Dividend Yield (LQA)

Comps -

Dividend Yield (LQA)

(1) Based on estimated cash held in trust.

(2) Includes 12.4 mm Class C shares for vessel deliveries in December 2008; Assumes treasury

stock method for warrants.

(3) Includes $338 mm in debt that will be drawn-down in the future to fund vessel deliveries.

Contracted

Valuation

Fleet

Marathon Cash Held in Trust (per share)

(1)

$7.92

Fully Diluted Shares

(2)

74.5

Market Capitalization

$589.9

Preferred Equity

48.0

Net Debt

(3)

515.4

Implied Firm Value

$1,153.3

Annual Dividend per Share

$0.92

LQA Dividend Yield

11.6%

9.3%

7.8%

7.5%

Global Ship Lease

(Current)

Global Ship Lease

(At Announcement)

Seaspan

Danaos

36,322

59,670

66,297

Currrent

Q4 2008

Q3 2009

GSL Overview: Young, High Quality Fleet With Long-Term Charters

(2) 362 onhire revenue days. No drydocking.

(3) Weighted-average age.

(3) Based on current and contracted fleet.

10.8 yrs

10.7 yrs

9.3 yrs

Contract Length

$155.5 mm

$143.2 mm

$98.5 mm

Revenue¹

5.5 years

3.5 years

5.3 years

Average Age²

16 Vessels

17 Vessels

12 Vessels

4,133 TEU

4,133

2,272

2,262

2,207

5,100

4,298

4,045

10,960

6,627

Fleet Size (TEUs)

End 2025

End 2012

End 2016

End 2017

End 2020

End 2022

Mid 2021

2025

2008

2009

2010

2011

2012

2013

2014

2015

2016

2017

2018

2019

2020

2021

2022

2023

2024

End 2012

End 2016

End 2017

End 2020

End 2022

CMA CGM Berlioz

Hull 4126

CMA CGM America

CMA CGM Sambhar

CMA CGM Jamaica

CMA CGM Chateau d’If

CMA CGM Alcazar

Marie Delmas

Kumasi

Julie Delmas

MOL Rainbow

CMA CGM Utrillo

CMA CGM Matisse

CMA CGM Manet

CMA CGM La Tour

Ville d’Aquarius

Ville d’Orion

Revised Deal Economics

Source:

Management

Estimates

for

pro

forma

vessel

fleet.

The

numbers

contained

above

are

for

illustrative

purposes

only

and

are

based

variety

assumptions

and

estimates

which

may

prove

inaccurate.

(1) 362 onhire revenue days. No drydocking.

(2) Operating expenses based on capped rates at 365 days per year plus insurance costs, accidents and incidents. Technical

management fees of $114,000 per vessel per year.

(3) Interest rate of 4.30% (based on blended hedged LIBOR rate of 3.55%+75bps), interest income at 2.5%.

(4) Cash dividend rate of 4.79% (assumes 3M-LIBOR of 2.79+200bps)

(5) Based on dry-docking cost estimates of management.

(6) Assumes 6mm share repurchase and includes reduction of 2.6m Class A and 2.6m Class B shares.

Pro Forma 17 Vessel Contracted Fleet Economics

Current

(Dollars in millions except per share data)

Deal

Changes

Deal

Revenue

(1)

$147.7

$7.8

$155.5

Operating Expenses

(2)

(47.6)

SG&A

(6.3)

EBITDA

$93.8

$7.8

$101.6

Less: Net Interest Expense

(3)

(21.2)

Less: Preferred Dividend

(4)

(2.3)

Less: Tax

(0.1)

Less: Drydocking

(5)

(3.6)

Distributable Cash Flow

$68.9

$5.5

$74.4

Dividend Per Share

$0.76

$0.16

$0.92

Shares Outstanding

(6)

Common

64.6

(8.6)

56.0

Subordinated

10.0

(2.6)

7.4

Dividends to Common

$49.1

$51.6

Common Dividend Coverage

1.40x

1.44x

Dividends to Subordinated

$7.6

$6.8

Total Dividend Coverage

1.21x

1.28x

Transaction Sources

$ millions

Transaction Uses

Sources & Uses ($m)

Initial 12

Vessels

4Q 08

(4 Deliveries)

3Q 09

(1 Delivery)

Total

Uses

Restricted Cash & Fees

$35

Share Repurchase

Vessel Acquisitions

552

$354

$82

988

Total Uses

$635

$354

$82

$1,071

Sources & Uses ($m)

Initial 12

Vessels

4Q 08

(4 Deliveries)

3Q 09

(1 Delivery)

Total

Sources

Available SPAC Cash

$310

CMA Common Equity

$98

183

CMA Preferred Equity

Credit Facility

192

256

$82

530

Total Sources

$635

$354

$82

$1,071

Note: Based on $7.92 per share.

Total consideration of approximately $988

mm:

–

~$227 mm of cash held in trust (net of

fees and restricted cash)

–

$183 mm in total equity to CMA CGM

representing pro forma ownership of 36%

•

6.8 mm common shares,

•

3.9 mm subordinated common shares,

•

12.4 mm Class C common shares as

partial pre-payment for December 2008

vessel deliveries

•

3.1 mm warrants with an exercise price

of $9.25 per share

•

$48 mm of 3 year mandatorily

redeemable GSL prefered

stock with a

dividend of 3 month LIBOR + 2.00%

per annum, payable quarterly in cash

–

~$530 mm total debt ($192 mm total debt

outstanding at transaction close) upon

delivery of the contracted fleet

Public Common

54%

Marathon Insiders

Common Shares

CMA CGM

Common Shares

30%

Subordinated

12%

Strong Sponsorship

Best-in-Class

Sponsor

Public

Company

Stewardship

Chairman and CEO Michael Gross has significant experience stewarding companies and increasing

shareholder value

16 years at Apollo Management where he was a founder and senior partner

Leverage extensive capital markets and management expertise as Partner of investment firm Magnetar

Capital and Chairman & CEO of investment firm Solar Capital

Strong independent sponsorship and financial expertise provided by Marathon

Independent directors will be a majority of the board

Responsible for aligning management and shareholder interests

Post Closing Ownership

(1)

(1) Based on total shares outstanding, excluding warrants.

(2) Owned by Marathon Insiders and CMA CGM.

(3) Includes 2 mm shares Michael Gross purchased in the aftermarket and is pro forma for 6 mm share repurchase that will be completed at close.

(4) Includes both 6.8mm Class A and 12.4mm Class C shares.

(2)

(3)

Ownership

Undiluted Shares Outstanding (mm)

63.4

Common Shares

Public

34.0

Marathon Insiders

2.8

CMA CGM

(4)

19.2

Subordinated Shares

Marathon Insiders

3.5

CMA CGM

3.9

23%

28%

30%

37%

42%

43%

45%

47%

50%

52%

49%

15%

16%

23%

10%

20%

30%

40%

50%

60%

Large Orderbook:

1,348 Vessels /

6.4mm TEU Capacity

2) Current Orderbook (2008-2011+)

Estimated Worldwide Fleet as of April 2008

4,450 Vessels/11.1mm TEU capacity

(1)

1) Existing Tonnage –

Liners and Other Independent

Charter Owners

Owned by Liner

Companies

Chartered-in by

Liner Companies

(1)

Source: Drewry, excludes multi-purpose and ro-ro vessels

Significant Industry Opportunities

GSL has significant growth opportunities:

3) Trend to Charter-In Vessels

Significant industry orderbook needs to be

financed

Slow steaming and economic weakness

drives demand for chartered-in vessels

Industry Overview

GSL’s Role in Container Trade

Source

and

aggregate

cargo

from

shippers

Load

and

discharge

containers

Ocean

carriage

Land

based

logistical

functions

Role

Liner

Companies

Own and provide vessels to container liner

companies under long-term charters

Be the competitive alternative to direct

ownership and other charter companies like

German KGs

No commodity or fuel price risk

No exposure to spot market

Profitable

but

volatile

cash

flows;

huge

capital

needs

Stable cash flows under long-

term charters

Role of Charter Owners (GSL)

Owns

and

charters-out

containerships

under

long-term,

fixed-rate

charters

Strategy

grow

acquiring

and

chartering-out

vessels

additional

counterparties

increase

distributable

cash

flow

per

Business Overview

7.7%

19.7%

5.0%

1.2%

7.0%

5.5%

5.1%

11.9%

12.2%

30.2%

10.5%

2.3%

11.9%

12.3%

11.7%

14.9%

Total Global

Weighted Container

Growth

Eastern Europe

Latin America

North America

ME & Africa

South Asia

Western Europe

Far East

106

117

129

100

120

140

1997

1998

1999

2000

2001

2002

2003

2004

2005

2006

2007

Consistent Growth in Container Trade

Source: Drewry

World Container Growth

(36.0%)

(% of 1Q 08

Container Trade)

(18.8%)

(18.2%)

(9.6%)

(9.1%)

(6.9%)

(1.4%)

Emerging markets drive growth in container trade

2007

1Q08

Even in times of economic weakness the industry has grown

at 10% p.a.

Container Growth by Region (2007 & 1Q2008)

US Publicly Listed

Other (Primarily

KGs)

49%

Liner Companies

48%

Current Fleet:

4,357 Vessels/10.7mm TEU capacity

(3)

Orderbook:

1,414 Vessels/6.5mm TEU capacity

Significant Opportunities for Charter Owners

Source: Drewry’s and management estimates as of January 2008.

(1) Current on-the-water fleet by TEU.

(2) US publicly listed includes Seaspan, Danaos and GSL.

(3) Excludes multi-purpose and ro-ro vessels.

Containership market is highly fragmented and growing

rapidly

US listed containership companies represent a small

percentage of the market but are extremely well

positioned for rapid growth

GSL

the

20th

largest

containership

charter

owner

the world and should be able to move quickly into the top

(2)

Containership Ownership Breakdown

(1)

Containership Ownership Breakdown

(1)

Growth Opportunity in Market

23%

28%

30%

37%

42%

43%

45%

47%

50%

52%

23%

16%

15%

49%

10%

20%

30%

40%

50%

60%

Chartered-in vessels approx. 52% of the top 10 liners

capacity and is increasing (compared to ~15% in 1994)

Containership charter owners benefit from a pro-

and

counter-cyclical business model

–

Sale and charter back transactions tend to

increase in times of economic weakness

–

Liners charter-in during upswings to rapidly

ramp-up capacity

Significant economic savings to liners from outsourcing

vs owning

Industry Dynamics Favor Charter Owners

Increasing Trend Towards Outsourcing

Company and Financial Overview

Business Strategy

Continue to

Grow the

Dividend

Consistently increase distributable cash flow and dividends per share

through accretive acquisitions

Focus on returns to shareholders

Expand Fleet

through

Accretive

Acquisitions

Expand fleet through accretive acquisitions of modern, high quality

containerships

Focus on returns / economics to ensure that acquisitions meet IRR targets

and are accretive to distributable cash flow per share

Double fleet to $2 bn in next 12-18 months

Maintain

Balanced

Portfolio

Focus on long-term charters with staggered maturities

Broaden customer base by adding high credit-quality charterers

Maintain a young, diversified fleet with a range of vessel sizes

Provide World-

class Service

Become partner of choice to supply capacity to leading liner companies

Best in class, competitive provider of chartering services

Outsourcing shipmanagment philosophy to manage risk and diversify choice

High safety standards and reliable service

$5.0

$6.3

$8.4

$11.8

2004

2005

2006

2007

Strong Initial Charterer

Third largest container shipping company in the world with $11.8

bn in revenues

Rated BBB-/Ba1 by S&P/Moody’s

Strong interest in seeing a more competitive public containership charter owner market

Will receive 23.1 mm shares (including 3.9 mm subordinated shares) as part of the merger

Strong Charter

Relationship

Revenue ($ bn)

Fleet Profile

636,000

Orderbook:

294

393

Vessels

TEU (000s)

287,805

Owned:

648,170

Chartered-In:

248,000

Chartered-In:

935,975

Current:

388,000

Owned:

Source: Company Information as of March 31, 2008.

Strong Financial Flexibility

$800mm credit facility, 8-year term

–

5-year non-amortization

–

LIBOR + 75 bps with adjustments after certain leverage levels (up to L+110 bps)

–

$262 mm undrawn under the credit facility for new acquisitions

–

Participating banks include: Fortis, Citi, HSH Nordbank, Sumitomo Mitsui, KFW and DnB

Nor Bank

–

Interest rates predominantly hedged

Warrants provide $240 mm in cash to fund future vessel acquisitions and preferred share

redemption

Balanced financial strategy preserves flexibility

–

Capitalize on market conditions

–

Maintain flexibility for acquisition and expansion opportunities

–

Long-term target 50-60% LTV

–

Strong relationships with bank group

Expansion Strategy Supports Long-term Dividend Growth

Deal Analytics

Objective: Build a portfolio of high quality assets diversified by

charterer, charter term and vessel size

Analysis on four dimensions:

–

Asset quality & liquidity

–

Charterer strength

–

Portfolio effects

–

Economics/returns

Target Returns

Portfolio level:

–

Accretive to distributable cash flows and dividends per share

Asset level:

–

High single digit unlevered IRR

–

Low double digit IRR at long term target LTV

Financing

Structure

50-60% long term target / steady state LTV

Scope for higher LTV on temporary basis to capitalize on exceptional

acquisition opportunities

Swap debt into fixed rate

Generate

attractive

returns

and

grow

distributable

cash

flow

for

shareholders

through

accretive

vessel

acquisitions

GSL Investment Highlights

Modern, high quality

fleet of diverse sizes

Built-in growth with

minimum dividend

increases

Attractive industry

outlook

Financial capacity to

make additional

accretive acquisitions

Experienced

management —

strong

industry relationships

Long-term stable cash

flows

Appendix

Experienced Management

Thomas A. Lister

Chief Commercial

Officer

Ian J. Webber

Chief Executive

Officer

DVB Bank, 2005-2007: Specialist transport asset financier, SVP & Head of

Singapore ship leasing and investment fund project

Nordcapital, 2004-2005: German KG financier and asset manager: director

of business development

>10 years experience in various roles with liner shipping companies

CP Ships, 1996-2006: CFO and Director

–

Public company traded on NYSE and TSE

–

Sold to Hapag-Lloyd in 2005 for $2.3 bn

Pricewaterhouse, 1979-1996: Partner, 1991-1996

Susan J. Cook

Chief Financial Officer

P&O, 1986-2006: Group Head of Specialized Finance, Head of

Structured Finance, Deputy Group Treasurer

Chartered Management Accountant and Member of Association of

Corporate Treasurers

Fleet List

Note: Excludes dry-docking, insurance, accidents and incidents.

Size

Daily

Time Charter

Projected

Commencement

(TEU)

Charter Rate

Opex Cap

(years)

of Charter

Kumasi

2,207

2002

$18,465

$5,400

Commenced

Marie Delmas

2,207

2002

18,465

5,400

Commenced

MOL Rainbow

2,207

2003

18,465

5,400

Commenced

Julie Delmas

2,207

2002

18,465

5,400

Commenced

CMA CGM Matisse

2,262

1999

18,465

5,400

Commenced

CMA CGM Utrillo

2,262

1999

18,465

5,400

Commenced

CMA CGM La Tour

2,272

2001

18,465

5,400

Commenced

CMA CGM Manet

2,272

2001

18,465

5,400

Commenced

Ville d’Aquarius

4,113

1996

28,500

6,400

Commenced

Ville d’Orion

4,113

1997

28,500

6,400

Commenced

CMA CGM Alcazar (Newbuilding 1)

5,100

2007

33,750

5,900

Commenced

CMA CGM Château d’lf (Newbuilding 2)

5,100

2007

33,750

5,900

Commenced

Total / Average

36,322

$22,685

$5,650

CMA CGM Sambhar

4,045

2006

$25,350

$6,650

Dec-08

CMA CGM America

4,045

2006

25,350

6,650

Dec-08

CMA CGM Jamaica

4,298

2006

25,350

6,650

Dec-08

Hull 4.126 (Newbuilding 3)

10,960

2008

47,200

8,800

Dec-08

Total / Average

23,348

$30,813

$7,188

CMA CGM Berlioz

6,627

2001

$34,000

$7,800

Jul-09

Total / Average

66,297

$25,263

$6,138

3Q 2009 Contracted Fleet:

Vessel Name

Year Built

CurrentFleet:

4Q 2008 Contracted Fleet:

804

534

458

419

409

393

383

373

303

246

181

131

115

111

Top 20 Charter Owners

Source: Clarkson Research as of April 2008.

Top 20 Charter Owners (in ‘000s of TEU)

US Publicly-listed.

Current Fleet (German KG)

Current Fleet (Other Owners)

Orderbook (German KG)

Orderbook (Other Owners)

7.4 mm subordinated Class B common shares issued to CMA CGM and

Marathon founders

Terms of the Subordinated Shares

Description

Dividend Entitlement

No dividends payable with respect to 2Q08 and 3Q08

Shares will be entitled to dividends with respect to 4Q08, payable in 2009

Receive quarterly dividends from operating surplus for periods after 3Q08

equal

the

common

quarterly

dividends

the

extent

that

all

Class

common

shareholders

have

received

all

accrued

and

unpaid

base

dividends

Dividends are non-cumulative

Subordination Period

The subordination period will end after June 30, 2011, provided that:

–

Base dividends have been paid on all common and subordinated

shares for previous 4 consecutive quarters; AND

–

1.25x cash flow coverage of base dividends on all outstanding

shares for those 4 quarters

Convert to Class A common shares when these conditions are met

Investor

Presentation

July 2008

Marathon Acquisition Corp. 8-K