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then has awarded full and partial scholarships to over 30 current and past employees in the fields of mechanical and electrical engineering, information technology, systems operations, environmental management and financial services. 

Three of the Company’s four executives and three of its 15 managers were educated through CUC scholarships. 

We look forward to welcoming home in 2012 our latest scholarship recipient, Mr. Waide Watler, who is completing studies in Computer Science in the United States. 

## Safety and the Environment 

Employee and public safety remains our number one priority and during 2011 we continued to strengthen our 

safety programme and improve our work methods and practices. 

On January 28, 2011, an explosion occurred in Engine Room 4. This caused serious injuries to one employee and serious but non-life threatening injuries to another. One employee remains in Miami where he continues to receive special outpatient treatment and physiotherapy. We look forward to welcoming him home in the near future. The other employee is fully recovered and was able to return to work soon after the incident. 

The explosion is the first of its kind in the history of the Company and has been used as a catalyst to redouble our efforts in improving safe work practices, safety equipment, and awareness and the reinforcement of safety policies and rules. 

Employee and contractor safety is critical in our business which is characterized by unique and ever present hazards, including risk of electrocution, explosions and falls from significant heights. Equipment inspection, employee and contractor orientation and continuous training in areas such as Personal Protective Equipment are the cornerstones of our successful programme. 

The Company’s safety programmes extend to our customers as well, with the promotion of electrical hazard awareness through school programmes and public safety demonstrations. 

In the absence of environmental regulations governing CUC’s operations, the Company established self-imposed standards to which it adheres under its International 

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