HEALTH, SAFETY AND ENVIRONMENTAL STATEMENT

PegasusTSI believes that accidents/incidents are preventable and continuously strives towards a "Zero Incident" culture. Our commitment to a positive Health, Safety and Environmental (HSE) performance is a core value of the company and this will be managed as an integral part of our business. We believe these initiatives are good business practices and will benefit employees, customers, shareholders and neighbors wherever we do business.

Our Management is committed to:

• Implementing and operating an HSE Management System to maintain the highest HSE standards in-line with our vision to be a world class Engineering, Procurement and Construction Management Company.
• Managing HSE responsibility throughout our organization by systematically identifying HSE risks and reducing them to the lowest practical levels.
• Managing all projects, and processes through their life-cycles in a way that protects safety and health and minimizes impacts to the environment.
• Comply with legislation and standards relevant to PegasusTSI activities.
• Strive to prevent pollution of the environment through the elimination or minimization of discharges, emissions and waste.
• Setting targets for continuous improvement in HSE performance and making line management accountable for achieving these targets.
• Promoting total reporting of near misses as a good tool to prevent all sorts of incidents.
• Including HSE competencies and performance in the appraisal and reward of all staff.
• Promoting and providing appropriate HSE education and training for all employees.
• Measuring, appraising and reporting HSE performance to identify the opportunities for continuous improvement.
• Conducting periodic audits to verify compliance with this Statement and implementing audit recommendations to improve our HSE management system.
• Requiring contractors and suppliers to manage HSE to comply with the requirements of the Company HSE Management System.

Mark Thompson
General Manager