CORPORATE ANNOUNCEMENT

30 January 2003

MOL Receives Limited Brands’ Logistics Services 2002 Distinguished Service Award

MOL (Asia) Ltd. is proud to announce that Limited Brands, a major retailer in The USA marketing under such famous brand names as The Limited, Victoria’s Secret, and Bath & Bodyworks, has presented MOL the “Distinguished Service 2002” Award. This Award was presented based on overall performance of MOL as an ocean carrier for Limited Brands in 2002.

The first annual Awards dinner was held on Jan 23, 2003 at the Hotel Inter-Continental in Hong Kong. All of the Limited Brands service providers, including Ocean carriers and air forwarders, attended the dinner. Mr. Yoshihiro Okada, VP & General Manager, Strategic Global Accounts Development, Mr. Junya Nakamura, Deputy General Manager of N. America Trade Marketing, Mr. Frederick Birnbaum, Regional Manager of N. America Trade Marketing, and Carol Chan, Manager of N. America, Marketing & Sales for MOL (Asia) Ltd., represented MOL in accepting this prestigious award.

The criteria to qualify for this award include that a carrier consistently execute excellence in their service levels, as well as support in the development of new ideas for Limited Brands logistics division.

MOL operates one of the largest and most diverse networks of liner and logistics services around the globe. MOL looks forward to continued business success meeting the logistics needs of today’s global business to ensure timely and reliable service.

This release was issued by MOL (Asia) Ltd.

For further information, please contact:
 
    Margaret Lam
    Manager, Public Relations & General Affairs
    Tel: (852) 2823-6818
    Fax: (852) 2529-9989
    E-mail: margaret.lam@molasia.com