SERVICE ANNOUNCEMENT

17 August, 2004

MOL Opens New Haiphong-HK Service

MOL has been actively upgrading its Intra Asia liner service in response to fast-growing regional container shipping market.

New Haiphong-Hong Kong Service

The new service links two ports and the world. Haiphong is a gate port for northern Vietnam where it is expected to have the fastest developing economy in Asia in coming years. Hong Kong works as MOL's connection hub for its worldwide liner service network.

Upgraded Haiphong-Japan Service

The new service is connected to MOL's known-to-be-fast Intra Asia service such as CHS/HS2/JHC, the combination provides the fastest transit time between the two regions available in the industry. MOL's Southeast Asia - Japan service provides top-level transit time between major ports of the two sides, its addition of Haiphong to the network extends its service coverage even further.

For further information, please contact:
 
    Masanori Doi
    Manager, Strategic Planning & Asset Management Group, Liner Division
    Mitsui O.S.K. Lines, Ltd.
    TEL: 81-3-3587-7422
    FAX: 81-3-3587-7653
 
    Jotaro Tamura
    Senior Manager, Trade Management Dept.
    MOL(Asia) Ltd.
    TEL: 852-2823-8103
    FAX: 852-2143-6318