CORPORATE ANNOUNCEMENT

30 August, 2004

MOL (China) Opens Nanjing Branch

TOKYO – Mitsui O.S.K. Lines, Ltd. (MOL; President: Akimitsu Ashida) today announced that its wholly owned subsidiary MOL (China) Co. Ltd. (Head Office: Shanghai) will open a Nanjing Branch, with operations starting on September 1.

MOL has promoted the expansion and enhancement of its network as part of a new three-year China strategy plan that began last year.

This new Nanjing Branch, which replaces representative office of MOL, could provide powerful and flexible sales force and strengthen MOL’s self-network in China.

With the opening of the Nanjing Branch, MOL (China) has a total of seven branches, including Tianjin, Ningbo, Qingdao, Shenzhen, Guangzhou, and Xiamen. A Dalian Branch is slated to open this fall.

At present, the total number of MOL offices in China is 22. The MOL Group will continue to expand its network and provide higher levels of service in China.

MOL (China) Co., Ltd. Nanjing Branch

• Start of operation: September 1, 2004
• Branch manager and number of employees: Hiroshi Asano (also MOL (China) President/ Managing Director); 12
• Coverage area: Jiangsu Province (excluding Suzhou / Kunshan), Anhui Province
• Address: Blook S3, 18F, Huatai Security Building, No.90 East Zhongshan Road, Nanjing, 210005, CHINA
• Tel: 025-8664-1690
• Fax: 025-8664-9308

For further information, please contact:
 
    Emi Akaike
    Manager
    Administration Group, Liner Division
    Mitsui O.S.K. Lines, Ltd.
    Tel: 81-3-3587-7131
    Fax: 81-3-3587-7728
    E-mail: ladmo@mail.mol.co.jp