CORPORATE ANNOUNCEMENT

27 September, 2004

MOL Hires Consultant to Oversee Vessel Security in Malacca and Singapore Straits

TOKYO - Mitsui O.S.K. Lines, Ltd. (MOL; President: Akimitsu Ashida) today announced that the company has hired ST Education and Training Pte. Ltd. (STET) to oversee security related to MOL-operated ships passing through the Malacca and Singapore Straits.

STET experts board vessels bound from the Middle East to Japan before reaching the Straits of Malacca, and confirm that security measures are in place in various areas around the clock, especially the bridge. Beefed-up security efforts focus on the Malacca and Singapore Straits, busy international shipping lanes where piracy has been a growing problem. Input from STET personnel will help MOL continually upgrade its vessel security.

This program started on September 19, when two STET consultants boarded the very large crude carrier (VLCC) Atlantic Liberty. Consultants will be aboard six MOL-operated VLCCs successively while the company evaluates the results of the program.

Since the terrorist attacks in the United States on September 11, 2001, concerns have emerged about a new generation of terrorist targeting ships and cargo during transit, or using merchant vessels to transport weapons or personnel. Antiterrorism amendments to the International Convention for the Safety of Life at Sea (SOLAS) treaty, including the International Ship and Port Facility Security (ISPS) Code took effect on July 1.

MOL has not only acquired the International Ship Security Certificate (ISSC) that required under the ISPS Code, but also drafted a shipboard manual on countermeasures against terrorism and piracy.

Singapore-based STET offers a range of education and training programs on maritime issues. Following the adoption of the ISPS Code, the company was approved by the government of Panama as a certified security institute under the Panama Ship Security Plan (SSP). It also offers training targeting at ship security officers (SSOs), company security officers (CSOs), and port facility security officers (PFSOs) in various regions of Asia.

For further information, please contact:
 
    Masahiko Hibino
    Manager, Marine Safety Group, Marine Management Division
    Mitsui O.S.K. Lines, Ltd.
    Tel: 81-3-3587-7050
    Fax: 81-3-3587-7717
    Email: mrnmo@mail.mol.co.jp