SERVICE ANNOUNCEMENT

11 June, 2001

MOL Enhances Dedicated Hong Kong/Straits Service

TOKYO - Mitsui.O.S.K. Lines, Ltd. (MOL) (President: Kunio Suzuki) today announced the launch of an additional loop in the company's Japan-Hong Kong/Straits service starting June 30. The new loop will be operated in partnership with Interasia Lines Ltd. and Wan Hai Lines Ltd., adding three 2000 TEU class vessels to the trade. MOL will maintain its current service independently.

The current service rotates Japanese coastal ports starting from Kanto to Kansai, while the new service rotates from Kansai to Kanto. This will ensure the fastest transit times to and from Kanto/Kansai for both import and export cargoes. Along with MOL's deep sea intra-Asia service MOL will be able to offer customers the fastest, highest quality service linking Japan, Hong Kong, and the Straits.

The new service will also add a direct call at Shimizu and Osaka. In addition, MOL will upgrade its current service with larger vessels to increase efficiency and meet growing space demands further expanding of the intra-Asia trades.

Following is an overview of both services:

Existing service: CHS-1: Kanto -> Kansai Loop

• Vessel Deployment: MV Houston -2,250TEU, MV MOL Eternity - 2,250TEU, and MV MOL Fortune - 2,400TEU
• Ports of Call: Tokyo (Mon/Tue) -> Yokohama (Tue/Tue) -> Nagoya (Wed/Wed) -> Kobe (Thu/Thu) -> Hong Kong (Sun/Mon) -> Singapore (Thu/Fri) -> Port Kelang (Fri/Sat) -> Singapore (Sun/Mon) -> Hong Kong (Thu/Thu) -> Tokyo (Mon)
• MOL will upgrade the fleet from the current 2,000 TEU vessels to ships in the 2,400 TEU class.

New service: CHS-2: Kanto -> Kansai Loop

• Vessel Deployment: MV Med Taichung -2,000TEU, MV Atlantic Bridge - 2,000TEU, and MV TMM Chiapas - 2,000TEU
• Ports of Call: Osaka (Mon/Mon) -> Kobe (Mon/Tue) -> Shimizu (Tue/Wed) -> Tokyo (Wed/Wed) -> Yokohama (Thu/Thu) -> Hong Kong (Sun/Mon) -> Port Kelang (Fri/Sat) -> Singapore (Sun/Mon) -> Hong Kong (Thu/Fri) -> Osaka (Mon)
• This loop begins June 22 with the arrival of the MV Med Taichung at Port Kelang

For more information, please contact: Toshihiko Uratsuka, Manager of Asia and Oceania Team, North-South Trades Coordination Department, Liner Division TEL: 81-3-3587-7097 FAX: 81-3-3587-7736 e-mail: asimo@mail.mol.co.jp