SERVICE ANNOUNCEMENT

11 December 2000

MOL Announces Westbound All-Water Service from Europe to Oakland

CONCORD, CA - MOL (America) Inc. has announced it will accept westbound cargo from Europe to Oakland on its weekly, fixed-day, all-water APX service, effective immediately.

The westbound port rotation for the APX service is Rotterdam; Felixstowe; Le Havre; New York; Norfolk; Charleston; Manzanillo, Panama, and Oakland. In addition to providing a direct connection between Europe and the U.S. West Coast, MOL's APX service offers the following transit times to Oakland: 23-days from Le Havre, 24-days from Felixstowe, and 25-days from Rotterdam.

"Adding the westbound call at Oakland to our APX service profile provides our Trans-Atlantic service customers an important All-Water / U.S. West Coast service," said Frank Masi, VP Trade Services, MOL (America) Inc. "With this call, we are able to provide our customers with yet another service option," Masi concluded.

MOL operates one of the largest and most diverse networks of liner and logistics services around the globe, including weekly Trans-Pacific, Trans-Atlantic, Americas and Asia-Europe services. MOL is a founding carrier partner in GT Nexus, an e-logistics solutions company. MOL (America) Inc. is a wholly owned subsidiary of MOL, Ltd., the world's largest multi-modal shipping company. Please visit the company's website at www.molpower.com

For further information, please contact Ann Elleflot, Manager, Advertising/Communications, MOL (America) Inc. by telephone (925/688-2604) or e-mail (ann.elleflot@mitsuiosk.com).