NEWS RELEASE

11 December 2000

MOL Senior Managing Director Hojo Addresses Second World LNG Summit

TOKYO - Mitsui O.S.K. Lines, Ltd. (MOL; President Kunio Suzuki) today announced that MOL Senior Managing Director Tokinao Hojo gave a keynote speech on mid-term trends of the LNG (liquefied natural gas) market at the Second World LNG Summit held in Rome. An outline of the event follows:

• Event dates: December 4 and 5, 2001
• Location: Cavalieri Hilton Hotel (Rome)
• Role: A keynote speaker in the December 5 shipping session
• Contents of summit: Speeches given by representatives of industries involved in the LNG market, such as LNG sellers and purchasers, banks, and shipping companies
• Theme of Hojo speech: Medium-Term Prospects of the LNG market

For further information, please contact Jun Hoshino, LNG Carrier Division (B), LNG Project Team (B), Mitsui O.S.K. Lines, Ltd., Tel. 81-3-3587-7374, Fax: 81-3-3587-7748, E-mail: lgpjb@mail.mol.co.jp