ANA and Japan Post Announce New Airline
- ANA & JP Express launches February; first flights August -
- New partners Nippon Express and Mitsui O.S.K. Lines announce participation -

January 30, 2006

TOKYO January 30, 2006 ANA and Japan Post today announced that their new joint venture cargo airline - which is to be named ANA & JP Express, or AJV - will be established in February this year, with flights planned to commence in August this year.

The airline will initially be 100% wholly-owned by ANA, with Japan Post planning to take its stake from April, subject to approval by the Japanese government. Also joining the partnership at that time will be Nippon Express, Japan's largest global logistics enterprise, and Mitsui O.S.K. Lines (MOL), a shipping company offering a full range of shipping services. Following their investments in April ANA is expected to become the majority shareholder with a 51.7% interest, Japan Post holding 33.3%, Nippon Express 10% and MOL 5%.

Nippon Express is expected to lend its expertise in international logistics to contribute to the marketing planning of the new airline, as well as feeding cargo to the new airline. MOL's interest is expected to lie in future co-operation with the new airline in the international logistics field in general.

ANA & JP Express will be headed by Mr Kenkichi Honbo, at present ANA Senior Vice President Cargo Marketing and Services.

"This is a great step forward for ANA as we move to truly establish cargo as the third pillar of our business," said ANA President and CEO, Mineo Yamamoto, speaking on behalf of all four parties. "We are delighted to work with Japan Post and welcome onboard our new partners Nippon Express and Mitsui O.S.K. Lines - with our combined know-how and experience, I have every confidence that we can achieve our business goals, which are to provide high quality, competitive express courier and general air cargo services," he said.

ANA& JP Express will operate using ANA's fleet of Boeing 767 freighters, which currently comprises three aircraft. Four more are expected to be delivered by October 2008, three of which will be converted versions of ANA 767 passenger aircraft.

*Investment by Japan Post is subject to Japanese government approval and will take place in April, as will that of Nippon Express and Mitsui O.S.K. Lines. Until that point ANA will be the sole shareholder

**ANA & JP Express will be established as the air cargo arm of Air Japan, and ANA Group airline