TNWA Enhances Trans-Pacific Deployment.
Expanded Port Coverage - Greater Service Frequency - Faster Transit Times

April 03, 2006

Singapore, Seoul, Tokyo, 3 April 2006 -- The New World Alliance (TNWA) today announced improvements to its Trans-Pacific U.S. West Coast services to further broaden global coverage and service frequency. The TNWA is the consortium of ocean carriers APL, Hyundai Merchant Marine (HMM), and Mitsui O.S.K. Lines (MOL), which together provide service to more than 40 ports using 100+ containerships in the major East-West container trades: Trans-Pacific, Trans-Atlantic, and Asia-Europe.

The following deployment changes and enhancements will take effect during April and May.

PS1 - Pacific South 1

Laem Chabang, hub to Thailand's premier manufacturing region, is added to the rotation. Oakland is removed from the rotation. The PS1 maintains its 10-day transit from Hong Kong to Seattle, one of the industryaa's fastest. In addition, Pacific Northwest reefer and dry exports to Taiwan and Laem Chabang will benefit from improved transit times.

PS2 - Pacific South 2

Starting May 1, Yantian is replaced by a Chiwan call, bringing this premier service closer to the fast-growing West Pearl River Delta market. The PS2 will maintain its current South China close and departure times and, when combined with the feeder networks along the West Pearl River Delta, will be an industry-leading service to Southern California.

PNW - Pacific Northwest Service

The PNW now offers an end-of-week closing for its Hong Kong call, which greatly assists shippers with their production schedules. It also consolidates its Japan call at Tokyo, and continues to offer a direct connection from Shanghai and Pusan to Seattle/Tacoma and Vancouver.

PSW - Pacific Southwest Service

The PSW offers comprehensive coverage of South China and the Shenzhen Special Economic Zone, with an industry-leading 8-day transit from Pusan to Los Angeles.

PCX - Pacific China Express

This service will now be part of the TNWA services and offer direct calls at Ningbo and Shanghai. It offers an industry-leading 10-day transit from Shanghai and Ningbo to Los Angeles/Long Beach.

SAX - South Asia Express

Laem Chabang is removed from the rotation. It will offer a 3-day faster transit from Los Angeles to Singapore.

No changes will be made to the TNWA's three other Trans-Pacific West Coast Services: PS3, PCE and PSX. The PCE replaced the GCX in February, and offers coverage of the booming Bohai region of North China.

Starting in the summer, the TNWA and Grand Alliance will offer a combined service loop from Asia to the U.S. East Coast via the Panama Canal. Each alliance will contribute four vessels each for a total of eight vessels. This will be in addition to the TNWA's weekly APX and NYX all-water services via the Panama Canal. The port calls and rotations, which are still in development, will be announced shortly.

APL CEO Ron Widdows said: "These enhancements to our Trans-Pacific services are closely focused around the needs of our customers. Along with a broader choice of ports and more flexibility, this is about ensuring that we continue to provide the very best reliability in the industry and speed-to-market for our customers."

HMM Vice President Y.I. Song said: "We are pleased to provide our valuable customers with a more integrated service network this year, in particular, featuring PCX transformation into a four-vessel deployment with the best transit time of 10 days from Central China to Pacific Southwest region. HMM, with close cooperation with TNWA members, will continue to make every effort to meet our clients' various requirements in the market."

MOL (America) President and Chief Executive Officer, Osamu Suzuki, said: "Our new deployment will significantly enhance our direct service for the emerging trades between Dalian and gateways on the U.S. West Coast. At the same time, our alliance continues to strengthen key trade routes, such as Shanghai to Los Angeles, by adding the PCX to the current PS3 service for a total of two sailings per week."

Service Names

APX	Atlantic Pacific Express
NYX	New York Express
PCE	Pacific Coast Express
PCX	Pacific China Express
PNW	Pacific Northwest
PS1, PS2, PS3	Pacific South 1, Pacific South 2, Pacific South 3
PSW	Pacific Southwest
PSX	Pacific South Express
SAX	South Asia Express

New Service Rotations

PS1:

Laem Chabang (Su) - Singapore (Tu/We) - Yantian (Sa/Su) - Hong Kong (Su/Mo) - Seattle (Th/Sa) - Vancouver (Su/Mo) - Yokohama (We/Th) - Kaohsiung (Sa/Su) - Chiwan(Mo/Tu) - Laem Chabang (Sa)

PS2:

Xiamen (Sa) - Hong Kong (Su/Su) ? Chiwan (Su/Mo) - Kaohsiung (Tu/Tu) - Los Angeles (Fr/Tu) - Oakland (We/Th) - Yokohama (Mo/Mo) - Pusan (We/Th) - Xiamen (Fr)

PNW:

Kaohsiung (Sa) - Hong Kong (Su/Mo) - Yantian (Mo/Tu) - Shanghai (We/Th) - Pusan (Fr/Sa) - Tokyo (Su/Mo) - Tacoma (Mo/Tu) - Seattle (Tu/We) - Vancouver (We/Fr) - Tacoma (Fr/Sa) - Pusan (Tu/We) - Kwangyang (We/Th) - Kaohsiung (Fr)

PSW:

Yantian (Fr) - Hong Kong (Fr/Sa) - Kaohsiung (Su/Su) - Pusan (Tu/We) - Long Beach (Th/Mo) - Oakland (Tu/Tu) - Pusan (Su/Mo) - Kwangyang (Mo/Tu) - Yantian (Th)

PCX:

Ningbo (We) - Shanghai (We/Fr) - Pusan (Sa/Sa) - Los Angeles (Mo/Th) - Pusan (Mo/Mo) - Ningbo (Tu). From May to August, Oakland will remain in the port rotation after Los Angeles.

Unchanged Service Rotations

PCE:

Dalian (Sa) - Xingang (Su/Mo) - Qingdao (Tu/We) - Nagoya (Fr/Fr) - Yokohama (Sa/Sa) - Los Angeles (Mo/We) - Oakland (Th/Fr) - Yokohama (We/We) - Dalian (Sa)

PSX :

Hong Kong (Su) - Chiwan (Su/Mo) - Yantian (Mo/Tu) - Oakland (Fr/Fr) - Los Angeles (Sa/Tu) - Hong Kong (Su)

PS3 :

Shanghai(Mo) - Ningbo (Mo/Tu) - Kobe (Th/Th) - Tokyo (Fr/Sa) - Los Angeles (Su/Tu) - Vancouver (Fr/Fr) - Seattle (Sa/Sa) - Tokyo (Mo/Mo) - Nagoya (Tu/Tu) - Kobe (We/We) - Shanghai (Sa)

About APL
APL is a global container transportation company offering more than 60 weekly services and nearly 300 calls at more than 90 ports in Asia, Europe, the Middle East and North America. It combines world-class intermodal operations with leading IT tools and e-commerce. APL is a unit of Singapore-based Neptune Orient Lines (NOL), a global logistics and transportation company. APL Web site: www.apl.com

About HMM
As one of the affiliates of Korean Conglomerate, Hyundai Group, HMM will see in 2006 its 30th anniversary. Since its foundation in 1976, HMM has continuously striven to become a premier global shipping and logistics company. HMM is currently one of the top five Trans-Pacific carriers and one of the top 20 carriers in the global shipping industry with various sizes of ships for Trans-Pacific, Asia-Europe, Trans-Atlantic, and Inter-Asia trade. HMM Web site: www.hmm21.com

About MOL
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 (America) Inc. is a wholly owned subsidiary of Mitsui O.S.K. Lines, Ltd. (MOL), one of the world's largest multi-modal shipping companies. Please visit the company's website at www.MOLpower.com.