MOL Joins UN Global Compact Exchange Meeting
Attended by Secretary-General Kofi Annan

May 25, 2006

TOKYO - Mitsui O.S.K. Lines, Ltd. (MOL) Director and Senior Managing Executive Officer Hidehiro Harada attended the May 18 meeting of Japanese member companies of the United Nations Global Compact, exchanging opinions with corporate leaders as well as UN Secretary General Kofi Annan, who was visiting Japan as a guest of the Foreign Ministry.

"The UN looks forward to more Japanese companies and groups supporting Global Compact principles and participating in our approaches in the future," Annan told the meeting.

United Nations Global Compact

The Global Compact resulted from Annan's advocacy to business leaders at the World Economic Forums in Davos in 1999 - join an international initiative that unites corporations with UN agencies, labor, and society to support 10 principles covering human rights, labor, the environment, and anti-corruption measures, for reducing the negative impact of globalization. Participating companies, as good corporate citizens, voluntarily create a global framework to realize sustainable growth by demonstrating responsible leadership through support and practice of the 10 principles. Until now, about 3,000 companies in 70 nations have responded to the call. From Japan, 44 nations and one city are members (as of May 2006). MOL agreed with the purpose, and joined in March 2005.

Responding to Secretary-General Annan's requests, MOL continues to support and practice the GC's 10 principles, while working to meet its corporate social responsibilities.

MOL's approaches

The MOL Group Corporate Principles set forth "contributing to global economic growth," "promoting an open and visible management style that is guided by the highest ethical and social standards," and "promoting and protecting our environment by maintaining strict, safe operation and navigation standards." The entire MOL Group is committed to following these principles, with tangible results.

[Reference]10 Principles of the Global Compact

Human Rights
Principle 1:	The support and respect of the protection of international human rights;
Principle 2:	The refusal to participate or condone human rights abuses.
Labour
Principle 3:	The support freedom of association and the recognition of the right to collective bargaining;
Principle 4:	The abolition of compulsory labor;
Principle 5:	The abolition of child labor;
Principle 6:	The elimination of discrimination in employment and occupation.
Environment
Principle 7:	The implementation of a precautionary and effective program to environmental issues;
Principle 8:	Initiatives that demonstrate environmental responsibility;
Principle 9:	The promotion of the diffusion of environmentally friendly technologies.
Anti-Corruption
Principle 10:	The promotion and adoption of initiatives to counter all forms of corruption, including extortion and bribery