Incident Situation Update: Crude Oil Tanker Bright Artemis

September 19, 2006

Tokyo - Mitsui O.S.K. Lines, Ltd. (MOL, President: Akimitsu Ashida) today reported that the company conducted follow-up monitoring surveys of oil spilled from the tanker Bright Artemis. The last survey was completed on September 12, and MOL received a report from oil spill control and response experts who led an aerial survey from a chartered airplane. Infinitely thin oil sheens, which were considered to be spilled from the Bright Artemis were observed on the high sea, 30 miles (55km) or more south of Great Nicobar Island^*, but slicks are drifting further south to southeast, and will dissipated soon with no possibility of reaching any coast or shoreline.

Furthermore, Maritime Disaster Prevention Center and JGI, Inc., which analyzed satellite data taken in the same area at nearly same time of the day, could no longer observe any oil slick originating from the Bright Artemis.

Based on this research, the company received approval from the Indian Coast Guard to terminate the monitoring and oil removal countermeasures on September 14.

Taking this opportunity, the company wishes to express its deep appreciation to the Indian Coast Guard for its assistance and to other concerned parties for their support and cooperation on this incident. Also the company apologizes sincerely for any anxiety caused by the incident.

* Great Nicobar Island: The largest island of the Nicobar Islands in the eastern Indian Ocean