MOL to Establish a new branch in Poland

March 27, 2007

TOKYO - Mitsui O.S.K. Lines, Ltd. (MOL, President: Akimitsu Ashida) today announced to the opening of a new company in Poland effective April 1, 2007. MOL (Europe) BV Sp. z.o.o. Oddzial w Polsce is a branch of MOL (Europe) BV and will principally handle their liner business. The new company will assume the duties currently handled by Vector Shipping as MOL's agent in Poland.

MOL had been expanding various ocean shipping businesses with Vector as its sole agent in Poland, but now deems it necessary to establish an agency with MOL Group capital in order to continue its expansion strategy in Poland, which is experiencing tremendous economic growth.

The new company aims to expand MOL's global network and increase business in East Europe overall, after the creation of MOL Austria (leading Central East Europe) and more recently the opening of a representative office in Russia (leading Russia and the Baltic States), by improving customer service and implementing cost reduction, under the supervision of MOL's subsidiary MOL (Europe) Region Centre, in Hamburg, which oversees operations throughout Germany and East Europe.

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