MOL Group to Consolidate Group Real Estate Business
- Integrating New Management Business -

May 25, 2007

TOKYO - Mitsui O.S.K. Lines, Ltd. (MOL, President: Akimitsu Ashida) today announced that MOL Group companies Daibiru Corporation and Mitsui O.S.K. Kosan Co., Ltd. will consolidate their real estate business, aiming to improve customer service and expand business operations. The move is part of the MOL Group midterm management plan MOL ADVANCE, aimed at enhancing group-wide strength and competitiveness.

Overview of business consolidation

Mitsui O.S.K. Kosan will allocate new shares to Daibiru as of July 5, 2007, and Daibiru will acquire more than 50% of Mitsui O.S.K. Kosan's issued shares to make its subsidiary.
Mitsui O.S.K. Kosan acquire 100% of the issued shares of ESCA Corporation and Kansai Building Maintenance Co., Ltd., and about 49% of Osaka All Service Corporation to make them subsidiaries or equity method affiliates.

*Osaka All Service Corporation will change its name to Daibiru Facility Management Co., Ltd., aiming to recruit and develop excellent facility management personnel.

Objectives of business integration/consolidation

MOL has integrated its real estate activities in Daibiru, for more effective utilization of Group-owned assets, since making Daibiru a subsidiary in October 2004. By consolidating businesses related to Daibiru and Mitsui O.S.K. Kosan, MOL will integrate the know-how of both companies, reduce costs, and increase the value of owned and managed assets, while offering higher-quality customer service. In addition, the consolidation of Daibiru and Mitsui O.S.K. Kosan will create new business opportunities by utilizing Mitsui O.S.K. Kosan's sales force, and Daibiru's know how in leasing and construction management.

Outlines of both companies(as of 31st March, 2007)