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August 19, 2010

Two MOL Vessels Enrolled in
Environmentally-Friendly Fuel Program

The environment and public health in New York and New Jersey stand to benefit as a result of yesterday's announcement by Mitsui O.S.K Lines (MOL; President Koichi Muto) that it has voluntarily enrolled two of its vessels, the MOL Endowment and MOL Experience, in the Port Authority of New York and New Jersey Ocean Going Vessel Low Sulfur Fuel program. MOL is one of the first ocean carriers to enroll in the Low Sulfur Fuel program, and is the first of the Japanese carriers to do so.

The program provides incentives to operators of ocean vessels to utilize low-sulfur fuel in their main propulsion and auxiliary engines instead of bunker fuel known as Intermediate Fuel Oil 380. Switching to low-sulfur fuels reduces emissions of fine particles as well as carbon dioxide, nitrogen oxides, and nitrous oxide and contributes to the improvement of the environment.

Although MOL will incur an incremental cost as a result of using the more expensive Low Sulfur Marine Fuel instead of Intermediate Fuel Oil 380, the company determined the program is worth the investment.

"MOL saw the program as an opportunity to maintain our commitment as a responsible corporate citizen and to increase efforts in implementing our environmental policy," said Toshiya Konishi, Chief Operating Officer, MOL Liner. "MOL is committed to protecting the health of our marine/global environment and we seek to reduce the burden on the environment by setting and achieving tough voluntary environmental standards. We offer our thanks to the Port Authority for establishing the Low Sulfur Fuel program."

For further information about MOL's environmental policies, please see the carrier's CSR/Environment website at www.mol.co.jp/csr-e. For further information about the low sulfur fuel program, please see the Port Authority of New York and New Jersey website at www.cleanfuelincentive.org.

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