April 3, 2002



MOL Expands Trans-Atlantic Service
-- Additional coverage of Bremerhaven, Savannah, and acceptance of westbound cargo bound for Halifax and Los Angeles --



Concord, CA - MOL is expanding its Trans-Atlantic service profile with the addition of calls at Bremerhaven, Savannah, and Los Angeles on the carrier's APX Service and a westbound call at Halifax on the company's ATN Service. MOL will soon offer direct, weekly, fixed-day calls at Bremerhaven on all three of its Trans-Atlantic strings and, via Halifax, provide a strategic link to Eastern Canada, as well as rail connections to all key Canadian and Northern U.S. markets.

"Bremerhaven is one of the top three load and discharge ports for Trans-Atlantic commerce. Including Bremerhaven in the port rotation for all three of our Trans-Atlantic strings gives MOL the flexibility to provide our customers with reliable, as well as increased service choices," said Ray Keene, EVP / COO, MOL (America) Inc.

Bremerhaven will be integrated into MOL's APX rotation with the sailing of the APL Topaz V. 106ET, which sails from New York on April 4, 2002 and arrives in Bremerhaven on April 13. MOL anticipates that the eastbound call at Savannah and westbound call at Los Angeles, which will replace the current westbound call at Oakland, will be added to the APX port rotation in May and June respectively. MOL will announce shortly when it will begin accepting cargo for these soon to be added port calls.

The new eastbound APX port rotation will be: Manzanillo (Panama), Miami, Savannah, Charleston, Norfolk, New York, Rotterdam, Bremerhaven, Felixstowe, Le Havre and the westbound leg will be, Rotterdam, Bremerhaven, Felixstowe, Le Havre, New York, Norfolk, Charleston, Manzanillo (Panama), and Los Angeles.

In addition to increasing service frequency, MOL's APX service will feature highly competitive transit times between the U.S., Panama and Bremerhaven. Eastbound, the APX will reach Bremerhaven in 9 days from New York, 11 days from Norfolk, 13 days from Charleston, 14 days from Miami, and 17 days from Manzanillo (Panama). Westbound service from Bremerhaven will reach New York in 9 days, Norfolk in 11 days, Charleston in 12 days and Manzanillo (Panama) in 16 days.

"The addition of Halifax to the westbound leg of our ATN service will broaden our coverage of North America. Halifax is a gateway for trade between Europe, Canada and the Northern U.S. Halifax offers our European customers easy access to vital Eastern Canadian markets, as well as strategic rail and road connections to all of Canada's major inland markets. It also provides another service option for Trans-Atlantic cargo destined for the Northern and Central U.S.," said Keene.

MOL will l begin accepting cargo destined for Halifax with the sailing of the Madison Maersk V007W from Rotterdam on April 14, 2002, arriving at Halifax on April 20, 2002. The eastbound ATN port rotation will be: Miami, Charleston, Newark, Le Havre, Felixstowe, Bremerhaven, Rotterdam and the westbound leg will be Le Havre, Felixstowe, Bremerhaven, Rotterdam, Halifax, Newark, Norfolk, Charleston, Pt. Everglades.

MOL's ATN service to Halifax will also offer highly competitive transit times from all key Northern European load ports. MOL's ATN Service will reach Halifax from Rotterdam in 6 days, from Bremerhaven in 8 days, from Felixstowe in 10 days, and from Le Havre in 11 days.

"The extended coverage of Bremerhaven and the addition of Halifax strengthens our service offerings to our customers and enables us to continue to responsibly increase MOL's market share in the Trans-Atlantic trade," concluded Keene.

MOL is one of the world's largest multi-modal shipping companies. MOL currently offers three weekly, fixed-day services between North America and Northern Europe via its ATN, ATS, and APX services. Additionally, MOL is a founding carrier partner in GT Nexus, an e-logistics solutions company. Please visit the company's website at www.molpower.com.