August 1, 2002



MOL Integrates Crew Manning Operations in the Philippines


TOKYO-- Mitsui O.S.K. Lines, Ltd. (MOL, President Kunio Suzuki) today announced the integration of the crew manning operations which were conducted in the companyfs two crew manning companies in the Philippines, a follow-up to the merger between MOL and Navix Line on April 1, 1999.

 MOL has focused considerable effort on recruiting and training top-quality crews, which are critical to efficient operation, vessel safety, and environmental protection. Strengthening group wide management efficiency through reorganization and integration is an important element of MOL next, the companyfs mid-term management plan. The reorganization of crew manning operations in the Philippines is one of those tasks.

Profile

Company name: Magsaysay - Mitsui O.S.K. Marine, Inc.
Address: Magsaysay Bldg., 520 T.M. Kalaw S.T., Ermita, Manila, Philippines
Date of integration: August 1, 2002
Directors:  Doris Magsaysay Ho
Akimitsu Ashida (based in Tokyo) (Senior Managing Director of MOL)
Eduardo U. Manese
Conrad N. Dela Cruz
Kazuyuki Nishimura
Number of vessels served: 112
Number of crews on board: 2,041

Background

The Philippines supplies more mariners to the worldfs merchant fleet than any other country.  MOL is active in recruiting, training, and assigning Filipino crew members to its fleet. In February 2002, MOL combined its crew training facilities in the Philippines at the MOL Training Center (Philippines) to improve efficiency and ensure a higher level of training. Now, by integrating crew manning operations of Mitsui O.S.K. Lines Maritime (Phils.) Inc into Magsaysay-Mitsui O.S.K. Maritime, Inc, MOL will be able to improve cost competitiveness, reorganize its management resources properly, and enhance its system for providing excellent crews. Expanded Magsaysay ? Mitsui O.S.K. Marine will ensure and contribute to safe operation of MOL Fleet.