October 11, 2002

MOL To Receive Ford's Q1 2002 Award for Global
Transportation of Motor Vehicles

TOKYO Mitsui O.S.K. Lines, Ltd. (MOL), Car Carrier Division, based in Tokyo, Japan is to be the recipient of the prestigious Ford's Q1 2002 Award. MOL will receive Ford's Q1 2002 certification for "Global Marine Transportation Service," which affectively covers global movements of finished motor vehicles. Ford Motor Company will formally present the award to MOL at a ceremony scheduled later this year in Dearborn, Michigan.

"We are honored to have been selected to receive Ford's Q1 2002 certification," said Setsuyasu Hagiwara, Executive Officer for MOL. "MOL works diligently to consistently maintain a high level of operational quality throughout our global network. We are pleased to have met the expectations of Ford Motor Company, who is a key strategic customer."

Ford's Q1 2002 certification recognizes supplier facilities and organizations whose quality system meets stringent prerequisites and who have achieved a sustained level of excellence in quality management.

"Meeting the requirements of Ford's Q1 2002 certification confirms the effectiveness of MOL�fs quality management system," said Paul Carlton, President of MOL Bulk Shipping (USA) Inc. �gOur management system was developed to optimize our responsiveness and structured with the flexibility to promote continuous improvement, thus ensuring we meet Ford's future requirements."

MOL operates one of the largest and most diverse networks of multi-modal shipping and logistics services in the world. Founded in 1884, MOL's fleet consists of approximately 500 vessels, from containerships to specialized vessels. MOL currently operates a fleet of around 70 Car and Ro-Ro type vessels and is a leading provider of global vehicle transportation services, handling over 20% of the total worldwide volume. MOL's Car Carrier Division has been ISO 9001:2000 certified since June 1, 2001.