February 10, 2005


MOL Group to Transfer Real Estate to Daibiru Corporation


TOKYO-Mitsui O.S.K. Lines, Ltd. (MOL; President: Akimitsu Ashida) today announced that the company and its subsidiaries Mitsui O.S.K. Kosan Co., Ltd. and Mitsui O.S.K. Techno-Trade, Ltd., would transfer some MOL and MOL Group real estate to Daibiru Corporation. The properties to be transferred include the MOL head office building (Toranomon Shosen Mitsui Building) in Tokyo's Minato Ward.

Through a tender offer in October 2004, MOL increased its share of Daibiru to 51% to make it a consolidated subsidiary. The company positions Daibiru as the core of the MOL Group's real estate business. This transfer aims to maximize group profits by making the most of Daibiru's extensive know-how in property management and rentals. In addition, MOL will lease back its current office space in the Toranomon Shosen Mitsui Building from Daibiru.

1) Real estate to be transferred

Name Owner Location total floor area
Office building
Toranomon Shosen
Mitsui Building		 MOL Minato Ward, Tokyo 4,674m2/34,655m2
Apartment complexes
Lanterna Sano MOL Shinagawa Ward, Tokyo Total of five properties

7,550 m2/ 11,835 m2
Lanterna Noge MOL Setagaya Ward, Tokyo
Lanterna Nishiogi MOL Suginami Ward, Tokyo
Lanterna Koishikawa Mitsui O.S.K. Kosan Co., Ltd. Bunkyo Ward, Tokyo
Line House Aoki Koen Mitsui O.S.K. Techno-Trade, Ltd. Kawaguchi city,
Saitama Prefecture


2) Transfer period: Late March 2005

3) Outline of Company to which properties will be transferred

Company name Daibiru Corporation
Main business Real estate rental
Foundation date October 1923
Address 3-6-32 Nakanoshima, Kita-ku, Osaka city.
Representative President Tadakuni Hirose
Paid-in-capital 12,227 million yen (as of September 30, 2004)
Major shareholders Mitsui O.S.K. Lines, Ltd.
Mitsui Sumitomo Banking Corporation
The Chase Manhattan Bank N.A. London
(as of September 30, 2004)
Relationship with MOL Consolidated subsidiary


4) Loss resulting from transfer and affect on consolidated financial results
A special loss of about 20 billion yen is expected to result from this transfer during FY2004, ending March 31, 2005. The amount of this special loss is already included in the forecast for FY2004 announced on February 10, 2005.