May 13, 2005

MOL Upgrades Japan/Asia-South Africa/ East Coast of South America Service

TOKYO - Mitsui O.S.K. Lines, Ltd. (MOL; President: Akimitsu Ashida) today announced an upgrade in the company's container service linking Japan/Asia, South Africa, and East Coast of South America.

MOL currently serves these regions through joint service with P&O Nedlloyd, but plans to dissolve that partnership and launch new joint service with Pacific International Lines (PIL) from mid-July. The new service will use a total of 11 containerships in the 2,800 TEU class.

In addition, MOL will increase the number of its vessels assigned to this service from six to eight to ensure a more stable supply of cargo space, and add calls at Shanghai and Shenzhen(*) to meet expanding demand for service in China's rapidly growing market.

Service will be further enhanced with a call at Durban, South Africa, on the westbound route, in addition to MOL's existing Asia-South Africa/West Africa service.

New Service Rotation

Kobe (Monday/Monday) - Yokohama (Tuesday/Wednesday) - Nagoya (Wednesday/Thursday) - Pusan (Friday/Saturday)
- Shanghai (Sunday/Sunday) - Shenzhen(*) (Tuesday/Wednesday) - Hong Kong (Wednesday/Wednesday)
- Singapore (Sunday/Sunday) - Durban (Friday/Saturday) - Santos (Sunday/Monday) - Buenos Aires (Thursday/Friday)
- Montevideo (Friday/Friday) - San Francisco do Sul (Sunday/Monday) - Paranagua (Monday/Tuesday)
- Santos (Wednesday/Wednesday) - Rio de Janeiro (Thursday/Friday) - Cape Town (Friday/Saturday)
- Port Elizabeth (Monday/Tuesday) - Singapore (Saturday/Sunday) - Hong Kong (Wednesday/Wednesday) - Kobe (Monday/Monday)

(*) Calling port in Shenzhen area will be announced soon

Vessels
MOL: 8
PIL: 3

Start of Service
Mid-July departure from Japan