December 5th, 2005

MOL and "K" Line to Launch Joint Container Service Connecting
Asia, Mexico/South America West Coast

TOKYO - Mitsui O.S.K. Lines, Ltd. (MOL, President: Akimitsu Ashida) and Kawasaki Kisen Kaisha, Ltd. ("K" Line, President: Hiroyuki Maekawa) today announced a new joint service called New Andes that will link Asia, Mexico, and the West Coast of South America in April 2006.

The companies, along with Royal P&O Nedlloyd N.V. (P&O Nedlloyd), currently serve this trade through a joint service that will be dissolved next April when the new service is launched.

MOL and "K" Line will provide weekly service with nine containerships in the 2000 TEU class. The new service allows MOL and "K" Line to provide sufficient space to cater to demand of this growing trade while improving customer services.

The companies are now selecting calling ports for the new service, with the goal of enhancing connections to Asia, especially the rapidly growing Shanghai and Chinese market, while serving established ports on the Mexican and South American West Coast.