ANA and Japan Post Announce New Airline
- ANA & JP Express launches February; first flights August -
- New partners Nippon Express and Mitsui O.S.K. Lines announce participation -

　 　　　　

　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　

　TOKYO January 30, 2006 ANA and Japan Post today announced that their new joint venture cargo airline - which is to be named ANA & JP Express, or AJV - will be established in February this year, with flights planned to commence in August this year.

The airline will initially be 100% wholly-owned by ANA, with Japan Post planning to take its stake from April, subject to approval by the Japanese government. Also joining the partnership at that time will be Nippon Express, Japan's largest global logistics enterprise, and Mitsui O.S.K. Lines (MOL), a shipping company offering a full range of shipping services. Following their investments in April ANA is expected to become the majority shareholder with a 51.7% interest, Japan Post holding 33.3%, Nippon Express 10% and MOL 5%.
　
Nippon Express is expected to lend its expertise in international logistics to contribute to the marketing planning of the new airline, as well as feeding cargo to the new airline. MOL's interest is expected to lie in future co-operation with the new airline in the international logistics field in general.

ANA & JP Express will be headed by Mr Kenkichi Honbo, at present ANA Senior Vice President Cargo Marketing and Services.

"This is a great step forward for ANA as we move to truly establish cargo as the third pillar of our business," said ANA President and CEO, Mineo Yamamoto, speaking on behalf of all four parties. "We are delighted to work with Japan Post and welcome onboard our new partners Nippon Express and Mitsui O.S.K. Lines - with our combined know-how and experience, I have every confidence that we can achieve our business goals, which are to provide high quality, competitive express courier and general air cargo services," he said.

ANA& JP Express will operate using ANA's fleet of Boeing 767 freighters, which currently comprises three aircraft. Four more are expected to be delivered by October 2008, three of which will be converted versions of ANA 767 passenger aircraft.

About ANA & JP Express
President Kenkichi Honbo
Date of Establishment February 1, 2006 (expected)
Start of operations August 2006 (expected)
Paid-in Capital \30 million
Shareholders *ANA 51.7%
*Japan Post 33.3%
*Nippon Express 10%
*Mitsui O.S.K. Lines 5%
Main businesses 1) Scheduled international cargo transportation
2) Non-scheduled international cargo transportation and freighter aircraft operations
3) air cargo agency services
*Investment by Japan Post is subject to Japanese government approval and will take place in April, as will that of Nippon Express and Mitsui O.S.K. Lines. Until that point ANA will be the sole shareholder

** ANA & JP Express will be established as the air cargo arm of Air Japan, and ANA Group airline

About ANA
President and CEO Mineo Yamamoto
Date of Establishment December 27, 1952
Paid-in Capital \111.5 billion
Employees 12,091
Main businesses Scheduled air transportation
Non-scheduled air transportation
Other aircraft operations
Incidental operations
Passenger fleet 188 aircraft
Cargo fleet 3 aircraft
International routes 35; 488 flights per week

About Japan Post
President Masaharu Ikuta
Date of Establishment April 1, 2003
Paid-in Capital \1.2688 trillion
Employees 261,937
Main businesses Postal Service
Postal Savings Services
Postal Life Insurance Services
Post offices 24,678
EMS (priority int'l mail) (outbound) 9.35 million items (fiscal year 2004)
(inbound ) 5.51 million items (fiscal year 2004)

About Nippon Express
President Masanori Kawai
Date of Establishment October 1, 1937
Paid-in Capital \70.1 billion
Employees 65,321 (consolidated base)
Main businesses Transportation Business
Air freight forwarding business
Vessel utilization transportation business
Railway utilization transportation business
No of offices Japan: 1,087; overseas 301 offices in 35 countries
No of vehicles cars: 24,767; heavy haulage and construction: 5, 822
　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　
About Mitsui O.S.K. Lines
President Akimitsu Ashida
Date of Establishment December 28, 1942
Paid-in Capital \64.9 billion
Employees 7,385 (consolidated)
Main businesses International ocean transportation
Total logistics
Ferry operations & Japan coastal services
Associated business
No of operating vessels 646