MOL Opens Middle East Office

April 03, 2006

TOKYO-Mitsui O.S.K. Lines, Ltd. (MOL, President: Akimitsu Ashida) today announced the opening of the MOL Middle East Headquarters in Dubai, effective on April 1. The company has been involved in an increasing number of projects in the Middle East, many of them focusing on the region's abundant natural resources such as oil and gas. Imports and exports in the product sector - containerized cargo and completed cars - are also growing rapidly. Economic growth in the area is expected to accelerate after the integration of Gulf markets and free trade agreements involving nations inside and outside the region. Energy resource transport to India and China are also expected to increase.

The new office will work to develop a foundation that allows MOL to more promptly meet customer needs for ocean transport services and to strengthen ties with companies and organizations in the Middle East.

In February 2006, MOL established the Middle East Business Committee, consisting of nine executive officers under the supervision of the Executive Committee. The MOL Middle East Headquarters, which reports to the Tokyo Head Office, cooperates with the Middle East Business Committee to oversee operations in 23 Middle Eastern nations:

Profile

Location	Dubai, UAE
Opening	April 1, 2006
Personnel	Six including Senior Representative and three Representatives Senior Representative will be assigned end June, 2006 by official announcement Three representatives of the company residing in Dubai, Doha, and Muscat were assigned as Representatives as of April 1, 2006.
Territory	23 Nations:  Afghanistan, Algeria, Bahrain, Egypt, Iran, Iraq, Israel, Jordan, Kuwait, Lebanon, Libya,Mauritania, Morocco, Oman, Palestine, Qatar, Saudi Arabia, Sudan, Syria, Tunisia,Turkey, UAE, Yemen
Responsibilities	A key policy of the MOL Group's mid-term management plan MOL STEP is to increase business in high-growth markets around the world. Under this policy, the company aims for further growth in the following transport businesses: Transport of energy resources such as gas, petroleum, petrochemicals, etc. Transport of products such as containerized goods and completed vehicles Transport of large-project cargo