MOL Marks Steady Progress on New Container Terminal in Jacksonville
-- Major Companies'Logistics Centers Move in Nearby --

June 30, 2006

TOKYO - Mitsui O.S.K. Lines, Ltd. (MOL, President: Akimitsu Ashida) today issued a progress report on the company's planned new container terminal in the port of Jacksonville, Florida, noting that a succession of major manufacturers, general merchandisers, and logistics companies decided to locate their logistics centers in the surrounding area. Jacksonville Port Authority (JAXPORT) and the local community have high expectations for MOL's new terminal, which will create an estimated 5,600 jobs, including those in associated businesses.

In late May, MOL President Ashida visited the construction site of the planned terminal to check on its progress, and held a lively exchange of views with Jacksonville Mayor John Peyton and JAXPORT officials. He got a fresh reminder of how important the project is to the community.

Construction planning is well under way. In July, JAXPORT will start selection of the terminal constructor, and the construction is slated to start in September. MOL and TraPac Inc., MOL's wholly-owned subsidiary, which will operate the new terminal, continue to strengthen their cooperation with the JAXPORT, moving towards the start of the terminal operation in early 2008.

*MOL reached agreement with JAXPORT for the terminal project in July 2005, and held the signing and groundbreaking ceremonies in August (officially announced on August 5, 2005).

[Reference]Outline of new terminal

Name	TraPac Jacksonville Terminal
Location	Dames Point area in the Port of Jacksonville, Florida, U.S.A.
Total floor area	Approx.160 acres (approx.650,000m2)
Length of pier	Approx.2,400 feet (approx.730m)
Equipment	6 gantry cranes, 6 transfer cranes, and others
Operator	TraPac, Inc. will operate the terminal, drawing on know-how gained in operating West Coast terminals in Los Angeles and Oakland
Schedule	Operations are slated to begin in early 2008