MOL Starts Onboard Training aboard the SPIRIT OF MOL

July 23, 2007

TOKYO - Mitsui O.S. K. Lines, Co., Ltd. (MOL, President: Akimitsu Ashida) today announced that its training vessel the SPIRIT OF MOL, launched on July 1, started onboard training of the first trainees in Manila, one of the company’s main base of human resource, on July 16.

On July 20, an onboard reception was held with about 100 guests, including ARTURO D. BRION, Secretary of Department of Labor, HON. ALFREDO S. LIM, Mayor City of Manila Philippines and Employment in the Philippines and others from Philippine maritime administration and manning companies. Soichi Hiratuka, Executive Officer and Deputy Director-General of the Safety Operations Headquarters, represented MOL Guests including onshore support personnel, seafarers, and trainees expressed their high expectations for the success of the SPIRIT OF MOL and its training mission.

The SPIRIT OF MOL left on its first training voyage today, with about 70 Filipino and Russian trainees. The trainees will start an intensive education curriculum (three to six months) which is unique to MOL 33 seafarers and 7 experienced instructors, selected from our main base of human resource countries (the Philippines and Russia), are also onboard. The company plans to conduct most of the training voyages between the Philippines and India in the future.

MOL continues to expand its fleet under the midterm management plan MOL ADVANCE set forth in March 2007, and plans to have 1,000 vessels by March 2010. To recruit and develop excellent seafarers who will maintain safe operation of its growing fleet, the company offers an exclusive MOL training program at 13 crew training centers around the world including the MOL training centers.

The company reinforces the education and training of its cadets by combining the training center education and practical skill building aboard the SPIRIT OF MOL.