MOL Announces 10th Unsecured Corporate Bond Issue

December 12, 2008

TOKYO - Mitsui O.S.K. Lines, Ltd. (MOL, President: Akimitsu Ashida) today announced the company's 10th domestic unsecured straight bond issue as outlined below:

1.Total amount of issue	: 15 billion yen
2.Interest rate	: 1.428% per year
3.Issue price	: 100 yen per face value of 100 yen
4.Issue date	: December 19, 2008
5.Maturity date	: December 19, 2013　(5-year bullet bond)
6.Interest payment date	: June 19 / December 19
7.Use of funds	: To refund and repay existing bank loans and commercial papers (CP) for vessel investment.
8.Lead manager / underwriters	: Nomura Securities Co., Ltd., Daiwa Securities SMBC Co., Ltd., and Mizuho Securities Co., Ltd.
9.Fiscal agent	: Sumitomo Mitsui Banking Corporation

This issue is the first since the ninth bond issue (10 billion yen) in March 1997.