November 01, 2000  M.O. Air International, U.K. and Germany change their names to“MOL Logistics” M.O. Air System Inc., Japan (MOA) is pleased to announce that its UK and German subsidiaries,　 M.O. Air International (U.K.) Ltd. and M.O. Air International GmbH, will change their names to MOL Logistics (UK) Ltd. and MOL Logistics (Deutschland) GmbH, respectively, effective January 1, 2001. Objectives We established such wholly-owned subsidiaries in UK in 1988 and in Germany in 1989, which had been ever offering variety of freight forwarding, warehousing and truck transportation services to our clients since their foundation. Following the brand new names of our U.S. subsidiary,　 MOL Logistics (USA) Inc. in July and our affiliated organization, MOL Logistics (Netherlands) B.V. in October this year, we will further intend to continue upgrading our service quality in cooperation with the other MOA network throughout the world, and with the MOL’s (Mitsui O.S.K. Lines) network for global shipping services. Profile of the New Company (1)    Company Name MOL Logistics (UK) Ltd. MOL Logistics (Deutschland) GmbH (2)    Date of Rename January 1, 2001 (3)    Share Capital £400,000 DM1,050,000 (4)    Shareholder M.O. Air System 100 % (5)    Corporate 　　 Representative Managing Director Yasuo Nishimura Managing Director Jota Murokoshi (6) Main Business Air/Sea Freight Forwarding, Warehousing, Truck Transportation 　 For further information, please contact: M.O. Air System, Inc.　 rCargo Administrative Dept. Administrative Group Hachiro Fukuda (Mr.) Group Manage Tel : (03)5295-1505 / Fax : (03)5296-5760 e-mail : hachiro.fukuda@moa.co.jp M.O. Air System, Inc Corporate Planning Dept. Planning Group　 Shoichi Ozeki (Mr.) Group Manager Tel : (03)5295-1501 / Fax : (03)5296-5751 e-mail : shoichi.ozeki@moa.co.jp

June 29, 2000

M.O. Air Shizuoka, Inc

We are pleased to announce that M.O. Air System, Inc., Japan will establish a brand new company jointly with Seiwa Kaiun Co., Ltd., who is well established freight forwarders in Shizuoka- ken, Japan . The aims of our establishing this company are to provide our clients with high quality of services based on localized manner and knowledge on air freight forwarding which both of M.O. Air System, Inc and Seiwa Kaiun Co., Ltd. have been ever developing. 　The details of the company are as follows; Name of the company:: M.O. Air Shizuoka Inc. Address of Home Office 408-18 Aza Onbayashiwaki, Yokosuna, Shimikzu-shi Zip Code 424-0031 Tel 81-543-63-1730 Fax 81-543-63-1737 Date of Establishment June 14th, 2000 Date of Business Commencement July 1st ,2000 Shareholders M.O. Air System, Inc. 40% Seiwa Kaiun Co., Ltd 60% Officers CEO Mr. Souichiro Miyazaki Director Mr. Yoshinori Ozaki (non-active) Director & General Manager Mr. Shinichiro Oshio Director & General Manager Kenichi Takashima Auditor Hiroaki Horii Network Shimizu, Hamamatsu, Numazu Major Businesses Freight Forwarding, Multi Module Transportation Service, Indirect Carrier, Trucking Service, Customs Brokerage Service

The 10th Global Sales Meeting (after GSM 2000) was held in Singapore from May 22 to May 23 at Inter-Continental Singapore co-hosted by M.O. Air International (S’pore) Pte Ltd. 46 attendees from 20 countries took part in the GSM 2000. At first we had a general meeting at U-shaped table with all the attendees; presentation of newly opened offices & newly provided service and sales discussion on the target customers. After the general meeting, totally 23rd times of bi-lateral meeting was held for one and half day. All parties had a meeting with other parties than themselves, and discussed with each other about local sales matter between two countries.

Countries where attendee came from and the contents of the presentations are as follows: <Countries> 　USA, UK, Germany, Netherlands, France, Italy, Spain, Austria, Hong Kong, China, Taiwan, 　Thailand, Malaysia, Philippine, Indonesia, Australia, Vietnam, Korea, Singapore & Japan <Presentation> 　1. Newly opened office in Malaysia 　2. Relationship with MOL 　3. Cargo Tracking System 　4. Transshipment & Batam service 　5. Eastern Europe service   At the welcome reception at the 1st night, Mr. Ozaki, Senior MD of MOA/Japan awarded the top 3 offices for the sales activity in 1999, which were evaluated by each MOA office in advance. Top 1  MOA/HONG KONG 　Top 2  MOA/SINGAPORE Top 3  MOA/GERMANY The next GSM will be held in Malaysia in 2001. Comment List

Integration of
M.O. Air International, Inc. and AMT Freight, Inc.
in the United States of America

We, M.O. Air System Inc., now reorganize our global network and strengthen our foothold of competition and business throughout the world as one of the core companies of Mitsui O.S.K. Lines group. Followed by our European foothold (integrated as Wassing B.V. as January 1st, 2000 in the Netherlands), with the view of strengthening and expanding our system and functions in the U.S. businesses, we are pleased to announce that we will launch a new company called as MOL Logistics (USA) and fortify our logistics services in the United States, after we have integrated M.O. Air International, Inc. (hereinafter referred to as MAI), the U.S. unit of M.O. Air System Inc., and AMT Freight Inc.(AMT), a subsidiary of Mitsui O.S. K. Lines.

1. Profile of the New Company

Company Name:	MOL Logistics (USA) Inc.
Date of Integration:	July 1st, 2000
Share Capital:	US$4,314,000 expected (approximately 460 million yen)
Shareholders:	M.O. Air System, Inc. 65% Mitsui O.S.K Lines 35%
President/C.E.O.:	Haruo Nishitani
Number of Employees:	Number of Employees:
Number of Employees:	18 (New York(Headquarter), Los Angeles, Chicago,Atlanta, etc.)
Number of Warehouses:	10 (Total 43,000 sq. meters Battle Creek, Los Angeles,Chicago, etc.)
Major Businesses:	Ocean/Air Freight Forwarding, Warehousing, Truck Transportation, Arrangements for Through Transportation of Specialized Cargoes for Manufacturing Plants, International Moving, Traveling

2. Histories of MAI and AMT

MAI was founded in 1963 and developed its businesses on various fields such as airfreight forwarding as its core business, and warehousing, trucking, overseas moving 　and etc. On the other hand, AMT was founded in 1985 focusing sea freight forwarding as its main business. AMT has now been developing warehousing and trucking businesses after building up multi-purpose distribution center in Battle Creek in Michigan in 1991. With this integration of both MOA and AMT, we will unify to the new company management resources and logistics function held by Mitsui O.S.K Lines group in the North American region, and will strengthen our organization and system to attain efficient management foothold. Therefore, we aim to manage sales intensified and meet our customers' diversified needs for logistics fields.

3. Expecting in Future

Organically integrated AMT and MAI will develop its businesses using IT (information technology) for custom brokerage, custody, distribution, processing, delivery and, etc. as one of the international integrated forwarders to meet demands in ocean, ground and air freights services. Therefore, we reorganize ourselves and develop our flexible and rapid services to support our customers' logistics demands in general as well as to meet our customers' diversified needs.

Please contact us if you have any questions as follows:

Shoichi Ozeki
Planning Group Manager
Management Planning Section
M.O. Air System Inc.
Tel: 03-5295-1501
Fax: 03-5296-5751

Amsterdam Schiphol airport office of

M.O. Express International B.V. is completely

closed on 28.APR(FRI).

Since January, only Mr.Tsujino, former M.D. stays

M.O.Express office to take care of audit for 1999,

however, new tenant will come from next week.

All telephone and fax number of M.O. Express/AMS

will be disconnected and not in use any more