April 21, 2005

MOL Logistics Subsidiary Opens Guangzhou Branch

TOKYO - MOL Logistics (Japan) Co., Ltd. (President: Kazuki Mori) today announced that its subsidiary, Shanghai Huajia International Freight Forwarding Co., Ltd. (Chief Executive Officer: Preston Lui) will open a branch in Guangzhou, Guangdong Province, China, effective on May 8, 2005.

Guangzhou's logistics infrastructure has been developed rapidly thanks to the opening of Guangzhou Baiyun Airport and development at Huangpo port, and other neighboring ports.

The opening of the new Guangzhou Branch allows the company to offer domestic logistics services in China utilizing the MOL Logistics network, which now covers 13 cities in China. In addition, it can provide a range of services for international cargo arriving/departing at Hong Kong and Guangzhou Province.

MOL Logistics (Japan) has also boosted the competitiveness of its sales force and expanded its logistics network all over the world as the MOL Group's core logistics company. To serve China's domestic logistics market, the company will offer just-in-time (JIT) services to customers and plans to launch regular consolidated trucking services linking south, east, and north China, and expand its warehousing services that indirectly support logistics between southern and northern regions. MOL Logistics (Japan) continues to offer high-quality, fine-tuned services as its customers' total logistics partner.

Profile of Shanghai Huajia International Freight Forwarding Co., Ltd. Guangzhou Branch

Address	Unit-E, 14/F, Xinyu Building, No.81 Nonlin Xia Road, Dongshan ward, Guangzhou, China
Tel/Fax	Tel: (020) 6128-3770     Fax: (020) 6128-3825
Start of operation	May 8, 2005
Representative	Isao Oiwa

The MOL Logistics network in China includes 13 offices: Hong Kong, Shanghai, Beijing, Shenzhen, Zhangjiagang, Tianjin, Qingdao, Suzhou, Hangzhou, Guangzhou, Dalian, Ningbo, and Xiamen

For further information, please contact:

MOL Logistics (Japan) Co., Ltd.
Katsuji Kobayashi - Group Manager, Project Development Department
TEL:81-3-5295-1582     FAX:81-3-5295-1551
E-mail: katsuji.kobayashi@mol-logistics.co.jp

Shanghai Huajia International Freight Forwarding Co., Ltd.
Masami Yamamoto - General Manager
TEL:86-20-6415-9392   FAX:86-20-6415-8169
E-mail :masami.yamamoto@mol-logistics.com.cn

April 20, 2005

Dear Our Valued Partners,

Relocation Notice

We are pleased to announce that MOL Logistics (Japan) Co., Ltd., Head Office in Tokyo will move to new office effective Monday May 2.

Our new address will be as follows:

Our new numbers will be: (effective May 2, 2005)

Dept.	Group	Tel	Fax
Project Development	Global Marketing	+81-3-5282-1207	+81-3-5259-4371
Accounting	Overseas Accounting	+81-3-5282-1206
Sales Support & Admin.**	Administration	+81-3-5282-1300	+81-3-5259-4373
Ocean Transport	Export	+81-3-5282-1209	+81-3-5259-4375
	Import	+81-3-5282-1218
Import Forwarding***		+81-3-5282-1371	+81-3-5259-4380
Import Customs Clearance Sales***		+81-3-5282-1372

*Our e-mail addresses remain unchanged.
**For any inquiries of air shipment ex TYO, please contact Sales Support & Admin. Dept.
***Please send your pre-alert for air shipment to TYO: cgo.imp-adv@mol-logistics.co.jp

Please relay it in your office and update your record accordingly.
Thank you very much for your attention.

Yours sincerely,