Press Release

September 30, 2003

MOL Group's Logistics Company in China Opens Hangzhou Office

TOKYO - Mitsui O.S.K. Lines, Ltd. (MOL; President: Kunio Suzuki) today announced that Shanghai Huajia International Freight Forwarding Co., Ltd., an affiliate of its group company MOL Logistics (Japan) Co., Ltd., has opened an office in Hangzhou, Zhejiang Province of China. The new office started operations on September 23.

The move is a part of a groupwide strategic business plan called MOL next, which focuses on growth and expansion, and allocates management resources to fields where the company sees great potential for future growth. One of the key strategies of MOL next is to enhance the development of a global logistics network with MOL Logistics as the core.

Hangzhou is located in the Changjiang River delta economic area, which, led by Shanghai, is showing the fastest economic growth of any region in China. The city ranks as one of the most popular areas for foreign capital to set up their operations. Since more companies are expected to build factories in Hangzhou, which has a National Development Zone consisting of an Economic Technology Development Zone, a High-Tech Industrial Development Zone, and the Xiaoshan Technology Development Zone, there is a great need for total transportation services, including ocean shipping, air transport, and total logistics. Shanghai Huajia International Freight Forwarding will continue its efforts to win new business there.

MOL Logistics group companies, as the core logistics service providers of MOL Group, are aggressively expanding its worldwide network, sales capabilities, and competitiveness. In China, their Shanghai Huajia International Freight Forwarding Co., Ltd. marked a major step forward in August, when it acquired a first-class international freight forwarding agent's license from China's Civil Aviation Authority. The company will be able to meet customer needs throughout China with their smooth and flexible logistics services, and take advantage of new business opportunities resulting from China's membership in the World Trade Organization.

Profile of Shanghai Huajia International Freight Forwarding Co., Ltd.
Company name: Shanghai Huajia International Freight Forwarding Co., Ltd.
Representative: Chief Executive Officer Lu Zhiqiang
Address: Flat A-D, 13th Floor, Jiushi Fuxin Mansion,
No.918 Huai Hai Road (M), Shanghai, China
Founded: May 1999
Paid-in-capital: US$1.12 million
Number of employees:  107 (as of August 2003)
Offices: Headquarters in Shanghai, Beijing Branch, Tianjin Office, Qingdao
Office, Suzhou Office, and Hangzhou Office
Business: Air and ocean freight forwarding, logistics business including cargo consolidation service, third-party logistics (3PL), etc.
Licenses: Customs clearance, International Cargo Freight Forwarding Agent, and First Class International Freight Forwarding Agent

Shanghai Huajia International Freight Forwarding Co., Ltd.
Hangzhou Office, as newly set up


Room 802, World Trade Center,
No.15, Shuguang Road, Hangzhou, Zhejiang Province, China
Tel: 86-571-87630658, 87630390, 87630391, 87630392, 87630393
Fax: 86-571-87630577
Office Manager: Anne Ma
Number of employees: 3

For further information, please contact:

MOL Logistics (Japan) Co., Ltd.
Yasuo Nishimura
General Manager, Planning & Marketing Dept.
Tel: 81-3-5295-1505 / Fax: 81-3-5296-5760

Mitsui O.S.K. Lines, Ltd.
Masaya Yamada
Manager, Network Management Group, Logistics Business Division
Tel: 81-3-3587-7101 / Fax: 81-3-3587-7738

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