June 28, 2004

MOL Logistics (H. K.) Certified as CEPA Hong Kong Service Supplier
-- Enhance the business development in southern China --

TOKYO - MOL Logistics (Japan) Co., Ltd. (President: Kazuki Mori) today announced that its subsidiary, MOL Logistics (H.K.) Ltd. (Managing Director: Shigeki Kamaga), was certified as a Hong Kong Service Supplier under CEPA* by the government of the Hong Kong Special Administrative Region of the People's Republic of China, effective on June 14, 2004.

This certification covers five fields - logistics service, maritime transport service, storage and warehousing service, freight transportation by road in trucks or cars, and freight forwarding agency services. This allows MOL Logistics (H.K.) to establish a wholly owned subsidiary in China. The company will now begin application to the Chinese government to set up a subsidiary in Guangzhou city, Guangdong Province. The city is in the center of the Pearl River Delta Economic Zone, an area enjoying tremendous economic growth thanks to an expanding automobile industry and a new Baiyun Airport opening soon.

MOL Logistics (Japan) Co., Ltd., as a core total logistics company of the MOL Group, has worked to develop and expand its worldwide network, enhance its marketing and sales capabilities, and boost its competitiveness. It has continued to expand its network - opening a branch of its Shanghai subsidiary in Shenzhen in October 2003, and then the Guangzhou Representative Office of MOL Logistics (H.K.) early this month. Moving ahead from the certification of MOL Logistics (H.K.) as a Hong Kong Service Supplier under CEPA, the company will continue to focus its resources on the Chinese market, which still holds huge potential for growth, developing services such as inland truck transport. This marks a major step in the MOL Group's growth and expansion.

* CEPA: Closer Economic Partnership Arrangement, a free trade agreement signed in June 2003 between the government of the People's Republic of China and the government of the Hong Kong Special Administrative Region of the People's Republic of China.

* For further information, please contact:
MOL Logistics (Japan) Co., Ltd.
Yasuo Nishimura
General Manager, Planning and Marketing Dept.
Tel: 03-5295-1505; Fax: 03-5296-5751

MOL Logistics (H.K.) Ltd.
Yuji Manabe
Executive Officer
Tel: 852-2686-2388; Fax: 852-2636-6817

June 7, 2004

MOL Logistics (H. K.) Opens Guangzhou Representative Office

TOKYO - MOL Logistics (Japan) Co., Ltd. (President: Kazuki Mori) today announced that its subsidiary, MOL Logistics (H.K.) Ltd. (Managing Director: Shigeki Kamaga), has opened a new representative office in Guangzhou city, effective June 1.

Guangzhou is located in the center of the Pearl River Delta Economic Zone, an area enjoying tremendous economic growth. The city is a hub of road and rail transport, and its air gateway, Baiyun Airport, is one of China's busiest. This fall, construction will be completed on a new Baiyun Airport in the city's Huadu district. It is expected to become a hub airport for all of South China. IT-related industries have thrived in the area since the 1980s, and now major automakers have chosen this city as a production center for the South China market. These developments are creating huge demand for logistics-related services such as ocean shipping, inland trucking, and so on, as well as air transport. With the new office, MOL Logistics (H.K.) expects to open up a range of new business opportunities.

Future Approaches
MOL Logistics (Japan) Co., Ltd., as a core total logistics company of the MOL Group, has worked to develop and expand its worldwide network and enhance its marketing and sales capabilities and competitiveness.

MOL Logistics (H.K.) will soon be able to provide reliable scheduled consolidation trucking - which the company already offers on a charter basis - especially between Guangdong Province and Shanghai. What's more, MOL Logistics (WBLP) Co., Ltd., which will open in July 2004, will be the first company in China to offer value-added tax refund service - starting the refund process as soon as the cargo is delivered to the facility. To build on this function, the company is also planning a new bonded trucking service, to deliver cargo processed in eastern China directly to south China instead of through Hong Kong.

In addition, the company will draw on its Vendor Management Inventory (VMI) experience accumulated in Hong Kong and apply it to Guangdong's burgeoning automobile industry. At the same time, the company is working to significantly reduce the cost of services such as inspection and pricing, which used to be offered in Japan for imported products, by providing those services in inland China through tie-up with local partners.

The company continues to develop fine-tuned and continually evolving services as the customer's total logistics partner.

* For further information, please contact:
MOL Logistics (Japan) Co., Ltd.
Yasuo Nishimura
General Manager, Planning and Marketing Dept.
Tel: 03-5295-1505; Fax: 03-5296-5751

MOL Logistics (H.K.) Ltd.
Yuji Manabe
Executive Officer
Tel: 852-2686-2388; Fax: 852-2636-6817