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NYK Launches NYK Logistics (Asia) Pte Ltd

August 11, 2003

Nippon Yusen Kaisha (NYK Line) is pleased to announce the establishment of NYK Logistics (Asia) Pte Ltd, as of August 1^st, 2003 in order to further carry out NYK's Logistics Strategy Plan for expansion into logistics business.

NYK Logistics (Asia) Pte Ltd is based in Singapore and has a capital of S$ 1,000,000. The management structure of the company consists of Mr. Y. Hirano as Chairman and Mr. T. Akabane as MD/CEO supported by ten other officers and staff members.

The new company's primary mission is to set up a single window point of contact for supplying total integrated logistics services including, but not limited to, ocean transport, warehousing and distribution, based on highly visible information technology. The company will be offering a full range of supply chain management and other value-added services throughout the south Asia region by coordinating NYK group companies. It also assumes responsibility as regional head-quarters for NYK's logistics operations in the region.

The establishment of NYK Logistics (Asia) Pte Ltd follows NYK Logistics (Americas) Inc. being in operation since early last year as well as NYK Logistics (Europe) Limited since January this year. This move signifies NYK's commitment to be a world-class logistics solutions provider on a global scale.