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President Arroyo Attends Cornerstone-Laying Ceremony for New Maritime College in the Philippines

November 28, 2005

Nippon Yusen Kaisha (NYK) and its business partner Transnational Diversified Group held a cornerstone-laying ceremony on November 26 for their new maritime college.

Around 200 people attended the event, including Ms. Gloria Macapagal-Arroyo, president of the Philippines; Mr. Fidel Ramos, former president of the Philippines; Philippine government officials; and Mr. Koichiro Yamazaki, Japanese ambassador to the Philippines. The ceremony was held in a dignified manner, and prayers were offered for a safe construction process and the success of the new college.

Mr. Jiro Nemoto, honorary chairman of NYK, and Mr. J. Roberto C. Delgado, chairman and chief executive officer of Transnational Diversified Group, proclaimed the name of the college to be the NYK-TDG Maritime Academy.

With the expectation of an increased need for crew members as shipping demands increase, there is an urgency to recruit and train highly skilled individuals to man NYK's vessels. Therefore, NYK and TDG decided to establish this maritime college, which will educate and train future crew members during their school years so that they will not only be able to handle issues involving management but will also gain practical on-the-spot knowledge that is required on board vessels.

NYK and the Transnational Diversified Group are making day-to-day progress toward the opening of the college in June 2007.

---Brief Overview of the NYK-TDG Maritime Academy---
Opening : June 2007
Size : 60 students for courses in navigation
60 students for courses in engineering
A total of 120 students in each grade
Approximately 30 instructors (including part-time instructors)
Site : Canlubang (approximately a one-hour drive from Manila)
System : Three years of classroom work in addition to one year of onboard training
Philosophy : To provide higher education that fosters highly skilled crew members through training and character-building activities so that crew members can acquire the practical knowledge required to be internationally competitive.

---Transnational Diversified Group---

The Transnational Diversified Group was established by Mr. J. Roberto C. Delgado, chairman and chief executive officer, in 1976 and currently consists of more than 30 companies.

At first, the group was mainly involved in agent recruiting and training operations. However, recently the group has been expanding business operations by establishing agencies for air-transportation businesses and logistics. The number of group employees exceeds 11,000, including office employees and crew members.

The group has been engaged in business with NYK since TDG's establishment in 1976 and NYK and TDG have developed a cooperative relationship over the years as partner companies in the Philippines.

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