News Releases in 2006

June 2, 2006

Nippon Yusen Kaisha (NYK) has decided to enter into a partnership with Vietnam Maritime University to establish a program that will annually enlist five graduates each from the university's navigation and engineering courses for training as cadets on board NYK-operated vessels for a period of 12 months.

On June 1, Dr. Dang Van Uy, president of Vietnam Maritime University, visited the NYK office in Tokyo and reached a partnership agreement with Captain Takao Manji, senior managing corporate officer.

One of the three strategies of NYK's medium-term management plan calls for the expansion of the company's maritime business. To achieve this target, the NYK Group intends to expand its fleet to 880 vessels by 2010, making it necessary to recruit approximately 200 seamen as cadets each year. Accordingly, NYK is taking positive steps to secure and train excellent seamen both at home and abroad in partnership with mercantile marine universities in various countries.

The latest agreement with Vietnam Maritime University forms part of this stepped-up effort, following the establishment of NYK courses in cooperation with two Indian maritime institutes in February this year.

In addition to the onboard training program to be newly created for Vietnam Maritime University, NYK will sponsor scholarships for 20 students from the university (five juniors and seniors each from the navigation and engineering courses). Through these and other related activities, NYK expects to play an active part in the education and training of future Vietnamese seafarers.

The following are NYK's principal programs for recruiting and training new crew members:

• China
  (1) Recruits graduates from Dalian Maritime University and Wuhan University of Technology to participate in training on board NYK's vessels (since October 2002).
  (2) Established an NYK course in October 2002 at Shanghai Maritime University to provide classroom education and onboard training for future crew members.
• Philippines
  Established a maritime university in Canlubang in the suburbs of Manila jointly with Transnational Diversified Group (NYK's business partner); the university is scheduled to open in June 2007 to educate cadets for NYK vessels.
• Romania
  Formed an alliance with Constanta Maritime University in Romania in December 2005 for the establishment of an NYK course.
• Croatia
  Formed an alliance with the Department of Sea and Maritime Studies at the University of Split in December 2005 for the establishment of an NYK course.
• India
  Formed alliances with the Tolani Maritime Institute (TMI) in Mumbai and the R.L. Institute of Nautical Sciences (RLINS) in Madurai; NYK classes were established at both institutes.