News Releases in 2006

June 23, 2006

Nippon Yusen Kaisha (NYK Line) recently set up an advisory board comprising outside experts to act as a consultative body for the company's Executive Committee for Strategic Management.^*1

NYK is looking forward to receiving objective and varied advice and proposals from the outside experts as it concerns the business environment and management issues facing NYK with a view to enhancing the transparency of management and further improving corporate value.

The members of the advisory board are as follows:

Morio Ikeda	chairman, Shiseido Co. Ltd.
Yukio Okamoto	representative director, Okamoto Associates
Yuri Okina	chief researcher, Research Department, Japan Research Institute
Mamoru Ozaki	former vice minister of finance, current advisor at Yazaki Corporation
Takaji Kunimatsu	former commissioner-general for the National Police Agency, current outside director at Marubeni Corporation
Michio Matsui	president, Matsui Securities Co. Ltd.

Tenure of office: July 1, 2006, to June 30, 2007 (one year)

^*1Executive Committee for Strategic Management

This committee comprising eight representative directors is charged with deliberating on important company matters.