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January 26, 2007
Kawasaki Kisen Kaisha, Ltd.

Establishment of "K" LINE (VIETNAM) LIMITED

Kawasaki Kisen Kaisha, Ltd. ("K" LINE) announced today that they will establish their own shipping agency in Vietnam as a joint venture operation together with a local Vietnamese company. "K" LINE has received approval from the Vietnam government to establish its own shipping agency in which it will hold 51% share. Recognizing the high level of economical development and foreign trade growth in Vietnam that is expected in conjunction with the country's participation in WTO, "K" LINE is setting up its own shipping agency in order to further improve its container services.

The new shipping agency to be known as "K" LINE (VIETNAM) LIMITED will be established April 1, 2007 as a joint venture company of HAI MINH CORPORATION, a local logistics company, and "K" LINE. The head office will be located in Hanoi with plans for two branch offices to be opened in Haiphong and Ho Chi Minh City.

As from April onward, "K" LINE (VIETNAM) LIMITED will be responsible for all local shipping agency activities of "K" LINE. Further details about this new company will be announced later.

"K" LINE takes great pride in its high-quality worldwide container services, and looks forward to making these services readily available to all of its Vietnamese customers as well through "K" LINE (VIETNAM) LIMITED in appreciation for the strong support they have given to "K" LINE. It is hoped this same support and cooperation will continue to be extended to this new joint venture company as well.


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