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November 29, 2005
Kawasaki Kisen Kaisha, Ltd.

Establishment of "K" Line Agency Companies in Scandinavia, Spain,
Portugal and Turkey

Kawasaki Kisen Kaisha, Ltd. ("K" Line) is pleased to announce that effective 1 January 2006 "K" Line will establish new Agency Companies under Joint Venture Agreements with the present local agents in Denmark, Norway, Sweden, Spain, Portugal and Turkey where respective cargo movements have been on the increase and appear to be more and more promising in the future.

By these new agreements, "K" Line's own network will be widely expanded throughout Europe, Mediterranean Sea, North Africa and Black Sea areas which covers 16 countries including 13 Agency Companies, 2 Branch Offices and 2 Representative Offices. In addition, "K" Line has also set up a network of 3rd Party Agents in another 19 countries within the area.

Making full use of this expanded network, "K" Line will be continuously trying to provide even higher quality services to our customers by complying with their requirements in the most accurate and timely manner possible.

"K" Line's long-standing partners in the respective Countries are:

All of the present offices within each of the Countries will be maintained.

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