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August 25, 2005
Kawasaki Kisen Kaisha, Ltd.

"K" Line Sells Kobe/Rokko Island Property

Kawasaki Kisen Kaisha, Ltd. ("K" Line) is pleased to announce the disposal of unused land which is situated at Rokko-Island, Kobe to Fujicco Co., Ltd.

In 1990 "K" Line acquired the 60,170m2 of land from the Government of Kobe and has been using it as an off-dock for empty containers. However, it has not been used after Maersk K.K. and "K" Line agreed to execute a new joint lease with Kobe Port Terminal Corporation (KPTC) for RC3, 4 and 5 in April last year, where all functions are performed at that on-dock terminal.

Under the circumstances, Fujicco Co., Ltd. showed their intention to acquire 19,295m2 of the northwest area for their production/distribution center facilities, and decision was made by "K" Line to sell it to Fujicco Co., Ltd. from the viewpoint of early stage disposal of assets not being used and the area's current activation, and, so sale and delivery were recently completed.

This transaction pushes forward the disposal of unused land as part of "K" Line's current policy.

1. Purchased by Fujicco Co., Ltd.
(Address: 6-13-4 Nakamachi, Minato-jima, Chuo-ku, Kobe, Japan)
2. Area 19,295m2

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