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December 22, 2003
Kawasaki Kisen Kaisha, Ltd.

Orders Placed for 2 Additional Double Hull VLCC

Kawasaki Kisen Kaisha, Ltd. ("K"Line) are pleased to announce to place orders for two new 300,000 dwt double-hulled VLCC.
"K"Line's VLCC fleet has already been totally composed of double-hulled as an achievement from consistent effort to establish environmental friendly fleet, which is an ongoing corporate commitment to preserve global marine environment.
With the addition of the two new VLCC, "K"Line's VLCC fleet will expand to seven. (Of course totally double-hulled.)
This expansion will strengthen "K"Line's high-quality transportation services and will be appreciated by "K"Line's esteemed customers with their satisfaction as well.
An outline of present orders shows:

Construction Company Kawasaki Shipbuilding Corporation
Time of Completion 1st VLCC December 2006
2nd VLCC April 2007

Guidance on 300,000 dwt VLCC already ordered is reported as follows:

Construction Company Universal Shipbuilding Corporation
Time of Completion January 2004 and April 2004


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