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June 23, 2003
Kawasaki Kisen Kaisha, Ltd.

"K" Line to start its own short sea car carrier services in Europe

"K" Line will start its own short sea car carrier services from July 1, 2003 under its own flag and the name of "K" Line European Sea Highway Services GmbH (KESS). The new company will have its operational headquarters in Bremen, Germany.

Mr. Egon H. Harms and "K" Line, the partners in the present joint venture company, E.H. Harms GmbH & Co. Car Feeder Service, have mutually agreed to dissolve that company effective June 30, 2003.

The new company, KESS, will charter the six vessels that are currently employed in the North Sea and the Baltic Sea, and continue the existing schedule without any disruption of service.

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