Kawasaki Kisen Kasisha, Ltd.
Code No. 9107
Registered Head Office: 8, Kaigan-dori, Chuo-ku, Kobe
Head Office: 2-9, Nishi-shinbashi 1-chome, Minato-ku,
For information kindly contact Koichi Yabu, General Manager
General Affairs Department.
Tel.03-3595-5090(direct)

1.Fixed asset to be Transferred ( Asset Name : Daikanyama - estate )
(1)address : Sarugaku-cho, Shibuya-ku, Tokyo.

(2) dimensions of land : 3,250.60 square meters in total (983.30 tsubo)

2.Book value: Yen 24 Million

3.Transfer Price : Yen 3,195 Million

4.Profit from transfer: Yen 3,103 Million (after deduction of expenses incurred for the transfer)

5.Transferee: Mr. Seibi Matsubara, President
Organization for Promoting Urban Development ( juridical foundation )
address: 3-3, Toyosu, 3-chome, Koto-ku, Tokyo.

6.Schedule for transfer: conclusion of contract : Mar. 12, 1999
delivery of transferred fixed asset : Mar. 17, 1999

7.Reason for transfer:
With proceeds from a sale of the above asset, we are planning to redevelop the asset. This determination for redevelopment is expected to create long-term stable and profit-making business for the Company.

8. Prospect for achievement:
The net profit at the close of fiscal 1998( covering April 1, 1998 through Mar. 31, 1999) is going to be approximately the same as what was previously publicized.