The New World Alliance Announces Winter Capacity Program

Singapore, Seoul, Tokyo, Nov. 13, 2007 - The New World Alliance (TNWA) carriers - APL, Hyundai Merchant Marine (HMM) and Mitsui O.S.K. Lines (MOL) - today announced their winter capacity plans for the Transpacific trade.

In the face of an unprecedented rise in operating costs – particularly for fuel – the TNWA has made the prudent business decision to withdraw more capacity and earlier than in previous years.

In addition to an immediate winter reduction of around 10%, the TNWA will from early December also withdraw a further 5 to 10% of its joint capacity in the Transpacific. The withdrawal may also run longer than in past years, according to the TNWA.

TNWA anticipates that it will have plenty of capacity to meet demand for cargo transportation services in the Transpacific during this winter season. Service will continue to be provided at all existing port locations.

The carriers did not rule out future additional network adjustments in order to minimize the impact of dramatically higher costs on their respective businesses.

The TNWA carriers remain committed to providing customers with premium global container shipping services.

About the New World Alliance
TNWA member lines APL, Hyundai Merchant Marine (HMM) and Mitsui O.S.K. Lines (MOL), serve more than 40 ports using in excess of 100 containerships in the major East-West container trades.

For more information, please contact:

APL
Paul Barrett
Director, Corporate Communications
Tel: +65 6371 7959
paul_barrett@nol.com.sg

HMM
S.I.Yang
General Manager, Liner Business Development Dept
Tel: +82 2 3706 5472 / Fax: + 82 2 732 8482
pcysi@hmm21.com

MOL
Hiroki Tsujii
Manager, Strategic Planning & Asset Management Group,
Liner Division
Tel: +81 3 3587 7337 / Fax: + 81 3 3587 7796
hiroki.tsujii@mail.mol.co.jp