NOL submits indicative non-binding bid for Hapag-Lloyd

Singapore, 22 July 2008: Neptune Orient Lines Limited (“NOL”) today confirmed that it has submitted an indicative non-binding bid to acquire the Hapag-Lloyd container shipping business.

A completed transaction would result in the integration of NOL’s container shipping business APL with Hapag-Lloyd. The combination would create the world’s third-largest container carrier.

It is at this stage premature to state whether the indicative non-binding bid will lead to a definitive transaction. Any agreement would be subject to, among other steps, due diligence, acceptance of final bid, regulatory approvals and NOL shareholders’ approvals.

Details of the proposal are confidential and commercially sensitive. NOL shareholders are in the meantime advised to exercise caution when dealing in the shares of NOL.

Media Enquiries:
Mr Paul Barrett
Telephone: (65) 6371 7959
paul_barrett@nol.com.sg

Investor Enquiries:
Mr Bernie Yu
Telephone: (65) 6371 5028
bernie_yu@nol.com.sg

About NOL
Neptune Orient Lines (NOL) is a Singapore-based global container shipping, terminals and logistics company. Its container shipping arm, APL, provides world-class container shipping services and intermodal operations supported by leading-edge IT and e-commerce. Its terminals unit has one of the world's leading container terminal networks, with key gateway facilities in Asia and North America. Its logistics business, APL Logistics, provides international, end-to-end logistics services and solutions, employing the latest IT and data connectivity for maximum supply chain visibility and control. NOL Web site: www.nol.com.sg