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APL OPENS BRANCH OFFICE IN MOSCOW
7th February 2002 -- APL has obtained accreditation with the Russian Ministry of Transport to open a representative office in the country and has established APL (Russia) with an office in Moscow. APL (Russia) will work closely with APL's existing local agents, MCT Shipping, who will continue to handle freight bookings, operations and commercial matters.

The announcement comes shortly after APL opened another owned organisation in the neighbouring Baltic state of Latvia, and is further evidence of the company's commitment to the region. APL's customers will also benefit from the coordination opportunities of direct representation in both countries. Russian cargoes form a significant part of the throughput of Latvia's Riga port.

"We chose Moscow as our office location because a lot of Russian business is headquartered here and we want to be close to the decision makers," said Poul Kristensen, APL's Managing Director Russia and Baltic States, on a recent visit to the new office.

He added: "We will continue to draw strength from our close relationship with MCT. Our objective is to build further on their substantial expertise in this market, and we're looking forward to growing APL's presence here together."

Boris Pozemin has been named Branch Manager for APL (Russia), reporting to Mr Kristensen.

APL provides customers around the world with container transportation services through a network combining high-quality intermodal operations with state-of-the-art information technology. APL is the container transportation arm of Neptune Orient Lines Limited, a global transportation and logistics company engaged in shipping and related businesses.

ENDS

Office Details: APL (Russia) Office 308 7/1 Bolshaya Pochtovaya Street 107082 Moscow Russia

Tel: +7 095 265 4780 Fax: +7 095 265 4780 (same)

Media Contact: Michael Haig at ISIS Communications Tel: +44 1737 248300 - E-mail: info@isiscomms.com

For further information contact: Paul Wilke
NOL Group · Tel: (65) 371-5311
Email: paul_wilke@apl.com