London, 11th June 2008:

Grand Alliance introduces environmentally-friendly service concept for EU1 service

The Grand Alliance is pleased to announce the implementation of a ninth vessel (6,200 TEU) to join its Japan/North Europe Service (EU1). The addition completes an environmentally-friendly program, aimed at lowering emissions, which has been implemented on the Grand Alliance North Europe-Far East Services. By adding additional vessels, these services can operate at an "ecospeed" which will reduce emissions by 20-30 percent. The four GA partner lines have made substantial investments for the additional ships phased into their Europe-Asia loops.

The port coverage of the EU1 Service remains unchanged. Higher schedule contingencies have been allocated to compensate for delays in congested ports, which occur as a result of the high volume in global container traffic. This allows the GA to improve schedule reliability without harming the environment.

Grand Alliance lines hope that our customers will welcome these measures to significantly reduce emissions and further increase service quality.

ENDS

About NYK:
Nippon Yusen Kabushiki Kaisha is one of the world's leading transportation companies. The NYK Group operates approximately 777 major ocean vessels, as of the end of March 2008, as well as fleets of planes, trains, and trucks. The company's shipping fleet includes around 155 containerships, 286 bulk carriers, 55 wood-chip carriers, 113 car carriers, 21 reefer carriers, 79 tankers, 30 LNG carriers, and three cruise ships. NYK's revenue in fiscal 2007 was about $26 billion, and as a group, NYK employs about 51,000 people worldwide. The company has offices in 240 locations in 27 countries, warehouses on nearly every continent, and harbor operations in Asia, North America, and Europe. NYK is based in Tokyo, and has regional headquarters in London, New York, Singapore, Hong Kong, Shanghai, Sydney, and Sao Paulo.