“K”LINE

“K”LINE (HONG KONG) LTD.

TELEPHONE : 28615511 33^RD FLOOR, UNITED CENTRE, TELEGRAPHIC ADDRESS :

TELEX NO. : 73776 KLINE HX 95 QUEENSWAY “KAWAKISEN” HONG KONG

(G. P. O. BOX NO. 503)

HONG KONG

DATE : June 2005

To : Our Valued Customers Who May Concern

From : “K” Line (Hong Kong) Ltd

Dear customers,

Subject: Notification for Rate Restoration ex. South China / Hong Kong / Macau to North Europe & Mediterranean

Please be advised that Kline hereby announced to implement of rate restoration (RR) by USD250/TEU and USD500/FEU with effect from 1^st July, 2005 for all dry and reefer shipments from South China, Hong Kong and Macau outbound to North Europe, Mediterranean and Black Sea’ ports with validity up to 30^th September, 2005 .

The 40’ HC premium surcharge of USD350 per unit is applicable for above trades.

A surcharge of USD75/150 per 20’/40’ is applicable to all cargo going to the United Kingdom.

We take this opportunity to thank for your valuable support and look forward to having your unchanged patronage in future. Should you have any further queries, please feel free to contact our sales department of Europe customer service of telephone number 28615531-2.

Thanks for your kind attention.

Best Regards.

Yours faithfully,

For and on behalf of

“K” Line (Hong Kong) Ltd

Sales Department (Europe Section)