DATE : May 2006

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 01^st July, 2006 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, 2006 .

Subject: Notification for Far Eastern Freight Conference (FEFC) Peak Season Surcharge ex. South China / Hong Kong / Macau to Mediterranean

Please be advised that Member Lines of the FEFC confirm that a Peak Season Surcharge (PSS) OF USD 90 per TEU will apply on cargo moving from Asia (excluding Japan) to Mediterranean Areas with effect from 1^st June 2006 until 31^st October 2006.

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)