DATE : July 2006

To : Our Valued Customers Who May Concern

From : “K” Line (Hong Kong) Ltd

Dear customers,

Subject: Notification of War Risk Surcharge (WRS) Increase ex. South China / Hong Kong / Macau to Israel

Please be advised that as from immediate effect that the WRS for Israel will be increased from the current Usd 9 per teu to Usd 220 per teu for all dry and reefer shipments from South China, Hong Kong and Macau.

The WRS will apply to ALL cargo whether it be :

1/ currently on the water

2/ in Port Said awaiting t/ship,

3/ already booked but not shipped

4/ new bookings

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)