DATE : Aug 2006

To : Our Valued Customers Who May Concern

From : “K” Line (Hong Kong) Ltd

Dear customers,

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

Please be advised that as from effect from 22/Aug/06 that the WRS for Israel will be reduced from the current Usd 220 per teu to Usd 85 per teu for all dry and reefer shipments from South China, Hong Kong and Macau.

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)