DATE : 1 May 2008

To : Our Valued Customers Who May Concern

From : “K” Line (Hong Kong) Ltd

Subject: REVISED BUNKER SURCHARGE (BAF) AND CURRENCY ADJUSTMENT FACTOR (CAF) FOR EURCO / MED / ISRAEL

In view of recent increase in the price of oil. Please be advised that in accordance with the established review procedures, the Bunker Surcharge Level (BAF) and Currency Adjustment Factor (CAF) for shipments to EUROPE / MED and ISRAEL will be adjusted as below :

MAY BAF (wef 01/05/08 – 31/05/08)

EUROPE –

20’ USD517 (included LSFS)

40’ / 40’HQ USD1034

MED

20’ USD509

40’ / 40’HQ USD1018

ISRAEL MAY BAF (wef 01/05/08 – 14/05/08)

20’ USD409

40’ / 40’HQ USD818

MAY CAF (wef 01/05/08 – 31/05/08)

EUROPE 17.7%

MED 17.7%

ISRAEL 0.0%

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 Customer Service NON-TPS1.

Customer Service NON-TPS1

Tel : 2861-5401, 2861-5402, 2861-5403, 2861-5404, 2861-5408, 2861-5409

Email : hkglcusoth1@hk.kline.com

Thanks for your kind attention.

Best Regards.

Yours faithfully,

For and on behalf of

“K” Line (Hong Kong) Ltd