[ K Line, Established New West-Australia Agents ]

K-Line will closed down their joint agency operation with ANL(Australi
an National Line Ltd.) in West Australia named Maritime Agencies of We
stern Australia Pty. Ltd. by the end of October, 1997 and transfer the
ir respective agency operations to new organization.
K-Line has newly established their general agency in West Australia na
med K-Line(Western Australia)Pty. Ltd. at Fremantle as their 100%-owne
d agency effective from 1st November, 1997 in order to provide a firme
r base for business activity there.
K-Line upgraded their Japan/Straits/West Australia Service to a weekly
fixed-day operation with five 1,000TEU containerships effective from
October, 1997. K-Line is confident that this new weekly service togeth
er with formation of their new 100%-owned agency organization in West
Australia will enable them to provide their shippers with finest custo
mer-oriented service possible.