MITSUI O.S.K. LINES SETS UP INTERNAL AUDIT OFFICE

MITSUI O.S.K. LINES SETS UP INTERNAL AUDIT OFFICE

   Mitsui O.S.K. Lines has set up an internal audit office as part of its efforts to strengthen its corporate governance.

   The internal audit office will gather and integrate information from audits done by each division. It will also handle network auditing, liaising with corporate auditors and certified public accountants concerning their legal auditing.

   MOL said that it established compliance regulations in November 2001, and since then has proceeded to reorganize the compliance structure of the entire MOL group.

   MOL has also established a compliance committee to oversee compliance and remedy violations. The committee is chaired by the MOL vice president responsible for administrative divisions, and includes directors assigned by the executive committee.