Launching of “JP GUNJO” for Electric Power Development Co., Ltd

June 29, 2006 -Tokyo, Japan. Kawasaki Kisen Kaisha, Ltd. (“K” Line) is proud to announce the launching of “JP GUNJO,” an 88,000 DWT-type special coal carrier at Marugame Shipyard of Imabari Shipbuilding Co., Ltd., Japan on June 29 th , 2006 for which the naming ceremony took place on June 14 th , with Managing President Nakagaki of Electric Power Development Co., Ltd (EPDC) and his wife as the ship's sponsor. The name “JP GUNJO” is derived from “J-Power” which is the appellation of “EPDC” and from the Japanese name “GUNJO” one can imagine the color of the sea, especially the beautiful deep blue ocean at Matsuura, Nagasaki , Japan where EPDC's Thermal Power Station is located.

JP GUNJO is same type as “ K” Line's specialized fleet for transport of thermal coal known as the “Corona-series”. The Corona-series, which “K” Line originated and continues to develop, consists of epoch-making coal carriers equipped with wide beam and shallow draft, which are the most suitable type to enter ports of domestic Thermal Power Stations to discharge cargo.

This new coal carrier that boasts all the latest and most up-to-date specifications will replace her older sister “SUIREI MARU” who has been in service as dedicated vessel to EPDC since 1996, and she will be principally involved in long-term service carrying thermal coal to EPDC's 7 Thermal Power Stations which are located all over Japan .

For further information, please contact:

Kawasaki Kisen Kaisha, Ltd. Tokyo
Thermal Coal, Woodchip and Pulp Group
Kazuhiko Harigai, General Manager Tel: 81-3-3595-5502
Michitomo Iwashita, Manager Tel: 81-3-3595-5505
Fax: 81-3-3595-5512