NOL Submits Indicative Non-binding Bid for Hapag-Lloyd

Logistics Insight Asia - Industry News, 28/7/2008

Neptune Orient Lines Limited (“NOL”) confirmed that it has submitted an indicative non-binding bid to acquire the Hapag-Lloyd container shipping business. A completed transaction would result in the integration of NOL’s container shipping business APL with Hapag-Lloyd. The combination would create the world’s third-largest container carrier.

It is at this stage premature to state whether the indicative non-binding bid will lead to a definitive transaction. Any agreement would be subject to, among other steps, due diligence, acceptance of final bid, regulatory approvals and NOL shareholders’ approvals.

Details of the proposal are confidential and commercially sensitive. NOL shareholders are in the meantime advised to exercise caution when dealing in the shares of NOL.

Neptune Orient Lines Limited, www.nol.com.sg