NOL Involvement in Hapag-Lloyd Bidding Process Ends

Singapore, Oct. 10, 2008 - Neptune Orient Lines Limited (NOL) announced today that it is no longer engaged in the bidding process for the sale of the Hapag-Lloyd container shipping business.

On 26 September 2008, the company submitted a binding bid to acquire Hapag-Lloyd from its owner, TUI AG. NOL's offer has lapsed.

NOL Group President & CEO, Ron Widdows, said: "We submitted a bid that we believed fully valued Hapag-Lloyd and which addressed the challenging market conditions facing the container shipping industry."

Mr Widdows concluded: "NOL will now put all its energy into managing through the current container shipping downcycle and providing our customers with the service they have come to expect of our organisation."

About NOL
Neptune Orient Lines (NOL) is a Singapore-based global container shipping, terminals and logistics company. Its container shipping arm, APL, provides world-class container shipping services and intermodal operations supported by leading-edge IT and e-commerce. Its terminals unit has one of the world's leading container terminal networks, with key gateway facilities in Asia and North America. Its logistics business, APL Logistics, provides international, end-to-end logistics services and solutions, employing the latest IT and data connectivity for maximum supply chain visibility and control. NOL web site: www.nol.com.sg

Media Enquiries:
Mr Paul Barrett
Telephone: (65) 6371 7959
paul_barrett@nol.com.sg

Investor Enquiries:
Mr Bernie Yu
Telephone: (65) 6371 5028
bernie_yu@nol.com.sg