As at 8 March 2005

The following information covering NOL Group's Key Management Staff, as required by Rule 1207(4)(c), is in addition to the details presented on page 9 of this Annual Report, relating to the Executive Directors, David Lim and Lim How Teck.

Ron Widdows Chief Executive Officer, APL

As CEO of APL, Ron Widdows is responsible for the commercial, financial and all operational activities of the APL liner organisation. Mr Widdows has 33 years' experience in the industry, nearly 25 of which are with APL, having joined the Company in 1980. He has held senior executive roles in Asia, the United States and Canada, with a particular focus on operations.

In his previous role as Executive Vice President of Global Operations & Network, Mr Widdows was accountable for the day-to-day operations of the liner company including the line-haul and feeder fleets, global equipment management, procurement, terminals and alliance relationships.

Mr Widdows was appointed Senior Vice President responsible for APL's Americas Operations and Logistics in 1998, which included management of US West Coast terminal operator company Eagle Marine Services as well as its Stacktrain Services subsidiary, before being named APL Senior Vice President, Liner Operations in 1999 and then Executive Vice President in 2001. Mr Widdows was made Acting CEO in January 2003, and was confirmed as CEO of APL by the NOL Group Board in June 2003. He is based in Singapore.

Hans Hickler Chief Executive Officer, APL Logistics

Hans Hickler was appointed CEO of APL Logistics in 2002 and is responsible for overseeing the Company's operations and managing the growth and expansion of APL Logistics' business globally. He is based in Oakland, California.

Mr Hickler has 20 years of general management experience and has worked in the US, Latin America and Asia. Prior to his current role, Mr Hickler was Chief Information Officer for NOL Group overseeing strategy development, design and implementation of the Group's information systems and processes. This included expansion of e-commerce channels and products available through APL's award winning transaction-based Internet site.

Other positions held include Senior Vice President for Customer Support and Managing Director of the US Southern region at APL.

Cindy Stoddard Chief Information Officer, NOL Group

As Group Chief Information Officer, Cindy Stoddard oversees strategy development, design and implementation of a wide range of information systems and processes, aimed at streamlining and standardising day-to-day business processes for the Group's customers worldwide. She is based in Oakland, California.

Ms Stoddard joined NOL in 2001, as Vice President/ Chief Information Officer of Enterprise Shared Services, responsible for all NOL Group information technology support such as computer operations, telecommunications, networking, messaging, security, systems architecture and database management. She has a proven record as a senior IT professional with more than 20 years' experience in the industry, specialising in the transportation and logistics field.

Before joining NOL, Ms Stoddard was Senior Vice President and Chief Information Officer with Circle International, and worked as Vice President and Director of Information Services for Emery Worldwide, a subsidiary of CNF, a US$2.4 billion worldwide airfreight integrator and freight forwarder. She began her career in the transportation sector with Consolidated Freightways in 1981 as a systems analyst.

Gordon Simpson Chief Human Resources Officer, NOL Group

Gordon Simpson joined the NOL Group as Chief Human Resources Officer in 2004. He is responsible for the development of human resources policies and practices across NOL and its operating companies globally. He is based in Singapore.

Mr Simpson brings more than 25 years' experience as a human resources professional, gained in the oil, chemical manufacturing and shipping industries. Originally from South Africa, his previous roles spanned Asia, Africa and the US. Most recently he was based in Singapore as General Manager Human Resources, Asia/Middle East/Africa for ChevronTexaco. Prior to that, he spent almost five years in Thailand, where he was responsible for establishing and managing the HR function at Star Petroleum Refining Company, a joint venture between Caltex and the Petroleum Authority of Thailand. Before joining Caltex, he worked for 10 years with the Sentrachem Group in South Africa, holding Human Resources positions at plant, division and corporate level. His original grounding in HR was received at Unicorn Shipping Lines where he was responsible for personnel services.

Jim McAdam Senior Vice President, Business Solutions, NOL Group

Jim McAdam was appointed Senior Vice President, Business Solutions in July 2004 and is responsible for developing and implementing global supply chain capabilities for the NOL Group. He rejoined the NOL Group in early 2000, adding to his earlier 12-year career at APL. He is based in Singapore.

Mr McAdam is a veteran with more than 20 years' experience in the transportation and logistics industry, including more than 10 years of Asian-based assignments, having held senior management positions in Thailand, Japan and Singapore. Prior to his current appointment, Mr McAdam was Vice President and Managing Director of APL North Asia, where he was responsible for the day-to-day operations of the company's business in Japan, North and South Korea and the Russian Far East.

John Bowe President, Americas, NOL Group

John Bowe was appointed President, Americas in 2004. He oversees the NOL Group's businesses in the US, Canada and Latin America, and is responsible for the Group's operations and long-term growth in both container transportation and end-to-end supply chain services in the region. He is based in Oakland, California.

Mr Bowe joined APL in 1987. He has more than 30 years' experience in the shipping industry, having held a wide variety of positions including regional management, operations and network.

Prior to his current role, Mr Bowe was Vice-President and Managing Director for APL in Hong Kong and South China, responsible for the general management of APL's business in Hong Kong and the rapidly expanding South China provinces of Guangdong (including Shenzhen and the Pearl River Delta), Fujian, Yunnan, Guangxi and Hunan. His recent positions include Vice President, Liner Planning, Vice President, Worldwide Logistics and Managing Director, West Asia for APL.

Koay Peng Yen President, Greater China, NOL Group

Koay Peng Yen was appointed President, Greater China in 2004. He oversees the NOL Group's businesses in China, Hong Kong and Chinese Taiwan, and is responsible for the Group's operations and long-term growth in both container transportation and end-to-end supply chain services in the region. He is based in Shanghai, China.

Mr Koay began his career with Neptune Orient Lines in 1988 and has progressed quickly through the ranks, holding a number of senior management positions. He was most recently President of APL Greater China where he oversaw the Company's container shipping services in the region. Prior to that, Mr Koay was APL's Senior Vice President for Trans-Pacific, Vice President for Intra-Asia, Middle East and Australia and NOL's Vice President and Head of Corporate Planning.

Brian Lutt President, Asia/Middle East, NOL Group

Brian Lutt was appointed President, Asia/Middle East in 2004 and is responsible for overseeing the NOL Group's operations and long-term growth in both container transportation and end-to-end supply chain services in the region. He is based in Singapore.

Mr Lutt, who has more than 20 years of experience at APL, was most recently President of APL Asia/Middle East where he oversaw the Company's container shipping services in the region. Mr Lutt was previously based in Shanghai as the President for the Greater China region, where he managed all liner business activities in mainland China, Hong Kong special administrative region (SAR), Macau SAR and Taiwan. He was also the lead executive for both APL and APL Logistics' strategic development in Greater China.

Prior to his work in China, Mr Lutt was Senior Vice President for the Asia-Europe trade. He has also managed a number of markets including Bangladesh, Burma, Japan, Korea, Malaysia and Thailand, and has held sales and general management responsibilities in the United States with APL.

David Appleton President, Europe, NOL Group

David Appleton was appointed President, Europe in 2004 and is responsible for overseeing the NOL Group's activities and long-term growth in both container transportation and end-to-end supply chain services in the region of Europe and the former Soviet Union. He is based in Uxbridge, UK.

Mr Appleton joined APL in 1999 and has more than 25 years' experience in the industry. He was most recently President of APL Europe where he oversaw the Company's container shipping services in the region. Prior to that, Mr Appleton was Vice President, Sales and Marketing, APL Europe, accountable for the Company's commercial activities in that region. In addition, he was responsible for the Trans-Atlantic trade management team, located in London and New Jersey.

Prior to joining APL in 1999, Mr Appleton had spent 12 years with Sea-Land Service where he held a variety of senior management positions, including general manager and managing director roles in the USA, U.K. & Ireland and former Soviet Union respectively. During this time, he was also involved with management of joint venture activities in Russia and a ship-owning entity in the UK.