Singapore, 2 June, 2003:
Neptune Orient Lines (NOL) announced today the appointment of two prominent Singaporean businessmen, Mr Ang Kong Hua and Mr Willie Cheng Jue Hiang, to the company’s Board of Directors, and confirmed Mr Ron Widdows as CEO of its container transportation unit, APL.

Mr Ang Kong Hua becomes a Vice Chairman of the Board, joining Dr Friedbert Malt in this role, and will sit on both the Board’s Executive Committee and Nominating Committee.

Mr Willie Cheng Jue Hiang will serve on the Audit Committee in addition to his responsibilities as a member of the full Board.
NOL Group Chairman Mr Cheng Wai Keung said both Mr Ang Kong Hua and Mr Willie Cheng offered a valuable breadth of skills and management experience in the global business arena.

Mr Ang Kong Hua is President of NatSteel, a listed Singapore-based manufacturing group. Before joining NatSteel in 1975, he was with Singapore's Economic Development Board and The Development Bank of Singapore. Mr Ang Kong Hua also serves on the boards of several other listed companies and institutions, including Singapore Telecommunications Ltd and the Government of Singapore Investment Corporation Pte Ltd.

Mr Willie Cheng is the Country Managing Director of Accenture Singapore and Managing Partner of Communications & High Tech Industry, South Asia, of Accenture Singapore. He has also served on the boards of Infocomm Development Authority of Singapore (IDA), SPRING Singapore (formerly the Singapore Productivity and Standards Board), PSB Corporation and International Enterprise Singapore (formerly Trade Development Board).

“Mr Ang Kong Hua’s entrepreneurial skills and experience, and Mr Willie Cheng’s extensive professional and finance skills will be real assets as we concentrate our business on our core global transportation and logistics capabilities and focus on sustaining profitability into the future,” said Mr Cheng Wai Keung.

In other changes, Mr Tim Rhein has been appointed Chairman of APL Logistics, taking over from Mr Cheng Wai Keung, who remains a member of the APL Logistics Board.

With regard to the NOL Board Committees, Mr Lock Sai Hung has been appointed Chairman of the Audit Committee, replacing Professor Wee Chow Hou who will continue as a member of the Committee; Human Resources specialist and banker Mr Connal Rankin has been named Chairman of the Executive Resource and Compensation Committee, taking over from Mr Cheng Wai Keung, who remains on the committee.

Mr Cheng also announced Mr Ron Widdows’ appointment as CEO of APL. “I am delighted we have a person of Mr Widdows calibre to lead what is the biggest of the Group’s businesses,” Mr Cheng said. “His 30 years experience in the industry, together with his far-sighted approach and commitment to achieving sustained profitability while meeting customers needs, makes him an excellent choice to lead APL into the future.”

Mr Widdows, joined APL in 1980. He was appointed Senior Vice President responsible for APL's Americas Operations and Logistics in 1998, which included management of the companies terminal operating subsidiary, Eagle Marine Services Ltd 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 has been Acting APL CEO since January.