Establishment of International Express Company

Nippon Express Co., Ltd. (hereinafter, “Nippon Express"; head office: Minato-ku, Tokyo; president: Masanori Kawai), Kintetsu World Express, Inc. (hereinafter, “KWE"; head office: Chiyoda-ku, Tokyo; president: Hirokazu Tsujimoto), and All Nippon Airways Co., Ltd. (hereinafter, “ANA"; head office: Minato-ku, Tokyo; president: Mineo Yamamoto), have today established a new company - All Express Corporation - in accordance with the agreement on joint establishment of an international express company announced on December 18 of last year.

The three partners have also received support and investment from two other major forwarders in founding this joint venture.

The new company will now move ahead with preparations for the start of business, including submission of business license applications to the relevant government agencies, and will begin selling express services from Japan to Hong Kong/Shanghai this summer.

Thereafter it will steadily expand its area of coverage, and in the autumn of 2009 will begin providing high-quality international express services utilizing the Asian regional airline network centered on Naha Airport currently under development by ANA.

Inquiries:	Nippon Express (Public Relations & Advertising Division)
TEL:	03-6251-1454

Inquiries:	Kintetsu World Express (General Affairs Division)
TEL:	03-3201-2654

Inquiries:	All Nippon Airways Co., Ltd. (Advertising Division)
TEL:	03-6735-1111

Company name:	All Express Corporation
Representative:	Tsugumichi Yoshitomi, President & Representative Director
Head office:	Haneda Kuko 3-2-6, Ota-ku, Tokyo
Date of establishment:	April 1, 2008
Start of business:	summer 2008 (expected)
Capital:	201,000,000 yen
Investment ratios:	All Nippon Airways Co., Ltd.: 36.38%, Nippon Express Co., Ltd.: 30.38%, Kintetsu World Express, Inc.: 30.38%, MOL Logistics (Japan) Co., Ltd.: 1.43%, Yusen Air & Sea Service Co., Ltd.: 1.43%
Principal business activities:	(1) International door-to-door parcel delivery service (2) Air cargo forwarding (3) Air transport agency operations (4) Import consolidated cargo sorting (5) Customs clearance, etc.
Product brand name	ALLEX Registered trademark pending

Name:	Nippon Express Co., Ltd.
Representative:	Masanori Kawai, President
Date established:	October 1, 1937
Paid-in capital:	70,100,000,000 yen
Employees:	69,324 (consolidated basis, as of September 30, 2007)
Business locations:	overseas: 357 locations in 204 cities in 37 countries (as of September 30, 2007); Japan: approximately 1,100 locations
Principal business activities:	(1)Motor cargo transport (2)Air cargo forwarding (3)Ocean cargo forwarding (4)Coastal shipping (5)Railway cargo forwarding (6)Warehousing

Name:	Kintetsu World Express Inc.
Representative:	Hirokazu Tsujimoto, President
Date established:	January 10, 1970
Paid-in capital:	7,216,000,000 yen
Employees:	7,745 (consolidated basis, as of September 30, 2007)
Business locations:	overseas: 285 locations in 186 cities in 30 countries (as of September 30, 2007)
Principal business activities:	(1)Railway cargo forwarding (2)Customs clearance (3)Intermodal transport (4)Ocean cargo transport

Name:	All Nippon Airways Co., Ltd.
Representative:	Mineo Yamamoto, President
Date established:	December 27, 1952
Paid-in capital:	160,001,284,228 yen
Employees:	13,602 (as of September 30, 2007)
Principal business activities:	(1)Scheduled air cargo transport (2)Charter air cargo transport (3)Aircraft charter (4)Other incidental operations
Fleet:	210 passenger aircraft, 6 cargo aircraft
Domestic passenger flights:	812 flights/day on 118 routes serving 50 cities
Domestic cargo flights:	44 flights/week on 3 routes serving 4 cities
International passenger flights:	610 flights/week on 35 routes serving 27 cities
International cargo flights:	106 flights/week on 20 routes serving 15 cities

Name:	MOL Logistics (Japan) Co., Ltd.
Representative:	Toshifumi Kato, President
Date established:	July 1, 1989
Paid-in capital:	756,250,000 yen
Employees:	2,100 (consolidated basis, as of January 1, 2007)
Business locations:	overseas: 71 locations in 62 cities in 20 countries (as of July 1, 2007)
Principal business activities:	(1)Cargo forwarding (2)Intermodal transport (3)Ocean cargo transport

Name:	Yusen Air & Sea Service Co., Ltd.
Representative:	Shun'ichi Yano, President
Date established:	February 28, 1955
Paid-in capital:	4,301,000,000 yen
Employees:	4,939 (consolidated basis, as of September 30, 2007)
Business locations:	166 locations in 137 cities in 32 countries (as of September 30, 2007); Japan: 67 locations
Principal business activities:	(1) Airline and shipping company agency operations (2) Cargo forwarding (3) Customs clearance (4) Warehousing (5) Other incidental/related operations