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Contact Person:Michelle Lu
General Manager - Group Corporate Affairs, HPH
Telephone:(852) 2619 7557
Fax:(852) 2612 0083
Date:18th March 2003

New Vietnam service starts at KIT

[18th March 2003 - Hong Kong] - The maiden call of "Silver Island" commenced a new direct service between Korea and Vietnam on 8th March 2003 with an inauguration ceremony held at Korea International Terminals (KIT).

The new service is jointly operated by Sinokor and Hanjin Shipping deploying three vessels per week. The new service calls at KIT every Saturday and leaves on the same day for Busan, Hong Kong, Hochimin, Singapore, Pasir Gudang. The service offers significant savings to shippers as it only takes six days from Vietnam to Korea. Also, Hanjin Shipping will use Kwangyang as their transshipment port for cargo destined for the United States.

Mr. Paul Ho, CEO of KIT commented, "We are very pleased to have commenced this new service between Korea and Vietnam. The new service is significant as we strive to build KIT into a major transshipment hub of the region."


Notes to Editors:

Korea International Terminals (KIT) is situated at Phase II of Kwangyang Port, Korea. A natural deepwater port, Kwangyang is situated on the major trade arteries of Northeast Asia.

KIT is a member of the Hutchison Port Holdings (HPH) Group, the world's leading port investor, developer and operator with interests in 15 countries throughout Asia, Middle East, Africa, Europe and the Americas. Today, HPH operates a total of 31 ports together with a number of transportation related service companies.