Date: Wednesday, October 27, 2004

Re:	TRANS-ATLANTIC CONFERENCE AGREEMENT (TACA)

Dear NASA Member:

THE TRANS-ATLANTIC CONFERENCE AGREEMENT (TACA) announces:

Due to an escalation in U.S. inland fuel prices, which cannot be absorbed, TACA's current U.S. inland fuel surcharge of 12% will be increased to 16%, effective December 1st, 2004.

Fuel prices in the U.S. will continue to be subject to ongoing monitoring and any change to the above revised level of fuel surcharge will be advised as appropriate.

The members of TACA are:

Atlantic Container Line A.B. Hapag-Lloyd Container Linie GmbH Mediterranean Shipping Co. A.P. Moller-Maersk Sealand

Nippon Yusen Kaisha (NYK) Line Orient Overseas Container Line P&O Nedlloyd Limited

Regards,

Judy Mannix
Administrator