Monday, January 27, 2003
Re: USSEC Westbound rate increase for 2003

Dear NASA Member:

THE UNITED STATES SOUTH EUROPE CONFERENCE (USSEC) advises that the BAF published in its relevant Eastbound and Westbound tariffs, will be adjusted to the following levels effective March 1,2003.

         $170 per 20ft container
         $340 per 40ft container

The above will apply through March 31, 2003, thereafter will be announced during week commencing February 24, 2003.

The Members of USSEC are:
A.P.Moller-Maersk Sealand Hapag Lloyd Container Linie GmbH P&O Nedlloyd Ltd.

Regards,
Judy Mannix
Administrator