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News Release

April 27, 2012

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FPS Hawaii groupage cuts time and cost

News Release Famous Pacific Shipping (HK) Ltd. April 27, 2012
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<P style="LINE-HEIGHT: 150%" class=MsoNormal><FONT size=2 face=Tahoma><SPAN
style="LINE-HEIGHT: 150%; FONT-FAMILY: Tahoma; FONT-SIZE: 10pt">FPS Hong Kong
&#8211;</SPAN></FONT><FONT size=2 face=Tahoma><SPAN
style="LINE-HEIGHT: 150%; FONT-FAMILY: Tahoma; FONT-SIZE: 10pt"> one of the
founder</SPAN></FONT><FONT size=2 face=Tahoma><SPAN
style="LINE-HEIGHT: 150%; FONT-FAMILY: Tahoma; FONT-SIZE: 10pt">
member</SPAN></FONT><FONT size=2 face=Tahoma><SPAN
style="LINE-HEIGHT: 150%; FONT-FAMILY: Tahoma; FONT-SIZE: 10pt">s</SPAN></FONT><FONT
size=2 face=Tahoma><SPAN
style="LINE-HEIGHT: 150%; FONT-FAMILY: Tahoma; FONT-SIZE: 10pt"> of the Famous
Pacific Shipping Group forwarding and logistics network - is launching a new
direct ocean groupage service to Honolulu, Hawaii that reduces traditional costs
and transit times.</SPAN></FONT></P>
<P style="LINE-HEIGHT: 150%" class=MsoNormal><FONT size=2 face=Tahoma><SPAN
style="LINE-HEIGHT: 150%; FONT-FAMILY: Tahoma; FONT-SIZE: 10pt"></SPAN></FONT>&nbsp;</P>
<P style="LINE-HEIGHT: 150%" class=MsoNormal><FONT size=2 face=Tahoma><SPAN
style="LINE-HEIGHT: 150%; FONT-FAMILY: Tahoma; FONT-SIZE: 10pt">The new service
will commence in late April, and initially offer fortnightly sailings. It will
cut transit times currently offered by lines by up to five days. All general
cargoes will be accepted on the service, but hazardous goods are
excluded.</SPAN></FONT></P>
<P style="LINE-HEIGHT: 150%" class=MsoNormal><FONT size=2 face=Tahoma><SPAN
style="LINE-HEIGHT: 150%; FONT-FAMILY: Tahoma; FONT-SIZE: 10pt"></SPAN></FONT>&nbsp;</P>
<P style="LINE-HEIGHT: 150%" class=MsoNormal><FONT size=2 face=Tahoma><SPAN
style="LINE-HEIGHT: 150%; FONT-FAMILY: Tahoma; FONT-SIZE: 10pt">Thought to be
the first groupage service on the trade offered by an</SPAN></FONT><FONT size=2
face=Tahoma><SPAN
style="LINE-HEIGHT: 150%; FONT-FAMILY: Tahoma; FONT-SIZE: 10pt">
NVOCC</SPAN></FONT><FONT size=2 face=Tahoma><SPAN
style="LINE-HEIGHT: 150%; FONT-FAMILY: Tahoma; FONT-SIZE: 10pt">, its rates will
show a substantial reduction on current liner groupage rates, and will
include</SPAN></FONT><FONT size=2 face=Tahoma><SPAN
style="LINE-HEIGHT: 150%; FONT-FAMILY: Tahoma; FONT-SIZE: 10pt"> operational
costs</SPAN></FONT><FONT size=2 face=Tahoma><SPAN
style="LINE-HEIGHT: 150%; FONT-FAMILY: Tahoma; FONT-SIZE: 10pt"> in Hong Kong
and AMS (Automated Manifest System) charges</SPAN></FONT><FONT size=2
face=Tahoma><SPAN
style="LINE-HEIGHT: 150%; FONT-FAMILY: Tahoma; FONT-SIZE: 10pt"> for those
shipments being transshipped via Hong Kong, but exclude</SPAN></FONT><FONT
size=2 face=Tahoma><SPAN
style="LINE-HEIGHT: 150%; FONT-FAMILY: Tahoma; FONT-SIZE: 10pt"> DTHC
(Destination Terminal Handling Charges). Freight collect shipments will be
accepted.</SPAN></FONT></P>
<P style="LINE-HEIGHT: 150%" class=MsoNormal><FONT size=2 face=Tahoma><SPAN
style="LINE-HEIGHT: 150%; FONT-FAMILY: Tahoma; FONT-SIZE: 10pt"></SPAN></FONT>&nbsp;</P>
<P style="LINE-HEIGHT: 150%" class=MsoNormal><FONT size=2 face=Tahoma><SPAN
style="LINE-HEIGHT: 150%; FONT-FAMILY: Tahoma; FONT-SIZE: 10pt">Due to Hong
Kong&#8217;s ideal location as a regional transhipment hub, FPS Hong Kong&#8217;s
Director&nbsp; Benny Ling says: &#8220;We expect a strong uptake not just from Hong
Kong, but also from China, Japan, Korea, Taiwan and the rest of southeast
Asia</SPAN></FONT><FONT size=2 face=Tahoma><SPAN
style="LINE-HEIGHT: 150%; FONT-FAMILY: Tahoma; FONT-SIZE: 10pt"> and the west
Pacific</SPAN></FONT><FONT size=2 face=Tahoma><SPAN
style="LINE-HEIGHT: 150%; FONT-FAMILY: Tahoma; FONT-SIZE: 10pt">.</SPAN></FONT></P>
<P style="LINE-HEIGHT: 150%" class=MsoNormal><FONT size=2 face=Tahoma><SPAN
style="LINE-HEIGHT: 150%; FONT-FAMILY: Tahoma; FONT-SIZE: 10pt"></SPAN></FONT>&nbsp;</P>
<P style="LINE-HEIGHT: 150%" class=MsoNormal><FONT size=2 face=Tahoma><SPAN
style="LINE-HEIGHT: 150%; FONT-FAMILY: Tahoma; FONT-SIZE: 10pt">&#8220;We believe FPS
is the first </SPAN></FONT><FONT size=2 face=Tahoma><SPAN
style="LINE-HEIGHT: 150%; FONT-FAMILY: Tahoma; FONT-SIZE: 10pt">NVOCC</SPAN></FONT><FONT
size=2 face=Tahoma><SPAN
style="LINE-HEIGHT: 150%; FONT-FAMILY: Tahoma; FONT-SIZE: 10pt"> to offer this
service in </SPAN></FONT><FONT size=2 face=Tahoma><SPAN
style="LINE-HEIGHT: 150%; FONT-FAMILY: Tahoma; FONT-SIZE: 10pt">Asia</SPAN></FONT><FONT
size=2 face=Tahoma><SPAN
style="LINE-HEIGHT: 150%; FONT-FAMILY: Tahoma; FONT-SIZE: 10pt">. Once it is
established, we hope to increase its frequency to weekly.&#8221;</SPAN></FONT></P>
<P style="LINE-HEIGHT: 150%" class=MsoNormal><FONT size=2 face=Tahoma><SPAN
style="LINE-HEIGHT: 150%; FONT-FAMILY: Tahoma; FONT-SIZE: 10pt"></SPAN></FONT>&nbsp;</P>
<P style="LINE-HEIGHT: 150%" class=MsoNormal><FONT size=2 face=Tahoma><SPAN
style="LINE-HEIGHT: 150%; FONT-FAMILY: Tahoma; FONT-SIZE: 10pt">As part of the
service, FPS&#8217;s handling agent in Honolulu will provide arrival alerts. Concludes
Ling: &#8220;We want to ensure that customers receive the very best possible
service.&#8221;</SPAN></FONT></P>
<P style="LINE-HEIGHT: 150%" class=MsoNormal><FONT size=2 face=Tahoma><SPAN
style="LINE-HEIGHT: 150%; FONT-FAMILY: Tahoma; FONT-SIZE: 10pt"></SPAN></FONT>&nbsp;</P>
<P style="LINE-HEIGHT: 150%" class=MsoNormal><FONT size=2 face=Tahoma><SPAN
style="LINE-HEIGHT: 150%; FONT-FAMILY: Tahoma; FONT-SIZE: 10pt">FPS Hong Kong
was launched in 1990, and provides ocean </SPAN></FONT><FONT size=2
face=Tahoma><SPAN
style="LINE-HEIGHT: 150%; FONT-FAMILY: Tahoma; FONT-SIZE: 10pt">consolidation</SPAN></FONT><FONT
size=2 face=Tahoma><SPAN
style="LINE-HEIGHT: 150%; FONT-FAMILY: Tahoma; FONT-SIZE: 10pt"> and FCL
services to China, Africa, the Middle East, Asia, Europe, </SPAN></FONT><FONT
size=2 face=Tahoma><SPAN
style="LINE-HEIGHT: 150%; FONT-FAMILY: Tahoma; FONT-SIZE: 10pt">Oceania</SPAN></FONT><FONT
size=2 face=Tahoma><SPAN
style="LINE-HEIGHT: 150%; FONT-FAMILY: Tahoma; FONT-SIZE: 10pt"> and the
Americas. It also operates airfreight services globally. The company has its own
bases in Hong Kong, China</SPAN></FONT><FONT size=2 face=Tahoma><SPAN
style="LINE-HEIGHT: 150%; FONT-FAMILY: Tahoma; FONT-SIZE: 10pt">,
Asia</SPAN></FONT><FONT size=2 face=Tahoma><SPAN
style="LINE-HEIGHT: 150%; FONT-FAMILY: Tahoma; FONT-SIZE: 10pt"> and
Australia.</SPAN></FONT></P>
<P style="LINE-HEIGHT: 150%" class=MsoNormal><FONT size=2 face=Tahoma><SPAN
style="LINE-HEIGHT: 150%; FONT-FAMILY: Tahoma; FONT-SIZE: 10pt"></SPAN></FONT>&nbsp;</P>
<P style="LINE-HEIGHT: 150%" class=MsoNormal><FONT size=2 face=Tahoma><SPAN
style="LINE-HEIGHT: 150%; FONT-FAMILY: Tahoma; FONT-SIZE: 10pt">In 1992 it was
the founder member of Famous Pacific Shipping Group, whose </SPAN></FONT><FONT
size=2 face=Tahoma><SPAN
style="LINE-HEIGHT: 150%; FONT-FAMILY: Tahoma; FONT-SIZE: 10pt">members provide
a comprehensive range of multi-modal forwarding and logistics services through a
global network spanning 198 locations in 52 countries.
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