MISC TO WITHDRAW FROM GRAND ALLIANCE FROM NEXT YEAR

KUALA LUMPUR, May 15 (Bernama) -- MISC Bhd has issued a notice to its
partners of the Grand Alliance, over the intention to withdraw from the group,
effective Jan 1, 2010.

With the notice, MISC (Malaysia International Shipping Corporation) is
effectively withdrawing its participation from the European and Mediterranean
trade lanes, covered by the memorandum of understanding ( MoU) 2007, it said in
an announcement on Bursa Malaysia (Malaysia Exchange).

MISC also said the present global economic downturn had severely impacted
the global liner industry, with many leading operators having to react radically
to manage the downturn.

The withdrawal of MISC's Liner Division from Asia-Europe trade is part
of a portfolio restructuring to reposition its business on a firmer footing to
drive future expansion.

As a result of this, the MISC Liner Division's future focus would be to
become a leading Intra-Asia operator, with the Middle-East/Indian subcontinent
and Asian trade being one of its core trade services, it explained.

MISC became a party to the Grand Alliance in 1998.

The Grand Alliance comprised Hapag-Lloyd Aktiengesellschaft Gmbh,
Nippon Yussen Kaisha, Orient Overseas Container Line Limited and MISC.

It served as a collaboration to provide shipping (container) services in the
European, Mediterranean, Trans-Atlantic and Trans-Pacific trade-lanes around the
world.
-- BERNAMA