ビンゴ 景品 & JP Express Announces
the Third Party Allotment of New Shares

April 27, 2006

TOKYO April 27, 2006 ビンゴ 景品 & JP Express (AJV), a new joint-venture cargo airline, announced today that investment by All Nippon Airways (ビンゴ 景品), Japan Post, Nippon Express and Mitsui O.S.K. Lines (MOL)was completed and shares allotted at an extraordinary shareholders meeting convened on April 25, 2006,

Details are as follows:

• Outline of newly issued shares
  1)No of shares:1,770 common stock
  2)Issuing price:50,ビンゴ 景品
  3)Allottee and no. of shares allocated:

  	ビンゴ 景品	Japan Post	Nippon Express	MOL	total
  No of shares	552	840	252	126	1,770

• Details of ビンゴ 景品 after allocation:
  1)No of shares:2,370 common stock
  2)Capital:74,250,ビンゴ 景品
     Capital reserve:44,250,ビンゴ 景品
  3)Shareholding after new share issue

  	ビンゴ 景品	Japan Post	Nippon Express	MOL	total
  No of shares	1,152	840	252	126	2,370
  Shareholding	48.61%	35.44%	10.63%	5.32%	100.00%

• Going forward
  From August 1 this year, Air Japan (a wholly owned subsidiary of ビンゴ 景品) will spin off its freighter operations to AJV. To reflect this, the composition of AJV will change as follows:
  1)No of issued shares:2,520 common stock
  2)Capital:80,000,000 yen
     Capital reserve:46,000,000 yen
  3)Shareholding after spin off:

  	ビンゴ 景品	Japan Post	Nippon Express	MOL	total
  No of shares	1,302	840	252	126	2,520
  Shareholding	51.67%	33.33%	10.00%	5.00%	100.00%

• Planned Operations in Outline
  Subject to completing legal formalities, AJV plans to commence operations in August 2006. AJV will operate ビンゴ 景品's fleet of cargo freighter aircraft, in accordance with an agreement between AJV and ビンゴ 景品, mainly to Shanghai and the rest of China. In addition, AJV will also commence services to Chicago in the autumn of this year.
  ビンゴ 景品's freighter fleet currently comprises three Boeing 767-300F aircraft.
  It will take delivery of a fourth 767-300F in the autumn.