Dear Sir/Madam,

World Shipping (China) Summit 2004 (15-16 July 2004, China World Hotel, Beijing)

China is recently recognized as a key driving factor for the world shipping industry. China's import and export have brought about rapid and remarkable growth of shipping demand. China- an open market, is an opportunity for the whole shipping, both at home and abroad.

In order to establish a China-based international forum to provide opportunities for global shipping community to gather in and exchange opinions, Cosco Group is going to host such an annual event in Beijing from this year, associated with Drewry Shipping Consultants, a leading international shipping consultants, and Maritime China Magazine.

The subject of this year's annual Summit is: China Factor. There will be high level participants both from the Chinese government and top management of international conglomerates around the world. I am personally going to attend this conference as well.

We hope, the forthcoming event will provide a unique opportunity for receiving high level presentations, both on development of the world maritime business and shipping demand of China, for instance, from the government agencies, top shipping companies, terminal operators , steel mills£¬petroleum industry etc., networking with the most influential shippers or cargo owners, ship operators in this rapidly developing market.

I would like to invite you to spare your precious time to attend the "World Shipping (China) Summit 2004". It will be our pleasure to have your presence at the summit. We look forward to welcoming you and your colleagues to be with us and sharing views on the development of shipping industry on 15-16 July, Beijing.

Yours sincerely,

Capt. Wei Jiafu Chairman,China Shipowners' Assotiation Group President & C.E.O COSCO Group