Mitsui Rail Capital Europe B.V. in Amsterdam (MRCE) and Dispolok GmbH in Munich (Dispolok) will take an important step in integrating their locomotive leasing operations as of April 1, 2008.

MRCE successfully established in October 2004 as a subsidiary of Mitsui & Co., Ltd. (Mitsui) for locomotive leasing operation in Europe, and Dispolok, acquired by Mitsui in October 2006, will integrate their operations to create one of the largest European locomotive operating lessors and service providers with more than 200 locomotives already delivered to customers in more than 10 countries in Europe.

The integration will comprise a transfer of all leasing operations to Munich, which will be renamed MRCE Dispolok GmbH (MRCE Dispolok), and a concentration of all corporate operations in Amsterdam, which will continue to carry the name of Mitsui Rail Capital Europe B.V. All day-to-day locomotive lease operations including sales & marketing, fleet management, logistics management and service & maintenance management for the entire fleet of MRCE and MRCE Dispolok will be centralized in Munich, while the marketing and technology strategy & development, business administration, financing and budgeting, locomotive procurement and ownership will be homed in Amsterdam. Current MRCE sales staff will be operationally assigned to MRCE Dispolok but physically remain in Amsterdam to be closer to core customers in North & Western Europe. All shares of Mitsui in Dispolok will be transferred to MRCE. A new corporate identity and logo design will be introduced including the unification of the entire fleet to a black color scheme.

This integration is to combine the industrial and financial strength of MRCE and Dispolok and to establish the basis for further expansion and diversification.􃧹r. Miki, the current CEO of MRCE and future Managing Director, Group CEO of MRCE explained: “The integration will be mainly driven by using best the existing expertise and capabilities at the actual locations and we have not been chasing a holding structure but more a vertical concentration into corporate and market functions”. Mr. Stahl, the current President and COO of MRCE and future Managing Director, Group Marketing & Strategy of MRCE outlined: “This will be to combine the strength of both while eliminating weakness. We think to have created an organization which by operations has an unparalleled depth of know-how and functions in this specific market and commit to spearhead market development to all aspects in favor of our business partners”. Dr. Breinl, the current COO of Dispolok and future Chief Officer, Group Technology, Development of MRCE added;” We are leading ETCS development having invested in a very promising and future oriented design and configuration for our fleet and have started to look into a different design of locomotives”.

For the near future, MRCE will focus on the European Rail new development by supporting and assisting privately and nationally held railways to regain transportation market shares, while endeavoring to protect the environment, as well as to improve the efficiency of the supply of goods to meet the growing demands of the society. In close cooperation with Mitsui, MRCE is planning to diversify into various new business segments related to rail freight transportation.

We value your patronage and believe that this new and more focused structure will broaden and strengthen our ability to be of service for you. We want to be on your side wherever you need us. - MRCE