TO ALL VALUED SOFRANA CUSTOMERS:

Global fuel prices have yet again reached new record levels. Accordingly, we are left with no viable option but to adjust our BAF to reflect this significant cost change in operating our business.

We have now completed a review of our baf from Papua New Guinea & Solomon Islands to New Zealand, Australia & New Caledonia. We wish to advise that effective from 30 June 2008, the BAF will be increasing by +2.5%, to:

BAF +32.5%

The new baf will come into affect from the following vessel/voyage:-

Sofrana Magellan V121 Loading Papua New Guinea 30 June â?? 03 July 2008 and Honiara 12 July 2008

Should you have any queries or require additional information please contact your local Sofrana agent.

Yours faithfully

Sofrana Unilines NZ Ltd