Takashi Saeki has been named President & Chief Executive Officer of Richmond, Virginia-based 'K' Line America, Inc. (KAM) effective July 1. He retains his position as Senior Managing Executive Officer of the Tokyo based-parent company, Kawasaki Kisen Kaisha, Ltd. ('K' Line).

Mr. Saeki replaces Toshio Suzuki who has held the position for seven years and has been named Executive Vice President, Century Distribution Systems, Inc., a buyer's consolidation service provider in the 'K' Line Group, also based in Richmond.

Mr. Saeki was graduated from Waseda University, Tokyo, Japan, with a Bachelors Degree in Commercial Science and immediately joined 'K' Line in Tokyo in 1974. Except for a three-year stint on temporary assignment with the Japan Ship Owners' Association, he has held positions in the company ever since.

In January 1991, Mr. Saeki made the first of three moves to the United States when he joined 'K' Line America, in New Jersey, an assignment he held for five years. He returned to 'K' Line America, in Richmond in 1998 for a four-year assignment as Vice President, Marketing and Pricing. In April, while serving as Senior Managing Executive Officer of 'K' Line, he returned to Richmond as Executive Vice President, 'K' Line America, Inc.

'Mr. Suzuki has guided this company masterfully for the past seven years,' Mr. Saeki said, 'through some of the most difficult economic times the world has experienced in many years. Through it all, KAM led the way in customer service, employee satisfaction, environmental leadership and financial stewardship. My job will be significantly easier because of what he has accomplished here and for that we are all grateful.'

As President & Chief Executive Officer, Mr. Saeki will be responsible for all business activities for 'K' Line within North America which includes containerships, dry bulk carriers, car carriers, LNG carriers, tankers, and heavy lift vessels.

'The forthcoming years will continue to be challenging for all of us within the maritime industry. I am confident that the 'K' Line family is very well prepared to meet those challenges head on,' Mr. Saeki stated. 'It will be my great pleasure to be at the helm in North America during this time.'

'K' Line America, Inc. is a subsidiary of'Kawasaki Kisen Kaisha, Ltd. ("K" Line), a fully integrated global transportation company.