Neptune Orient Lines Limited (“NOL”) is pleased to announce that it has today completed the sale of its logistics business, APL Logistics Ltd (“APLL”), to Kintetsu World Express, Inc. (“KWE”) for an aggregate purchase price of USD1.2 billion, subject to adjustments for the net cash and net working capital of APLL and its subsidiaries as at the completion date. NOL will announce the final purchase price after such adjustments have been determined.