Issue 451, September 16, 2004
Market activity on the trans-pacific is intensifying as we enter the critical phase of the peak season in terms of demand for space.

Please note per schedule below that entries in black summarize our previous announcement on 16 July, 2004. Entries in red are new announcements for the second wave of PSS increases.

The introduction of PSS in Thailand and Malaysia is in accordance with our forecast that the peak would come later in these two markets compared to North East Pacific origins.

For Hong Kong and Taiwan, two of the most traditionally cyclical peak markets, we have decided to phase the increases into two steps in order to minimize the burden on customer budgeting and closely mirror the incremental market situation.

Origin	Surcharge #1	Effective date	Surcharge #2	Effective date
Hong Kong (HKG)	15%	Aug 16, 2004	12%	Sep 16, 2004
Vietnam (SGN, HAN)	15%	Aug 16, 2004
China (PEK, SHA)	25%	Sep 15, 2004
Taiwan (TPE)	15%	Aug 16, 2004	15%	Oct 1, 2004
Philippines (MNL)	USD 0.20/kg	Aug 1, 2004
Korea (SEL)	15%	Sep 1, 2004
Malaysia	10%	Oct 1, 2004
Singapore (SIN)	10%	Sep 1, 2004
Thailand (BKK)	20%	Oct 1, 2004
Indonesia (JKT)	15%	Aug 16, 2004

Should you have any questions, please do not hesitate to contact your DHL Danzas Air & Ocean account manager. As soon as the peak market situation recedes we will inform you about our plans to rollback the PSS.

Sincerely,

Brian Lindholm,
Executive Vice President and COO,
North America,
DHL Danzas Air & Ocean

Please note that due to the complex nature of the subject matter, DHL Danzas Air & Ocean cannot be responsible for actions taken by the reader in reliance on the information contained herein without prior consultation with DHL Danzas Air & Ocean.