MOL (America) Inc. will establish a new shipping agency in Panama to handle all commercial activities for MOL’s container division, effective May 1, 2003. The new company will be named MOL (Panama) Inc. Additionally, Boyd Steamship Corporation will handle Canal transits for MOL’s container division, allowing the two companies to Julio De La Lastra has been named President and Chief Operating Officer of MOL (Panama). He brings 24 years of maritime industry experience to his new position. Prior to joining MOL, Mr. De La Lastra served as Vice President of Liner Operations for Boyd Steamship Corp. In February 2002, the President of Panama, Mireya Moscoso, presented MOL the Panama Maritime Excellence Award.