Nippon Cargo Airlines (Headquartered in Minato-ku, Tokyo: President Tadamasa Ishida) filed an application on February 20 with the Ministry of Land, Infrastructure and Transport to revise its fuel surcharges for flights departing from Japan. The fuel surcharges will be decreased to JPY37/Kg for TC1/TC2, JPY31/Kg for TC3 long distance and JPY26/Kg for TC3 short distance. The new prices will take effect on March 1, 2009.

The Singapore kerosene fuel price(MOPS), which is the benchmark price for NCA, fell below USD60 per barrel for 14 consecutive business days since January 19. For this reason, NCA has decided to revise its fuel surcharge as per the attached application table.

1. Price application:
              TC1 (mainly North America and Latin America): JPY37/Kg
                                                                                  (Decrease of JPY7 from January 16)
              TC2 (Europe, Africa and Middle East): JPY37/Kg
                                                                                 (Decrease of JPY7 from January 16)
              TC3 long distance (TC3 excluding the following): JPY31/Ｋｇ
                                                                                 (Decrease of JPY6 from January 16)
              TC3 short distance(Hong Kong, China and Korea): JPY26/Kg
                                                                                 (Decrease of JPY5 from January 16)

2. Effective date: Beginning with the AWB issued on March 1, 2009

3. Fuel surcharge table and conditions for price reduction or abolishment :　
    Please see attached