"K" LINE WARNS OF BOOK LOSSES ON STOCKS

“K” LINE WARNS OF BOOK LOSSES ON STOCKS

   "K" Line said its marketable securities showed an unrealized book loss
of 12.9 billion yen ($117 million) on March 31, the end of its fiscal year.
   Marketable securities with a book value of 34.8 billion yen ($316
million) on the company’s balance sheet now have a market value of only
Yen21.9 billion ($199 million), the company said.
   "K" Line also recorded unrealized gains on marketable securities of
Yen16.3 billion ($148 million) on March 31.
   "K" Line will soon announce its annual results for its 1998-1999 fiscal
year.