The "International Headquarters (IHQ)" award from the Economic Development Board of Singapore (EDB) marks a key phase in the development of Panalpina in South East Asia Area. The Economic Development Board of Singapore has awarded Panalpina (www.panalpina.com) World Transport (S) Pte Ltd (Panalpina Singapore) with the IHQ Award in recognition of Panalpina's commitment to Singapore in terms of regional headquarter activities, business investments and employee development.

The companies under the EDB HQ program are well-established in their respective business sectors or industries and have attained critical size in terms of equity, assets, employees and business share. "We are honored to be recognized by the Economic Development Board of Singapore with this award. Our staff and management team in Singapore are the ones who made this happen. We've also had great support and cooperation from the Government of Singapore as we established our presence in the area, we are confident that we will continue to take part in the success of Singapore," stated Lars-Ola Gunnarsson, Regional CEO of Panalpina Asia-Pacific.

Panalpina Oil & Gas (O&G) is a major contributor to the success of Panalpina globally and has made a focused commitment to Singapore and the Asia Pacific region. The company's dedicated O&G warehouse facility located in Singapore's Tuas Industrial Estate provides a full range of logistical support services to many of the major O&G clients operating in the region. The company's O&G Operations Competence Centre for South East Asia is located in Singapore consisting of experienced and dedicated O&G operations professionals to provide a full range of "upstream" and "downstream" services.

The company's IT Competence Center for the Asia-Pacific Region is also located in Singapore taking advantages of the strong work ethic and high educational level typical of the area. The competence center provides vital regional IT services and support to a number of offices in over 11 countries throughout the region and thus is providing a critical regional support backbone for the group's growth and ever enhancing services.

Panalpina Singapore has been present in Singapore since 1977 and is located at 1 Pickering Street #08-01 Great Eastern Centre, Singapore 048659. Tel: +65 6274 0188; Fax: +65 6277 4848.

Vietnam

Celebrating its tenth anniversary in Vietnam, Panalpina, gathered its 100 associates and customers to a gala dinner at Omni hotel in Ho Chi Minh City.

"Over the years, Panalpina has grown into one of the major forwarding players in Vietnam. We and our local partner have come a long way together since we first began operations in 1995. Our continuous efforts and commitment to the country have been reflected in our annual double-digit business growth over the years, both in air and sea freight. There is still a long way to go, but the future is bright." Marc Gerber, chief representative of Panalpina Vietnam remarked.

Panalpina has been present in Vietnam since early 90's with the establishment of a OPanalpina department' within the structure of its local partner, Vinatrans International Forwarder, a state owned company under the Ministry of Trade of Vietnam. Panalpina officially opened its representative office in Ho Chi Minh City in 1995.

Last year, in 2004, the company had moved into a new bigger premise with its agent to cope with rapid expansions and further cater on the growing market. Panalpina World Transport Ltd. (Representative Office) is located at 285 Nguyen Van Troi Street, Ward 10 Phu Nhuan District, Ho Chi Minh City. Tel: +84 8 9974780; Fax: +84 8 9974790.