Electric Wires and Cables，Power Cables for High-Voltage Transmission. At meetings of the Boards of Directors of Mitsubishi Materials Corporation (“MMC”) and Mitsubishi Cable Industries (“MCI”) held today, resolutions were approved to convert MCI into a wholly owned subsidiary of MMC through a share exchange pursuant to a share exchange agreement, which was also executed today (the “Share Exchange”). The share exchange agreement must be approved at an extraordinary general meeting of the shareholders of MCI scheduled for February 9, 2010, and the effective date of the Share Exchange is scheduled for March 12, 2010. In accordance with Article 796, Paragraph 3, of the Companies Act, MMC intends to conduct a simplified share exchange that will not require approval at a general meeting of its shareholders. In addition, it is expected that MCI’s shares will be delisted on March 9, 2010, in advance of the Share Exchange effective date, which is scheduled for March 12, 2010. The last day

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