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| April 5, 2002 |
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| Concerning Transfer of US Printing Materials and Equipment Subsidiary |
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| Mitsubishi Chemical Corporation |
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Mitsubishi Chemical Corporation (Head Office: Chiyoda-ku, Tokyo; President: Kanji Shono) has agreed with Lastra S.p.A (Head Office: Manerbio, Italy; President: Roberto Ziletti) to transfer all the stocks of its US subsidiary, Western Litho Plate and Supply Co. (Head Office: St. Louis, Missouri, USA; Chief Operating Officer: Lane Palmer), which operates a business in printing materials and equipment such as presensitized plate.
Based on the agreement, Mitsubishi Chemical America, Inc., which has all the stocks of Western Litho, has already transferred it to Lastra America Corporation, a US subsidiary of Lastra.
Since Mitsubishi Chemical has acquired the stocks of Western Litho Plate in 1987, the company has manufactured and sold printing materials and equipment in the US. However, due to increasingly fierce competition in the US in recent years, it has faced a severe business environment. Under these circumstances, Mitsubishi Chemical judged that it would be best to transfer its US business to Lastra and concentrate in business development in Japan and other Asian countries in order to rationalize the business and reinforce competitiveness. Lastra is the fourth largest supplier of litho plates in the world. Its acquisition of Western Litho Plate provides a strong platform for expansion of its business.
As to the printing materials and equipment business of Mitsubishi Chemical, through its 100%-owned subsidiary, Mitsubishi Chemical Media Corporation (Head Office: Minato-ku, Tokyo; President: Yoshimitsu Kobayashi), Mitsubishi Chemical will continue to conduct its business in Japan and other Asian countries and will endeavor to strengthen its business foundation and further improve its profitability. As regards to the mutual supply of thermal computer to plate and photopolymer computer to plate that has been conducted between Mitsubishi Chemical Media and Western Litho Plate, it is planned to continue even after the transfer of the stocks.
Outline of Western Litho Plate and Supply Co.
| 1. Name |
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Western Litho Plate and Supply Co. |
| 2. Head office |
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St. Louise, Missouri, USA |
| 3. Chief Operating Officer |
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Lane Palmer |
| 4. Capital |
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US$20.8 million(As of December 31,2001) |
| 5. Shareholder |
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Mitsubishi Chemical America, Inc. (100%) |
| 6. Line of business |
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Manufacturing and sale of presensitized plate, Computer to Plate, printing materials, and chemicals |
| 7. Annual turnover |
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About US$ 100 million |
| For further information, please contact |
| Public Relations and Investor Relations Dept., |
| Mitsubishi Chemical Corporation |
| Tel: [+81]-(0)3-3283-6274 |
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