On November 11, 2008, Mitsubishi Rayon Co., Ltd. announced its intention to purchase Lucite International Group Limited of the United Kingdom, and to convert the company into a consolidated subsidiary of Mitsubishi Rayon. We herewith announce that all procedures required for the said purchase and the inclusion of Lucite International in the Company’s scope of consolidation were completed on May 28, 2009.

The acquisition of Lucite International will make Mitsubishi Rayon into the leading company in the world MMA monomer market, and it constitutes the first step in expanding the Company’s core business, which is a priority issue under our current medium-term plan for three years to March 2011.

Mitsubishi Rayon will become the sole possessor of the world’s current three main technologies for MMA production, and the Company will be the largest maker of MMA monomer with a balanced production structure encompassing the United States, Europe, and East Asia. Thanks to this production system and its superior technology, including the new ethylene process (Alpha technology) of MMA production, the Company will be well-placed to satisfy all its customers’ needs, thereby achieving growth.

The assets and liabilities held by Lucite International will be included on the balance sheet of Mitsubishi Rayon for the settlement of accounts, on a consolidated basis, as of June 30, 2009, the end of the first quarter of fiscal 2009 (the business year ending March 31, 2010). However, profits and losses recorded by Lucite for the first quarter will be excluded from the income statements of Mitsubishi Rayon on a consolidated basis.