News Room 2003 (The former Furukawa-Sky)

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On the Launch of Furukawa-Sky Aluminum Corp. (Exhibit 3)

October 2, 2003

Furukawa-Sky Merges Aluminum Center Subsidiary

On December 1, 2003, Furukawa-Sky merged three of its affiliates -- Aluminum Center 21, Furukawa Aluminum Coil Center, and Yamato Light Metal Co., Ltd. -- to form ACE21 Co., Ltd.

The new company will provide top-notch service in the industry as an aluminum-producing company to meet a wide range of customer needs with a manufacturing base in both East and West Japan and various facilities, including four coil cutting machines, 18 shirring machines, and eight sheet masking machines.

1. Description

Details of the Merger

Aluminum Center 21, Furukawa Aluminum Coil Center and Yamato Light Metal Co., Ltd. were merged on December 1, 2003. Aluminum Center 21 was the surviving company, which was renamed ACE21 Co., Ltd.

Two Production Bases: East and West

Aluminum Center 21, located in the city of Fukaya, Saitama prefecture, and the Furukawa Aluminum Coil Center, located in the city of Oyama, Tochigi prefecture, were unified as the East Japan Business Division. Yamato Light Metal in Shiki-gun, Nara prefecture, has become the West Japan Business Division. These two production bases will be used to provide quick and efficient service nationwide.

Relocation of Ogawa Cutting Line to Fukaya Site and Integration of Bar Manufacturing Plant

After the merger, the facilities at the Furukawa Aluminum Coil Center in Oyama will be moved to Fukaya as soon as possible and the production system will be integrated under the East Japan Business Division. Also, the bar currently being manufactured at Furukawa-Sky's Fukui Site and Fukaya Site will be integrated into the Fukaya Site production. This will allow the East Japan Business Division to take advantage of its location at the Fukaya Site to rapidly supply materials, expand the range of processing using the facilities, and achieve a fast-response delivery system.

Sales Shifted from Unifus Aluminum

Among the products currently being sold by Unifus Aluminum Co., Ltd. are small-lot, quick-delivery and sketch-sized products, the production and sales of which will shift to the new company, ACE21. This will allow the company to advance a system that offers even better response to customers' needs than at present. Furukawa-Sky's coil center functions are currently top-of-class in the industry, and with the merger and improved production system we are confident of being able to provide even better service to lead the industry.

2. Outline of New Company