Press Releases 2006 (The former Furukawa-Sky)

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Announcement about Expansion of the Ingot Casting Facility at Fukui Works

March 14, 2006

Furukawa Sky has purchased ingot materials from overseas to alleviate the shortage of its ingot production capacity until now. On this occasion, we are announcing plans to expand the ingot casting facility at Fukui Works (location: Sakai-gun, Fukui Prefecture; works manager: Suketoki Otani) so as to upgrade our capacity to meet demand. The capital investment will total about 4 billion yen, and the facility is to be completed by June 2007. This expansion of the ingot casting facility is expected to significantly reduce work related to adjusting the inventory of raw materials and enable a reduction of the stock of ingot materials. This will also facilitate maintenance and management of the production facilities through ensuring better implementation of periodic maintenance programs of the ingot casting facility.

<Outline of Expansion of the Ingot Casting Facility at Fukui Works>
Component of Main facility : One 80-ton melting furnace, one 125-ton holding furnace, and one casting machine
Amount of investment : About 4 billion yen
Planned completion : June 2007

<Earnings impact>

We expect the sale to have no impact upon our outstanding consolidated earnings projections.