Mitsubishi Corp. - Additional Share Purchase

RNS Number:1566R
Mitsubishi Corporation
31 March 2008

Translation of report filed with the Tokyo Stock Exchange on March 31, 2008

MITSUBISHI CORPORATION SUBSCRIBES TO PRIVATE PLACEMENT OF SHARES BY CHIYODA
CORPORATION

Mitsubishi Corporation (MC) has announced that a Board of Directors meeting held
today approved the purchase of an additional stake in Chiyoda Corporation (1st
Section, Tokyo Stock Exchange; Stock code: 6366) via subscription to a private
placement of shares by this company, as detailed below. The purchase of these
additional shares will bring MC's shareholding in Chiyoda Corp. to 33.4% and MC
will therefore treat Chiyoda Corp. as an equity-method affiliate.

1. Reason for Purchasing Additional Shares

MC and Chiyoda Corp. have cooperated in a wide range of activities, including
tendering for projects, construction and procuring construction materials and
equipment. MC believes that by subscribing to all shares offered by Chiyoda
Corp. through the private placement and by building an even stronger
relationship with this company than before, it can help increase Chiyoda Corp.'s
corporate value. MC is committed to working with Chiyoda Corp. through a
business alliance to help this company achieve further growth.

2. Profile of Counterparty

1) Company: Chiyoda Corporation

2) Representative: Takashi Kubota, President & CEO

3) Head Office: 12-1, Tsurumichuo 2-chome, Tsurumi-ku, Yokohama, Japan

4) Established: 1948

5) Main Businesses: Design and construction of petroleum, gas,
petrochemical, pharmaceutical and other plants, etc.

6) Fiscal Year-end: March

7) No. of Employees: 2,807

8) Shareholdersf Equity: 84.8 billion yen (as of September 30, 2007)

9) No. of Issued Shares: 193,182,529 (as of March 28, 2008)

10) Major Shareholders and Shareholdings (as of September 30, 2007)

Mitsubishi Corporation 10.27%

The Bank of Tokyo-Mitsubishi UFJ, Ltd. 4.67%

The Master Trust Bank of Japan, Ltd. (Trust Account) 4.53%

Mitsubishi UFJ Trust & Banking Corporation 4.15%

State Street Bank and Trust Company (Trust Account) 4.06%

Japan Trustee Services Bank, Ltd. (Trust Account) 3.83%

The Bank of New York, Treaty Jasdec Account 1.81%

SSB Client Omnibus OM04 1.74%

BNP Paribas Securities Services Luxembourg Jasdec
Securities 1.66%

Calyon DMA OTC 1.62%

11) Operating Results (Recent 3 years)

March 2005 March 2006 March 2007

Revenues (Million yen) 267,655 390,875 484,895
Operating Income (Million yen) 11,077 20,729 28,700
Recurring Profit (Million yen) 11,587 23,161 36,797
Net Income (Million yen) 12,863 19,400 23,531
Net Income per share (Yen) 68.62 101.27 122.41
Annual Dividend per Share (Yen) 6.00 10.00 15.00
Net Assets per Share (Yen) 193.22 288.88 400.56

3. No. of Shares to Be Purchased, Purchase Price and Shareholding Before and
After Purchase

No. of shares held before this purchase 19,851 thousand

No. of shares to be purchased 67,080 thousand

No. of shares to be held after this purchase 86,931 thousand

Purchase price: 907 yen/share (95% of the
average closing price from
February 29, 2008 through
March 28, 2008)

4. Schedule

March 31, 2008 Board of Directors resolution

April 1-29, 2008 Due diligence

April 30, 2008 Payment for shares

5. Outlook

This share purchase will have no effect on Mitsubishi Corporation's operating
results for the fiscal year ending March 31, 2008.

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This information is provided by RNS
The company news service from the London Stock Exchange
END

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