Mitsubishi Electric Names New President & CEO, Chairman

TOKYO, March 5, 2002—Mitsubishi Electric Corporation today named Dr. Tamotsu Nomakuchi as the company’s new president & CEO. Scheduled to assume his new position on April 1, 2002, Dr. Nomakuchi will be replacing Dr. Ichiro Taniguchi, who will be appointed to the new position of Chairman.

Dr. Nomakuchi was born in 1940 in Kagoshima Prefecture and received his doctorate in physics from Osaka University in 1978. Joining Mitsubishi Electric in 1965, Dr. Nomakuchi first served as a researcher in the company’s Central Research Laboratory. He joined Mitsubishi Electric’s board of directors and assumed the post of senior vice president and vice president of Corporate Research and Development in 1997. In 2001, Dr. Nomakuchi was promoted to his former position of executive vice president and vice president of Information Systems & Network Services.

Born in Hyogo Prefecture in 1936, Dr. Taniguchi received his engineering doctorate in 1972 from Kyoto University. He joined Mitsubishi Electric Corporation in 1959 and was first named to the company’s board of directors in 1991. He became the general manager of the Electronic Products and Systems Group in 1995 and, after becoming a senior managing director in June 1997, was promoted to the position of president & CEO in June 1998.

About Mitsubishi Electric Corporation
With over 80 years of experience in providing reliable, high-quality products to both corporate clients and general consumers all over the world, Mitsubishi Electric Corporation (FTSE: 6503q.l) is a recognized world leader in the manufacture, marketing and sales of electrical and electronic equipment used in information processing and communications, space development and satellite communications, consumer electronics, industrial technology, energy, transportation and construction. The company has operations in 34 countries and recorded consolidated group sales of over US$33BN in the year ended March 31, 2001. Additional information on Mitsubishi Electric is available at Global.MitsubishiElectric.com.

# # #

For More Information:
Katsuyuki Hashimoto
Public Relations Dept.
Mitsubishi Electric Corporation (Tokyo)
Tel: +81-3-3218-2346 Media inquiries only
Katsuyuki.Hashimoto@hq.melco.co.jp