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Releases

Notice of an Integration of Holding Companies in the U.S.

December 22, 2003

On December 19 (U.S. local time), Furukawa Electric integrated two holding companies in the U.S. in an effort to restructure the administration and support system of subsidiary companies in the country. The two companies are Furukawa Electric North America Inc. (commonly known as FENA) and Fitel USA Corp., both of which are 100% owned by Furukawa Electric, and the latter became the surviving company under the corporation law. Simultaneously with the integration, the new company changed its name from Fitel USA Corp. to Furukawa Electric North America Inc. This integration, simplifying the U.S. company organizations that once became complicated due to the acquisition of OFS, is expected to promote business efficiency.

DESCRIPTION

1. Outline of the integrated subsidiary company (Fitel USA Corp.)

1) Company name
Fitel USA Corp.
2) Representative Kiyoshi Takeuchi (Managing Director of Furukawa Electric)
3) Location 2000 Northeast Expressway, Norcross, Georgia
4) Date of establishment August 2001
5) Main business Holding company
6) Consolidated sales 251M$ (2002)

2. Outline of the integrated subsidiary company (FENA)

1) Company name
Furukawa Electric North America, Inc.
2) Representative Arinobu Sato (Manager of 1st Accounting Section, Accounting Department of Furukawa Electric)
3) Location 900 Lafayette St., Suite 506, Santa Clara, California
4) Date of establishment March, 1988
5) Main business Holding company
6) Consolidated sales 199M$ (2002)

3. Outline of the subsidiary company after integration

1) Company name
Furukawa Electric North America, Inc.
2) Representative Kiyoshi Takeuchi (Managing Director of Furukawa Electric)
3) Location 2000 Northeast Expressway, Norcross, Georgia

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