NEC-Mitsubishi Electric Visual Systems Corporation to become NEC Corporation wholly-owned subsidiary

Munich – 21 ^st February, 2005 – NEC-Mitsubishi Electronics Display (“NEC-Mitsubishi”) today announced that its parent company NEC-Mitsubishi Electric Visual Systems Corporation (“NM Visual”), a joint venture company of NEC Corporation and Mitsubishi Electric Corporation since January 2000, will become a wholly-owned subsidiary of NEC Corporation on March 31P ^st , 2005. On becoming a 100 per cent subsidiary of NEC Corporation, a $47 billion worldwide provider of computer and communications solutions, the company will be renamed and repositioned as an NEC display solutions company. The new company will commence operations well positioned for success with full-access to NEC Corporation’s robust technology, research and development, and rich history of product innovation. NEC Corporation will acquire 100% ownership of NM Visual, a company that has developed a strong market leading position in display products, achieved six consecutive quarters of profitability and owns the premier brand in the display industry, NEC MultiSync ^® .

The combination of NEC’s technology leadership in liquid crystal display (“LCD”) technology and Mitsubishi Electric’s manufacturing expertise in high-end cathode ray tube (“CRT”) technology in the year 2000 positioned the joint venture for strong growth in the display industry. The speed with which the market has migrated from CRT to LCD technology over the last year has surprised both NEC and Mitsubishi Electric. This market shift results in a determination by both companies that the timing was right for NEC Corporation to assume full ownership of NM Visual.

Under the new ownership structure, the new NEC display solutions company will continue to offer the kinds of award-winning products, programs and services to its channel and end-user customers that have helped to make the company the leading stand-alone vendor of flat panel desktop displays.

“We feel very confident that the new ownership structure will offer many new opportunities for future growth through the access of new products and services and the simplification of our sales strategies. The change will have little impact on the fundamentals of our business or day-to-day operations as NEC has a strong brand presence in Europe”, said Nick Akagi, Managing Director of NEC-Mitsubishi Electronics Display-Europe GmbH. “We are very proud of our achievements as NEC-Mitsubishi Electronics Display over the last years, but we are also looking forward to further leverage the strengths of NEC Corporation as we move forward.”

NEC-Mitsubishi Electronics Display-Europe GmbH

NEC-Mitsubishi Electronics Display-Europe GmbH with its headquarters in Munich, Germany, is a 100 percent subsidiary of NEC-Mitsubishi Electric Visual Systems Corp. (NMV), Tokyo. The joint venture between NEC and Mitsubishi Electric in the monitor sector was established on 18th January 2000 in Tokyo, Japan, with effect from 01 April 2000. The new company also commenced activities in Europe and the USA on 1st July 2000. In Europe, NEC-Mitsubishi Electronics Display-Europe GmbH has subsidiaries in Germany for Central Europe, France and the United Kingdom as well as sales offices in Italy, the Netherlands, Russia, Spain, Sweden, Norway and Poland. By means of the joint venture between NEC and Mitsubishi Electric, the company combines the know-how and the technological edge of both companies in the monitor sector. NEC-Mitsubishi Electronics Display with its own Research and Development is one of the world's leading manufacturers of desktop monitors, large-format LCDs - so-called public displays - and special displays for the colour management market as well as in the medical field. The management of NEC-Mitsubishi Electric Visual Systems Corp. is shared equally between both partners. President and CEO is Hirotoshi Matsuda. NMV employs more than 1,500 staff worldwide. Managing Director of the European headquarters is Noboru Akagi.

You will find more information at www.nec-mitsubishi.com .

Press Contact:

Sabine Meinitz, Corporate Communications Manager Europe
NEC-Mitsubishi Electronics Display-Europe GmbH
Landshuter Allee 12-14
80637 Munich/Germany
Tel.: +49+89/99 699-272
Fax: +49+89/99 699-525
E-mail:  sabine.meinitz@de.nmvs.com