26 May 2000
Chubu Electric Power Company

On January 7 of this year, Chubu Electric Power Company announced plans to form a joint venture company with Iwatani International Corporation. The plans were made with a view to strengthening operations in the face of electric power industry liberalization, and were designed to draw on the strengths of both companies. As a result of subsequent discussions between the two parties, plans to establish a new LNG retail sales company have been virtually finalized.

1. Name of the Company

LNG Chubu Co., Ltd.

2. Date of Establishment

8 June 2000(Scheduled)

3. Capitalization (at startup)

two hundred million yen (51% Chubu Electric Power Company; 49% Iwatani International Corporation)

4. HeadOffice

Kawagoe-Machi, Mie Prefecture (within the grounds of Chubu Electric Power Company’s Kawagoe Thermal Plant)

5. Activities

LNG sales
LNG will be delivered to customers by truck from a facility at the Kawagoe Thermal Plant. Sales efforts will target large industries located within a few tens of kilometers of the Kawagoe LNG Facility.

6. Estimated Sales

Volume of Sales :	20~50 thousand tons within 5 years of startup
Revenue :	FY2001 100 million yen FY2005 one billion yen

7. No. of Personnel

8

Management Personnel (at startup)

President	Katsuya Muroki		Managing Director, Chubu Electric Power Company
Director	Shigeoki Mori	(part-time)	Managing Director, Iwatani International Corporation
Director	Satoshi Onoda	(standing)	Chubu Electric Power Company
Director	Toshihisa Takita	(standing)	Iwatani International Corporation
Auditor	Hiroshi Watanabe	(part-time)	Auditor, Chubu Electric Power Company