May 2,2003 Mitsubishi Rayon Co., Ltd. Mitsubishi Rayon Acquires Acrylic Filament Technology from Asahi Kasei Corp. Groundwork Laid for Further Expansion of Acrylic Fiber Operations. Mitsubishi Rayon Co., Ltd. in April 2003 acquired the proprietary technology relating to acrylic filaments belonging to Asahi Kasei Corp., in addition to a portion of Asahi Kasei’s production facilities for the said filaments. Furthermore, an agreement has been reached to acquire Asahi Kasei’s related trademark rights (for PEWLON, TACTUS, and REECAS) with effect from July 2003.    Acrylic fiber is renowned for the ease with which it can be dyed in brilliant colors, as well as for its light weight and softness. Thanks to its wool-like feel, acrylic staple is extensively used for sweaters, blankets, stuffed toys and other clothing, bedding and interior goods applications. Acrylic filaments, meanwhile, combine brilliant, shiny coloring with a unique silkiness and coolness in hot weather: these properties make it ideal for ladies’ sweaters for spring and summer wear.    Mitsubishi Rayon is a comprehensive manufacturer of acrylic products, the largest in Japan, with a wide product lineup ranging from wet- and dry-spun staple through filament to synthetic leather. It is currently constructing a production plant at Ningbo in China’s Zhejiang Province, scheduled to start operation in July 2005 to take advantage of the rapidly expanding Chinese market. This is only one of many steps the management are taking to reinforce Mitsubishi Rayon’s position as the overwhelmingly dominant company in its industry in Asia.    As part of a reorganization of its fiber operations, Asahi Kasei withdrew from the business of manufacturing acrylic filaments as of the end of March 2003, leaving Mitsubishi Rayon as the world’s sole producer. In these circumstances, the transfer by Asahi Kasei to Mitsubishi Rayon of its advanced technology for the production of acrylic filaments allows the latter to effectively promote the virtues of acrylic filament textiles for a wider range of applications.    The acquisition of the know-how in question from Asahi Kasei will enable Mitsubishi Rayon to more firmly reinforce the technology that underpins its acrylic filament Silpalon, and prepares the way for a full-scale expansion of the Company‘s acrylic filament business, including the development of high-quality, high-performance products with a view to the eventual construction of additional production facilities. For further inquiries, please contact: Mitsubishi Rayon Co., Ltd. PR & IR Office:+81-3-5495-3100 Acrylic Fibers Division,Silpalon Department: +81-6-6881-6350 [PAGE TOP]