At a meeting held on May 10, 2006, the Board of Directors of Mitsubishi Rayon resolved to raise the term-end dividend payable for the business term ended March 31, 2006 in accordance with the details given below.

Reason for Revision:
At the Company's announcement of interim business performance for fiscal 2005, made on November 10, 2005, we stated our intention to pay a fiscal 2005 term-end dividend of ¥4 per share. However, in view of the business performance figures for fiscal 2005 announced today, the Board of Directors has decided to submit a proposal, for approval by the Company's shareholders at the 81st Regular General Meeting of Shareholders (to be held on June 29) to raise the term-end dividend to ¥5 per share.

Details of Dividend Payments: