As previously announced, Mitsubishi Rayon Co., Ltd. entered into a definitive agreement to acquire the outstanding shares of Lucite International Group Limited (“Lucite”, headquartered in UK) in November of 2008.

Recently, certain press organizations have published articles regarding the timing of regulatory approvals for the proposed acquisition. While Mitsubishi Rayon does not comment on rumors or speculation, Mitsubishi Rayon is unaware of the source of the press articles and continues to progress with all regulatory matters as originally planned and publicly announced on March 6, 2009. The process of obtaining outstanding regulatory approvals is still continuing in a constructive manner and Mitsubishi Rayon expects to complete the acquisition of Lucite promptly after obtaining all necessary regulatory approvals.