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For Immediate Release

Hitachi Metals, Ltd. (March 29, 2005)
Code:5486
URL http://www.hitachi-metals.co.jp
2-1 Shibaura 1 chome, Minato-ku, Tokyo
Contact: Sig Ishigay, Officer and General Manager
Corporate Communications Tel: +81-3-5765-4073
Stock Exchange where listed (section): Tokyo(First), Osaka(First)

Notice of Dissolution of Subsidiary

Tokyo, Japan, March 29, 2005—— Hitachi Metals, Ltd. has announced a decision to dissolve Hitachi Metals Australia Pty. Ltd., a subsidiary, as follows.

1. Dissolution of Hitachi Metals Australia Pty. Ltd.

(1) Background to dissolution

Hitachi Metals Australia Pty. Ltd. has engaged in business activities as a sales base in Australia. Due to declining demand amid a shrinking market in recent years, Hitachi Metals has decided to dissolve Hitachi Metals Australia Pty. Ltd. as a part of restructuring measures for the Hitachi Metals Group.

(2) Company Profile

Name: Hitachi Metals Australia Pty. Ltd.
Location: Suite 104, 11 Spring Street, Chatswood, N.S.W. 2067, Australia
President and Representative Director: Tony, Wesley
Business: Sales of Hitachi Metals products in Australia
Date Est.: April 1, 1984
Total Assets: ¥155 million (as of February 28, 2005)
Settlement Period: March 31
Capital and Ownership Ratio: ¥32 million (held entirely by the Hitachi Metals)
Past Three Years' Results:

	Fiscal 2001	Fiscal 2002	Fiscal 2003
Net Sales	¥334 million	¥348 million	¥358 million
Ordinary Profit	(¥ 1 million)	(¥ 2 million)	(¥ 2 million)
Net Income	(¥ 1 million)	(¥ 2 million)	(¥ 2 million)

2. Upcoming Agenda: Designated for breakup on April 8, 2005

3. Impact on Hitachi Metals performance

The impact of the dissolution of this subsidiary has already been factored into the Company's earnings estimates, so there will be no revisions to earnings estimates.