The amount of capital, representative director, head office location, and other items concerning the establishment of Advanced Cable Systems Corp. (ACS), a joint venture between Hitachi Cable, Ltd. and Corning Cable Systems LLC, have been decided as follows.

Hitachi Cable and Corning Cable Systems (Headquarters: North Carolina, U.S.A.; CEO: Larry Aiello; hereinafter "CCS"), a fiber-optic cable manufacturing company belonging to the Corning Group, each took a 50% equity stake in the formation of ACS with the aim of strengthening their production of fiber-optic cables for the Japanese market. Both Hitachi Cable and CCS will transfer all functions concerning the production of fiber-optic cables for sale in Japan to ACS, whose highly efficient manufacturing system will integrate manufacturing equipment and technologies from both companies.

Hitachi Cable and CCS reached a memorandum of understanding regarding the establishment of ACS in December 2001.

ACS Company Profile

1. Name of company:	Advanced Cable Systems Corp.
2. Capitalization:	750 million yen (as of the projected first day of operations)
3. Ratio of equity held:	CCS: 50%; Hitachi Cable: 50%
4. Date of establishment:	Mar-02
5. Start of operations:	Aug-02
6. Scale of operations:	Annual net sales of approximately 25 billion yen (estimate based on the combined fiscal 2001 results from both companies)
7. Representative:	CEO: Yoshinobu Koizumi (General Manager, ACS Project Office, a division of Hitachi Cable's Information Systems Group)
8. Board of Directors:	CSS and Hitachi Cable will each have three representatives
9. Number of employees:	Approximately 300 (tentative)
10. Products:	Fiber-optic cables (for the Japanese market)
11. Head office:	1-6-1 Chiyoda-ku, Otemachi, Tokyo (registered)
12. Manufacturing base and substantially head office:	5-1-1 Hitaka-cho, Hitachi City, Ibaraki 319-1414 (Part of Hitachi Cable's Hitaka Works )

CCS Company Profile

1. Head office:	Hickory, North Carolina, U.S.A.
2. Established:	2000
3. Number of employees:	10,000
4. Main business activities:	A wholly owned subsidiary of U.S.-based Corning Inc. with manufacturing and sales units in 20 countries worldwide, CCS provides a range of network solutions, including fiber-optic cables and devices and other products for use in metallic networks. With total quality as its operating principle, the Company is striving to provide dependable quality products and services, while aiming to satisfy customers worldwide.