2002 The former Hitachi Cable News Release

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Hitachi Cable, Ltd.
Furukawa Electric Co., Ltd.

Shanghai Sunshine Copper Products, Ltd. Begins Operation

Shanghai Sunshine Copper Products, Ltd. (Headquarters: Songjiang Industry Area Shanghai, China; President: Katsuhisa Furuichi) a joint venture between Hitachi Cable, Ltd. (Headquarters: Chiyoda Ward, Tokyo; President and Representative Director: Seiji Hara) and Furukawa Electric Co., Ltd. (Headquarters: Chiyoda Ward, Tokyo; President: Junnosuke Furukawa), and Shanghai Songjiang Economical & Technical Development and Construction General Corporation-held an inaugural ceremony on October 14, 2002, and commenced operations the same day.
The ceremony was attended by approximately 300 people, including the three companies' presidents and Shanghai government officials.

Shanghai Sunshine Copper Products was established for the primary purpose of manufacturing and selling inner-grooved copper tubes used in air conditioners and the freezers of heat-exchange units.
Using the superior manufacturing technology and cutting-edge equipment provided by Hitachi Cable and Furukawa Electric, Shanghai Sunshine Copper Products has created an integrated system that includes melting and casting copper as well as the production of high-performance multi-grooved copper tubes, to respond to the needs of the rapidly growing Chinese market.

Summary of Shanghai Sunshine Copper Products, Ltd.
Headquarters: No. 5, Cao Nong Lu, Songjiang Industry Area Shanghai, China
Capitalization: US$50 million
Major Shareholders: Hitachi Cable, Ltd.: 45%, Furukawa Electric Co., Ltd.: 45%, Shanghai Songjiang Economical & Technical Development and Construction General Corporation: 10%
Established: December 2000
Site size: 86,000 m2
Building area: 30,000 m2
Employees: 142 (As of March 31, 2002)
Products: Inner-grooved copper tubes
Production capacity: 20,000 tons/year (Fiscal 2004)
Net sales target: Approximately 4 billion yen (Fiscal 2004)