Tokyo, May 1, 1998 -- Mitsubishi Electric Corporation today announced its revised projections for consolidated financial results for the fiscal year 1998 (April 1, 1997- March 31, 1998).

The company has judged that it will be unable to meet earlier forecasts announced in February and now projects increased losses in both income before income tax and net income for the fiscal year. The increased losses can be largely attributed to three factors: the poor performance of OPTEC DAI-ICHI DENKO, Co., Ltd., an associated company, the unfavorable impact of recent revisions to the corporate tax system, and restructuring costs incurred by the firm's audio-visual business in the United Kingdom.

Revised consolidated financial projections for Fiscal 1998 are as follows:

Fiscal 1998 Projections (April 1, 1997 ~ March 31, 1998)

(100 million yen)

Net Sales	Income before Income Tax	Net Income
37,500	500	1,050

Previous Projections for Fiscal 1998 (announced in February, 1998)

(100 million yen)

Net Sales	Income before Income Tax	Net Income
38,000	400	700

For reference: Fiscal 1997 Financial Results

(100 million yen)

Net Sales	Income before Income Taxes	Net Income
37,251	679	85

About Mitsubishi Electric Corporation

With more than 75 years of experience in providing reliable, high quality products to clients and consumers all over the world, Mitsubishi Electric is a recognized world leader in the manufacture, marketing and sales of electrical and electronic equipment used in information processing and communications, space development and satellite communications, consumer electronics, industrial technology, energy, transportation, and construction. Based in Tokyo, the company has operations in over 35 countries around the world and posted consolidated sales of over US$ 35 billion in 1997.