MITSUBISHI ELECTRIC ANNOUNCES REVISED SALES AND EARNINGS FORECASTS
(April 1, 2001 - March 31, 2002)

TOKYO, September 14, 2001-- Mitsubishi Electric Corporation today announced revised forecasts, consolidated and non-consolidated, for its overall business performance in fiscal 2002 (April 1, 2001 - March 31, 2002). An interim dividend payment will not be made for the first half period.

1. Forecasts for the consolidated fiscal year 2002 results have been revised from estimated forecasts in the Financial Results announcement made on April 2001 as per below:
   
   
(1) First Half (April 2001 - September 2001) (Unit: 100 million yen)


	Net sales	Income before income taxes (loss)	Net income
Revised forecast (A)	18,000	(200)	20
Original forecast (B)	19,200	200	150
Change (A-B)	-1,200	-400	-130
Previous (2001) fiscal (first half) year results	19,006	1,250	757

(2) Annual (April 2001 - March 2002) (Unit: 100 million yen)

	Net sales	Income before income taxes (loss)	Net income
Revised forecast (A)	39,000	(200)	20
Original forecast (B)	43,000	1,200	750
Change (A-B)	-4,000	-1,400	-730
Previous (2001) fiscal (annual) year results	41,294	2,104	1,247




2. Forecasts for non-consolidated fiscal year 2002 results have been revised from estimated forecasts in the Financial Results announcement made on April 2001 as per below:
   
   (1) First Half (April 2001 - September 2001) (Unit: 100 million yen)
   

   	Net sales	Ordinary profit (loss)	Net income (loss)
   Revised forecast (A)	12,000	(70)	(420)
   Original forecast (B)	13,000	200	120
   Change (A-B)	-1,000	-270	-540
   Previous (2001) fiscal (first half) year results	13,255	631	72

   (2) Annual (April 2001 - March 2002) (Unit: 100 million yen)

   	Net sales	Ordinary profit (loss)	Net income (loss)
   Revised forecast (A)	27,000	(200)	(600)
   Original forecast (B)	30,000	800	400
   Change (A-B)	-3,000	-1,000	-1,000
   Previous (2001) fiscal (annual) year results	29,326	1,371	324

Reasons for Revised Forecast Results
In economic markets both inside and outside Japan, demand for IT-related products has been stalled and continued stagnation presently shows no sign of recovery in sight. Although the Energy and Electric Systems and Home Appliances business segments have stood firm, the outlook for profitability at other business segments has worsened, mainly in the Electronic Devices (semiconductors and others) and Information and Communications Systems (mobile phones and others) business segments. For these reasons, Mitsubishi Electric has revised its forecasts, consolidated and non-consolidated, for sales and profits in the first half and annual periods.

Furthermore, 20 billion yen for costs associated with the restructuring of the Company's North American mobile handset business and 50 billion for the streamlining of its European mobile phone business will be appropriated for an extraordinary loss in the first half period on a non-consolidated basis.

Dividend
An interim dividend payment will not be made for the first half. Dividend payment for the second half is yet to be decided.

Reference: For the previous fiscal year (2001) the dividend payment was 4 yen for the first half and 6 yen for the second half (for a total annual dividend of 10 yen per share).

About Mitsubishi Electric Corporation
With 80 years of experience in providing reliable, high-quality products to both corporate clients and general consumers all over the world, Mitsubishi Electric Corporation (FTSE: 6503q.l) 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. The company has operations in 34 countries and recorded consolidated group sales of over US$33BN in the year ended March 31, 2001. Additional information on Mitsubishi Electric is available at global.mitsubishielectric.com.