TOKYO, March 5, 2002--Mitsubishi Electric Corporation announced today a significant reorganization, effective April 1, 2002, of its management structure by forming a new "Corporate Strategy & Management Office". This new office will be composed of the three corporate functions of the current Corporate Strategic Planning Office* (responsible for the management strategy of Mitsubishi Electric and its subsidiaries and affiliates), the Associated Companies Department (responsible for increasing management strength among subsidiaries and affiliates) and the Public Relations Department (responsible for corporate PR strategy).

The purpose of this reorganization is to enhance the structural reform of management in Mitsubishi Electric and its consolidated subsidiaries and affiliates. With the aim of increasing corporate value, the new reform will also promote planning and implementation of PR strategy in line with management's policy making.

As a result of this structural reform, Mitsubishi Electric's objectives are:

• Further strengthening of consolidated management structure both in Japan and overseas with accelerated promotion of global strategies
  
• Strengthened and improved corporate information dissemination function (especially IR)
  
• Accelerated promotion of positive business structural reform, including strategic business alliances

About Mitsubishi Electric Corporation
With over 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.

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