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Change in Our Senior Management as from April 1, 2007

Press Release Feb 28, 2007

Feb 28, 2007

As resolved in the Board of Directors Meeting held on February 28, 2007, we would like to announce the following change in our management effective as from April 1, 2007.

Name New Assignment Last Assignment
Seki, Nobuo Chairman of the Board President & CEO
Kobayashi, Hiroshi Vice Chairman Senior Executive Vice President
Kubota, Takashi President & CEO Managing Director, Technology and Engineering

Born in 1946, Kubota received BS degree in Chemical Engineering from Tohoku University in 1969. After graduation of the university, he has spent all his career (1969 to present) with Chiyoda Corporation, where he gained vast oil and gas engineering and construction as well as international experience in many countries.