June 29, 2001

New Stock Issue

Japan Nuclear Fuel Limited

JNFL is pleased to announce that at the 22nd annual General Stockholders' Meeting held today, a resolution was passed approving the issuance of an additional 3 million shares of par value capital stock. Funds generated from sale of the stock to third parties will be used to finance nuclear fuel reprocessing plant construction. With the issuance of the new shares, JNFL capital will increase by 30 billion yen to 170 billion yen. Details of share distribution will be decided at a board of directors meeting to be held in the near future.