JAPAN NUCLEAR FUEL LIMITED

April 28 1998

Press Release Concerning the Founding of Nuclear Fuel Machinery Co,. Ltd.

Japan Nuclear Fuel Limited

JNFL has for some time been involved in discussions to establish a new company. Now, it is pleased to announce the upcoming establishment of Nuclear Fuel Machinery Co,. Ltd. The first meeting of the firmÕs backers, as well as the first meeting of its board of directors, was held today, and it was officially announced that the new company will begin operations on May 1st 1998.

Further details are shown on the attached page.


[Appendix]

Outline of the Nuclear Fuel Machinery Co,. Ltd.

1. Location:

Head Office

1-13, Ienomae Obuchi-Aza, Ooaza, Rokkasho- Mura, Kamikita-Gun, Aomori Prefecture

Tokyo Office

2-2-2, Uchisaiwaichou, Chiyoda-Ku, Tokyo

2. Executives:

President:

Hiromoto Iio (Executive Vice President of Japan Nuclear Fuel Limited)

Director:

Sadamasa Watanabe (General Manager of the Federation of Electric Power Companies Preparation Office for Establishment of a New Uranium Enrichment Company)

Director (part-time):

Takahiko Oono (Director, General Manager of Uranium Enrichment Dept., Japan Nuclear Fuel limited)

Corporate Auditor:

Kinichi Kamiya (Deputy General of the Federation of Electric Power Companies Preparation Office for Establishment of a New Uranium Enrichment Company)


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