NAIS-IS Announces Sale of Shares by Matsushita Electric Works

NAIS-IS Announces Sale of Shares by Matsushita Electric Works

Matsushita Electric Works Information Systems Co., Ltd. (NAIS-IS) announced today that a sale of shares under the following terms and conditions was approved by a resolution of the Board of Directors at a board meeting held on 24 October 2003.

1. Number of shares to be sold: 4,000 shares of common stock
2. Seller and number of shares: Matsushita Electric Works, Ltd. - 4,000 shares
3. Sale price: Undetermined (The sale price will be determined on a day during the period from 5 November 2003 to 10 November 2003.)
4. Sale Method: Nikko Citigroup Limited, Nomura Securities Co., Ltd., Daiwa Securities SMBC Co., Ltd., UFJ Tsubasa Securities Co., Ltd., and SMBC Friend Securities Co., Ltd. will underwrite all of the shares. The consideration paid by the purchasers for the sale shall be the total amount of the sale price less the underwriting price (the amount paid by the acquirers to the seller).
5. Application period: Schedule for the first business day after the sale price is determined to the third business day after the sale price is determined.
6. Transfer date: Scheduled for seven business days after the sale price is determined.
7. Application margin: An amount equivalent to the sale price per share.
8. Minimum application share lot: 1 share
9. A marketable securities notice was issued concerning the above information on 24 October 2003 in accordance with the Securities and Exchange Law.