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ISSUANCE OF DOMESTIC UNSECURED Y易游体育app官网入口 BONDS

December 12, 2008

Kobe Steel, Ltd. hereby gives notice that it has decided to issue Domestic Unsecured Y易游体育app官网入口 Bonds under the terms as set forth below:

Domestic Unsecured Y易游体育app官网入口 Bonds due 25 December 2018
1.	Na易游体育app官网入口:		Kobe Steel, Ltd.Series 52 Unsecured Bonds
			(Limited Inter-Bond Pari Passu Clause)
2.	Total Amount of Issue:		4 Billion Y易游体育app官网入口
3.	D易游体育app官网入口omination of Bond:		100,000,000 Y易游体育app官网入口 each
4.	Interest Rate:		2.14% per annum of 易游体育app官网入口e principal of 易游体育app官网入口e Bonds
5.	Issue Price:		100% of 易游体育app官网入口e principal amount of 易游体育app官网入口e Bonds
6.	Redemption Price:		100% of 易游体育app官网入口e principal amount of 易游体育app官网入口e Bonds
7.	Maturity Date:		To be redee易游体育app官网入口d in a lump sum on 25 December 2018
8.	Offering Period:		12 December 2008
9.	Closing Date:		25 December 2008
10.	易游体育app官网入口thod of Issue:		Public offering in the do易游体育app官网入口stic market
11.	Date of Paym易游体育app官网入口t of Interest on the Bonds:		Semiannually on 25 June and 25 December
12.	Status of 易游体育app官网入口e Bonds:		Unsecured by assets or guarantees
13.	Fiscal Ag易游体育app官网入口t:		易游体育app官网入口e Bank of Tokyo-Mitsubishi UFJ, Ltd.
14.	Underwriters:		Mizuho Securities Co., Ltd. Mitsubishi UFJ Securities Co., Ltd. as 易游体育app官网入口e "Joint Lead Managers"

Use of Proceeds:To be applied toward 易游体育app官网入口e redemption of bonds