Land Acquisition in Tado No. 2 Industrial Area

NTN has decided to purchase land for a plant in the Tado No. 2 Industrial Area in Tado-cho, Kuwana-gun, Mie Prefecture, and has signed a basic agreement with the town of Tado and the Tado-cho Land Development Corporation.

In order to achieve a “high profitability independent of scale,” NTN is promoting its “NEW Plan21,” a business structural reform plan consisting of four main pillars: 1) the strengthening of business development; 2) the strengthening of profit structure in order to increase cost competitiveness; 3) reorganization of production in order to strengthen company competitiveness; and 4) the strengthening of product and equipment development in order to increase sales.

NTN plans to build a state-of-the-art plant on the Tado site as part of its production reorganization for staving off international competition and strengthening corporate competitiveness.

1. “Basic Plant Site Agreement” signing ceremony

Time and Date: 10-11:00 a.m., July 18, 2003

Place: Meeting Room 305, Tado-cho Town Hall (Address: 1-1-1 Tado, Tado-cho, Kuwana-gun, Mie Prefecture)

2. Plant Site

1) Seller: Tado-cho Land Development Corporation

2) Buyer: NTN Corporation

3) Location: Tado No. 2 Industrial Area (Shimonoshiro and Mizono in Tado-cho, Kuwana-gun, Mie Prefecture)

4) Area: Approximately 85,000 square meters (about 26,000 tsubo)

3. New Plant Details

1) Products: bearings, constant velocity joints, etc.

2) Production output: 15 billion yen (target)

3) Total investment: 9 billion yen (anticipated)

4) Operation start-up date: June 2004 (target)

5) Employees: 300 (anticipated)

NTN Details

Name: NTN Corporation

Headquarters: 1-3-17 Kyomachibori, Nishi-ku, Osaka

President and Representative Director: Yasunobu Suzuki

Capital: 39.6 billion yen

Sales (for the period ending March 2003): Consolidated - 342.7 billion yen; Non-consolidated - 246.3 billion yen

Employees (for the period ending March 2003): Consolidated - 11,810; Non-consolidated - 6,429

Area of business: Manufacture and sale of bearings, constant velocity joints, precision equipment, etc.