Signing of Letter of Intent for integration of stainless business of Nippon Steel Corporation and Su

Nippon Steel Corporation (place of business: Chiyoda-ku， Tokyo； President: Akira Chihaya) and Sumitomo Metal Industries， Ltd. (place of business: Chuo-ku， Osaka City； President: Hiroshi Shimozuma) have signed today a letter of intent to integrate their stainless business.

The proposed integration will aim to structurally improve the stainless business (including stainless flat steel， plate， bar and wire rod， but excluding the business conducted by Sumitomo Metals (Naoetsu)， Ltd. and Sumitomo Metals (Kokura)， Ltd.). Both companies intend to sign， towards the end of this September， a definitive contract for the integration (business integration is scheduled for April 2003 or earlier)， subject to the final agreement on the implementation following negotiations along the letter of intent， of the detailed conditions on the integration.

For more information

Nippon Steel Corporation
Public Relations Center
Tel +81-3-3275-5021

Sumitomo Metal Industries， Ltd.
Public Relations Group
Tel +81-3-4416-6115