FOR IMMEDIATE RELEASE

Fujitsu To Build Second Computer Products Factory in the Philippines

- New facility will manufacture media for hard disk in the Country -

January 7th, 1998; Carmelray, the Philippines- Fujitsu Computer Products Corporation of the Philippines (FCPP) in Carmelray Industrial Park, Canlubang, Laguna, today announced that Fujitsu Limited, an international leader in information technology will soon start manufacturing media for computer hard disk drives in the Philippines. This was confirmed by Mr. Isao Sanaka, Group President for the Storage Products Group of Fujitsu Limited during a meeting with Director General Lilia B. De Lima.

According to Mr. Sanaka, the hard disk drive market is growing at a rate of 20% annually with the continuous improvement in Hard Disk Drive technology brought about by the introduction of Magneto-Resistive (MR) heads. The rapid growth in the demand for hard disk drives is expected to generate a proportional increase in the demand for media. The possibility of encountering a shortage in the supply of media led Fujitsu to decide on manufacturing media for its own requirements.

The fast growing production volume of hard disk drives in Fujitsu's first factory in Canlubang makes it logical to locate the media factory in the Philippines. To implement the project, Fujitsu acquired a 20 hectares lot in the First Philippine Industrial Park Ecozone in Tanauan, Batangas. The project will require an investment of US$200 million for the first three years and will need approximately 500 employees as a 1st step.

PEZA Director General Lilia B. De Lima welcomed the new project saying that the new project is a very good "buena mano" or start for the new year. DG De Lima committed PEZA's full support to the project reiterating the Government's continuing thrust of encouraging foreign investments and commitment to maintaining a favorable business environment in the country.

Construction of the new plant is expected to start in May 1998 while commercial operation is scheduled to start in August 1999.

The new plant will provide critical support to Fujitsu's Canlubang factory, which is fast becoming a strategic hard disk drive production facility of Fujitsu in its goal of achieving global leadership. Fujitsu currently produces hard disk drives and magneto-resistive (MR) heads in its Canlubang plant.

Fujitsu Computer Products Corporation of the Philippines

Company Name:	Fujitsu Computer Products Corporation of the Philippines
Representative:	Masaaki Nagamine, President
Capitalization:	991.5 million Peso (100% held by Fujitsu Limited)
Establishment:	February 1995
Location:	Special Export Processing Zone, Carmelray Industrial Park Canlubang Calamba, Laguna (40km south of Manilla)

Fujitsu Limited

Founded in 1935, Fujitsu Limited is an international leader in information technology, telecommunications, semiconductors and other electronics devices. The Fujitsu Group of over 400 technology, software and service companies posted global revenues of more than $36 billion in the fiscal year ended March 31, 1997.
URL: http://www.fujitsu.com/

For more information:

Press Contact: Makoto Saito, Scott Ikeda Fujitsu Limited, Public Relations Tel : +81-3-3215-5236 (Tokyo) Fax : +81-3-3216-9365

In the Philippines, Please Contact: Fujitsu Computer Products Corporation of the Philippines P.O.BOX 4037, Makati Central Post Office Makati City, Metro Manila, Philippines Tel.No.+632-843-2002 Fax.No.+632-843-1883