Metal One Corporation

December 19, 2005

Announcement on Board of Directors, Structural Changes and General Personnel

Metal One Corporation (headquartered in Minato-ku, Tokyo; President: Moriji Kanada) hereby announces its new board of directors, structural changes and general personnel, to come into effect from January 1, 2006:

[1] Company Executives (Effective from January 1, 2006)

A. Directors

Position	Name
President, Director	Moriji Kanada
Senior Executive Vice President, Director	Susumu Komori
Director	Mutsumi Kotsuka (Executive Vice President, Group CEO, Metals Group, Mitsubishi Corporation)
Director	Ichiro Mizuno (Executive Vice President, Chief Financial Officer, Mitsubishi Corporation)
Director	Hiroyuki Tanabe (President, Energy & Mineral Resources Division, Managing Executive Officer, Sojitz Corporation)

B. Corporate Auditors

Position	Name
Corporate Auditor	Koichiro Kimura
Corporate Auditor	Kazuyoshi Yatabe (Group Controller, Metals Group, Mitsubishi Corporation)
Corporate Auditor	Yoji Sato (Director, Managing Executive Officer, CFO, Sojitz Corporation)

C. Executive Officers(:Representative Directors)

	Position	Name
	President, Director	Moriji Kanada
	Senior Executive Vice President, Director	Susumu Komori
	Senior Managing Executive Officer	Minetsugu Takeda
	Managing Executive Officer	Tetsuro Nagai
	Executive Officer	Masaki Ono
	Executive Officer	Kyohei Aramaki
	Executive Officer	Yoshiharu Harima
	Executive Officer	Motoo Hamada
	Executive Officer	Saburo Takada
	Executive Officer	Shinichi Tateno
	Executive Officer	Shiro Ueno
	Executive Officer	Terumitsu Kiba*
	Executive Officer	Yoshiomi Yuasa**

*	Newly assigned.
**	Director who will retire from Metal One Corporation following the ordinary meeting of shareholders scheduled for March 2006. To become effective on the same day.

[2] Executive Officers (Effective from January 1, 2006)

A. New Director

Name	New position	Present position
Terumitsu Kiba	Executive Officer	Division COO, International Steel Operation Division

B. Retiring Director (To become effective on the same day of the ordinary meeting of shareholders scheduled for March 2006.)

Name	New position	Present position
Yoshiomi Yuasa	Executive Officer	Senior Managing Executive Officer

[3] Areas of Responsibility (Effective from January 1, 2006)

Position	Name	Areas of Responsibility
President, Director	Moriji Kanada	Also serve as Chief Compliance Officer
Senior Executive Vice President, Director	Susumu Komori	Senior Assistant to the President, Human Resources, Domestic & Overseas, Value-Chain Creation, Group COO, International Steel Operation, Wire & Specialty Steel
Senior Managing Executive Officer	Minetsugu Takeda	Group COO, Steel Plate, Construction Materials, Tube, Steel Sheet Products, Automotive Steel Products, Stainless Steel, Energy Project International Business
Managing Executive Officer	Tetsuro Nagai	CFO & Corporate Functional Officer (Corporate Administration)
Executive Officer	Masaki Ono	CIO & Corporate Functional Officer (Corporate Social Responsibility, General Affairs)
Executive Officer	Kyohei Aramaki	Division COO, Steel Sheet Products, Automotive Steel Products Business Division
Executive Officer	Yoshiharu Harima	Division COO, Wire & Specialty Steel Division
Executive Officer	Motoo Hamada	Corporate Functional Officer (Human Resources, CISO)
Executive Officer	Saburo Takada	Division COO, Stainless Steel Division
Executive Officer	Shinichi Tateno	Division COO, Steel Plate, Tube, Construction Materials Division
Executive Officer	Shiro Ueno	Corporate Functional Officer (Corporate Planning, Value-Chain Creation, Regional Strategy & Coordination)
Executive Officer	Terumitsu Kiba	Division COO, International Steel Operation Division
Executive Officer	Yoshiomi Yuasa	(In charge of special orders)

[1] Corporate Administration Division with Six Departments to Be Established (Effective from February 1, 2006)

Corporate Administration Division	Accounting Department
	Finance Department
	Legal Department
	Credit Department
	Business Investment Administration Department
	Osaka Administration Department

[2] Corporate Planning & Strategy Department to Be Reorganized into Three Departments (Effective from February 1, 2006)

Corporate Planning Department

Value-Chain Creation Department

Regional Strategy & Coordination Department

[1] General Managers (Effective from January 1, 2006)

Name	New position	Present position
Hiromi Fujikawa	Assistant to Senior Managing Executive Officer, Special Assignment Officer (The Natural Resources & Energy Industry)	General Manager, Energy Project International Business Department
Kanji Nishiura	General Manager, Energy Project International Business Department, Planning Coordination Office, International Tubular Products Business Office	General Manager, Planning Coordination Office in Energy Project International Business Department, International Tubular Products Business Office
Takehiro Honda	General Manager, Human Resources Department	General Manager, HR Organization Unit, Human Resources Department

[2] General Managers (Effective from February 1, 2006)

Name	New position	Present position
Masashi Konno	General Manager, Regional Strategy & Coordination Department	General Manager, Strategic Planning Office, Corporate Planning & Strategy Department
Masakazu Okamura	General Manager, Value-Chain Creation Department	General Manager, Regional Strategy Office, Corporate Planning & Strategy Department, China Unit
Masahito Goto	General Manager, Accounting Department	Manager, Corporate Accounting Unit, Corporate Administration Division
Shigeo Yanagimoto	General Manager, Finance Department	Manager, Finance Unit, Corporate Administration Division
Masatoshi Hirota	General Manager, Legal Department	Manager, Legal Unit, Corporate Administration Division
Yoichi Shinya	General Manager, Credit Department	Manager, Credit Unit, Corporate Administration Division
Tatsuyuki Abe	General Manager, Business Investment Administration Department	Manager, Business Investment Support Office, Consolidated Accounting Administration Unit
Toshifumi Koga	General Manager, Osaka Administration Department	Manager, Osaka Accounting Unit, Osaka Credit Unit, Corporate Administration Division

[3] General Manager (Effective from April 1, 2006)

Name	New position	Present position
Kioi Yamada	General Manager, Corporate Planning Department	President, MC Metal Service Asia (Thailand) Co., Ltd.

Note: Executive Officer Shiro Ueno will serve as General Manager, Corporate Planning Department till the end of March 2006.