January 11, 2007

Metal One (Beijing) Commerce Co., Ltd.
- Domestic Sales, Import and Export Capabilities to Expand Value Chain -

Metal One Corporation (headquartered in Minato-ku, Tokyo; President: Moriji Kanada) received authorization to establish Metal One (Beijing) Commerce Co., Ltd. in Beijing, China in October 2006 and launched business operations there on January 1, 2007. The new company is a fully owned Metal One subsidiary and is capitalized at US$2.5 million.

Located in the strategically important region of northern China, the new subsidiary will demonstrate its domestic sales and import/export capabilities as a key player of Metal One's Value Chain Strategies in the region, while striving to expand into new operations and building a new business model as part of its efforts for further business development.

Metal One has offices in Beijing, Qingdao, Shanghai, Guangzhou, Hong Kong and Xiamen. Metal One (Beijing) Commerce will be the company's second subsidiary authorized to conduct commercial activities in China, following Metal One (Guang Zhou), established in September 2006. This development will allow us to cover both southern and northern China.