Motoatsu Sakurai Appointed President & CEO of Mitsubishi International Corporation

NEW YORK, April 1 -- Mitsubishi International Corporation (MIC) announced that Motoatsu Sakurai has been appointed as its President and CEO, effective today. Since 2000, Sakurai has served as Executive Vice President (EVP) & Chief Operating Officer (COO).

"As CEO, I look forward to the challenge of building a stronger link between Japan and the U.S. To do so, I intend to focus on expanding MIC's role in the U.S. economy by increasing our domestic market trading activities and investing in U.S. businesses that have beneficial strategic tie-ins to our trading operations," said Sakurai.

"Additionally, I believe my 20 years of work in the U.S. with MIC, as well as with the World Bank and the International Finance Corporation, and my studies in France at INSEAD, will complement my Japanese experience and will help bring a global perspective to our business in the U.S.," he continued.

At MIC, Sakurai has been responsible for investment and new business development in the most dynamic sectors of the U.S. and Canadian economies. While leading that division, he was instrumental in establishing Red Diamond Capital, a $150 million corporate buyout fund that participates in management buyouts of medium-sized U.S. and Canadian companies in the manufacturing, distribution and service sectors.

MIC's core competencies include global trade in goods and services as diverse as commodity and specialty chemicals, machinery, food products, metals and high-technology equipment. "Our unique access to suppliers and customers in virtually every market around the world, and proven skills in managing complicated transactions and supply chains, allow us to add significant value for our customers. My primary goal is to nurture and enhance these strengths in the years ahead," concluded Sakurai.

About Motoatsu Sakurai

Motoatsu Sakurai began his career at parent company, Mitsubishi Corporation, in 1968, where he focused mainly on corporate planning and development. Since that time, Sakurai has served with both MIC and parent company Mitsubishi Corporation (MC). In 1998, he was appointed Director of MC, and subsequently in 2001, Sakurai was appointed to the position of Executive Vice President of MC, while continuing his role as EVP and COO of MIC.

In 1978, he spent four years with the World Bank and its affiliate, the International Finance Corporation, in Washington, D.C., working with Francophone countries in Africa.

Motoatsu Sakurai is a graduate of Tokyo University's Faculty of Law, and obtained an MBA from INSEAD in Fontainebleau, France, in 1976.

About Mitsubishi International Corporation

Mitsubishi International Corporation (MIC), a wholly owned subsidiary of the Mitsubishi Corporation, is a multi-industry trading and investment company with $6.7 billion in annual revenue and 12 locations across the United States. Leveraging a worldwide network of international trading partners, the trading company conducts transactions in a comprehensive range of businesses, including chemicals, information technology, energy, metals, machinery and living essentials. MIC adds value through the ability to finance and invest in the development of companies and projects, as well as through expertise in providing the marketing, sourcing and logistics services needed for businesses to succeed. Headquartered in New York, the company may be found on the web at micusa.com.

MIC's Tokyo-based parent company, Mitsubishi Corporation, is one of the world's largest and most diverse enterprises. The Company's close to 7,000 employees, coupled with its approximately 44,000 operating subsidiary employees, serve clients through a global network of almost 40 offices in Japan and nearly 200 overseas offices.

Information in press releases, including without limitation content of services, and contact information, is current on the date of the press announcement, but is subject to change without notice.

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