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President appointed to Toshiba Carrier Corporation

22 February, 1999

the major new presence in the global air-conditioning industry

Tokyo---Toshiba Corporation today announced the appointment of Hiroshi Ikeda as president of Toshiba Carrier Corporation, a joint-venture company that will conduct the air-conditioner business in markets worldwide, starting April 1, 1999. Mr. Ikeda, Toshiba Corporation's former corporate representative for Asia, is currently senior support staff to Mr. Makoto Nakagawa, vice president responsible for Toshiba's home appliances business.

Toshiba Carrier Corporation is a joint venture between Toshiba Corporation, the diversified manufacturer of electronic and electric products and systems, and Carrier Corporation, the world's largest manufacturer of air-conditioning equipment and systems. Toshiba Carrier Corporation aims to secure a leading presence in the global air-conditioner market by combining the partners' technological strengths and distribution channels and through joint procurement of components and materials.

Toshiba Carrier will manufacture and sell a wide range of air conditioners, extending from small units through to large systems, as well as refrigeration equipment, ventilator fans, air purifiers and compressors. Toshiba Carrier will maintain its technological leadership by conducting R&D of key technologies and components, such as inverters and HFCs.

Profile of Toshiba Carrier Corporation
EstablishedApril 1, 1999
HeadquartersToshiba Building, 1-1-1 Shibaura, Minato-Ku, Tokyo 105-8001
Factories336 Tadehara, Fuji-shi, Shizuoka (current Toshiba Fuji Works)
70 Yanagi-cho, Saiwai-Ku, Kawasaki (within Toshiba Yanagi-cho Works)
Capital¥11.51 billion
StockholdersToshiba Corporation 60%, Carrier Corporation 40%

Profile of Hiroshi Ikeda, President of Toshiba Carrier Corporation
1964Joined Toshiba Corporation
1980General Manager of Toshiba Singapore Pte., Ltd.
1986Vice President of Toshiba America Consumer Products, Inc.
1990General Manager of Toshiba Fukaya Works
1993General Manager of Toshiba Video Equipment Division
1996Chairman of Toshiba Video Products Pte., Ltd.
President of Toshiba Video Products Japan Co., Ltd.
1997Corporate Representative - Asia
1998Assistant to Makoto Nakagawa, Vice President responsible for home appliances

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

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