Tokyo, January 30, 2002--Fujitsu Media Devices Limited (FMD) and Toshiba Corporation today announced that they have reached a general agreement for FMD to acquire Toshiba's Surface Acoustic Wave (SAW) filter business. Under the terms of the agreement, FMD will acquire the marketing rights to Toshiba's SAW filter products along with the associated development and manufacturing facilities of this business. Details of the agreement are being finalized, and the companies are working toward an implementation date of April 1, 2002.

FMD was established in October 1998 as a wholly owned subsidiary of Fujitsu Limited to handle the development, manufacturing, and sales of electronic components for mobile equipment. The company has an especially strong position in the market for SAW filters used in mobile phones, ranking number two worldwide. With a rapid transition to 2.5G and 3G cellular technology foreseen over the next one or two years, players in the SAW filter sector must be able to develop more powerful and compact products that keep pace with the technological requirements and development speed demanded by this dynamic market. Through this acquisition, FMD enhances its ability to quickly develop new technologies, enabling it to maintain and improve its market position in SAW filters.

By making effective use of Toshiba's excellent technical competence and development resources, FMD will be able to respond more effectively to customer needs and accelerate the transformation of its own way of doing business to keep pace with an evolving environment. Furthermore, the acquisition provides FMD with a cost-effective entrée into the video and automotive electronics markets for SAW filters, areas in which Toshiba has been particularly strong. The acquisition, therefore, not only will enhance and expand FMD's SAW filter business, it also promises to lower costs through greater efficiencies of scale.

This move is also part of Fujitsu's broader plan to invigorate the Fujitsu Group. By bolstering FMD's strength as an independently operated company and helping its future growth prospects, it strengthens the overall growth prospects of the Fujitsu Group.

Fujitsu Media Devices Limited at a Glance

About Fujitsu Media Devices Limited

Fujitsu Media Devices Limited excels at applying unique design and process technologies based on superior materials to provide industry-leading performance and development/sales of compact SAW filters. It has established a leading industry position founded on strong intellectual-property assets. FMD's special strengths also include developing and selling a product line with the world's most advanced technology for broadband and wireless communications, including early Bluetooth certification, and its extensive line of capacitors for use in consumer and industrial applications.

About Fujitsu

Fujitsu is a leading provider of Internet-focused information technology solutions for the global marketplace. Its pace-setting technologies, best-in-class computing and telecommunications platforms, and worldwide corps of systems and services experts make it uniquely positioned to unleash the infinite possibilities of the Internet to help its customers succeed. Headquartered in Tokyo, Fujitsu Limited (TSE:6702) reported consolidated revenues of 5.48 trillion yen for the fiscal year ended March 31, 2001.
For more information, see: http://www.fujitsu.com/

About Toshiba

Toshiba Corporation is a leader in information and communications systems, electronic components, consumer products, and power systems. The company's integration of these wide-ranging capabilities assures its position as a leading company in semiconductors, LCDs and other electronic devices. Toshiba has 188,000 employees worldwide and annual sales of over US$47 billion. Visit Toshiba's website at http://www.toshiba.co.jp