TOKYO--Toshiba is pleased to confirm that it has been selected as the preferred bidder in BNFL's sale of Westinghouse.

This is an exciting opportunity for Toshiba that will enable the Company to take advantage of a number of strategic opportunities in a sector which we believe has tremendous growth potential. We are confident that this transaction is a win-win situation for Toshiba and Westinghouse, through which both companies will enjoy enhanced growth opportunities in the nuclear industry. Together with Westinghouse's dedicated workforce, we intend to grow the business, to retain Westinghouse's U.S. identity with Pittsburgh at the center of Westinghouse's U.S. and European activities, and to make continued investments for further growth.

We believe strongly in the future of this industry and look forward to reaching a definitive agreement as soon as possible.