| Notice on Transfer of Group Companies' Interests|
14 September, 2006
Toshiba Corporation (hereafter Toshiba) has agreed with General Electric
Company (hereafter GE) to transfer Toshiba's interests in GE Toshiba
Silicones Co., Ltd. and its six related companies as follows.
1. Outline of Transfer of Interests
||Companies involved in the transfer:
||GE Toshiba Silicones Co., Ltd.
||GETOS Singapore Pte. Ltd.
||GE Toshiba Silicones Asia Pacific Pte. Ltd.
||GE Toshiba Silicones (Nantong) Co., Ltd.
||GE Toshiba Silicones Hong Kong Co., Ltd.
||GE Toshiba Silicones Shanghai Co., Ltd.
||GE Toshiba Silicones Thailand Ltd.
Toshiba will transfer its interests to GESM Canada Japan Holdings
NK, GE Pacific Pte. Ltd., or other GE Group companies. The acquiror(s)
then intend to transfer the interests to Apollo Management LP, a private
||Price for Sale and Profit (consolidated-basis forecast)
Price for sale: Approximately 57.0 billion yen
Profit (pre-tax basis): Approximately 38.0 billion yen
The transfer is expected to be completed within 2006, subject to consent
by the concerned financial institutions and closing of the transaction
between GE and Apollo Management LP.
2. Reason for the transfer
Toshiba entered the silicone business in 1953, and since 1971 has operated
it in a joint venture with GE. However, the silicone business now has
increasingly less relevance to Toshiba's other businesses, and Toshiba
decided to accept a proposal from GE to sell their entire silicone business
to Apollo Management LP. As part of such sale, Toshiba decided to transfer
its entire ownership interests in companies engaged in silicone business.
3. Impact on Business Forecast
Toshiba does not amend its consolidated and non-consolidated business
forecasts for the fiscal year to March 2007 at this moment. Toshiba will
continue to review its business forecasts, and if it becomes necessary
to revise the forecasts in the future, Toshiba will promptly disclose
the content of the revision.