News Release：Mitsubishi Electric Joins Blu-ray Disc Founders

TOKYO, May 28, 2003 - Mitsubishi Electric Corporation (Tamotsu Nomakuchi, President & CEO) and the existing nine Blu-ray Disc Founders (BDF)* today announced that Mitsubishi Electric has become a new member company of BDF.

Mitsubishi Electric has taken a leading role in the development of optical disc technology in the relevant industries over the years, and has been promoting related technologies including DVD. Mitsubishi Electric has been focusing on blue laser technology as an important element in establishing the next generation high density and high-grade optical disc recording technology. Mitsubishi Electric has studied the BDF's Blu-ray Disc format as one of the most promising candidates in this area, and has contributed to the format's development through technical proposals to the BDF. Mitsubishi Electric has decided to participate in the BDF after observing commonalities in the future direction of Blu-ray Disc technology and its own in-house development.

The BDF commenced licensing of the Blu-ray Disc Rewritable format in February 2003, and is currently developing Blu-ray Disc "Write-once" and "Read-only" formats. At the request of Mitsubishi Electric, the BDF evaluated the potential of Mitsubishi Electric to make substantial technical contributions to these developing formats, and decided to welcome Mitsubishi Electric as a BDF member company. The BD Founders strongly believe that the addition of Mitsubishi Electric to the BDF will further enrich the group's activities.

With Mitsubishi Electric on board, a total of ten BDF members will devote themselves to further technological development at the highest level in the industry, while promoting the Blu-ray Disc formats to benefit related industries worldwide.