News Release：Mr. Kaneo Ito, President of Pioneer Corporation, is honored with the distinction of Commandeur de l'Ordre de la Couronne in Belgium

May 20^th, 2002, Tokyo, Japan - President Kaneo Ito of Pioneer Corporation was honored with the distinction of Commandeur de l'Ordre de la Couronne (Commander of the Order of the Crown) on May 19 in Bruges, Belgium. The Commandeur Distinction, one of Belgium's highest honors, is presented by Belgium's Royal Family to persons in the private sector for distinguished achievements in public service and cultural life. Ito was honored for his many years of important contributions to the international cultural exchanges and industrial relations between Belgium and Japan and has received the award from the Governor of West Flanders, Mr. Paul Breyne on Sunday, May 19 in the magnificent Gothic municipal hall of Bruges following a visit to Bruges 2002 ^*1

*1) European Capitals of Culture and Bruges 2002

Bruges, along with Salamanca in Spain, was selected by the EU as a "European Capital of Culture" for the year 2002. From February 20th until November 17th, Bruges 2002 will propose more than 160 projects and events including music, exhibitions, art, city walks, theatre, cinema, social projects and entertainment. The "European Capital of Culture" program has been in existence since 1985. It was established out of a realization that cultural understanding and a mutual identity among the countries of Europe was necessary if true European unity was to be achieved. Each year, the Ministers of Culture from the member EU countries convene to select cities to be "Cultural Capitals" for a year. During that year, the cities hold a variety of events related to culture and the arts as a way to enhance mutual appreciation among EU members. With the unification of the European market in 1993, not only EU countries but other countries from around the world were encouraged to participate in the "European Capitals of Culture" program.