Toshiba Signs General Framework Agreement with Atomenergoprom to Explore Collaboration in Civilian Nuclear Power

Business Wire, March 20, 2008

TOKYO -- Toshiba Corporation today announced that it has signed a general framework agreement with Atomenergoprom (Joint Stock Company "Atomic Energy Power Corporation"), the Russia's state-owned nuclear energy company, to explore collaboration in the civilian nuclear power business field. The discussion under the agreement will take place within the framework for the peaceful use of nuclear energy currently being envisaged by the Japanese and Russian governments.

Based on the agreement, the parties will start feasibility studies to consider cooperation which includes designing and engineering to construct commercial nuclear power plants, manufacturing and maintenance of large equipment, and front-end civilian nuclear fuel cycle business. Complementary relations between the two companies could lead to the establishment of a strategic partnership. The agreement could also contribute to stable and secure supply of services in front-end civilian nuclear fuel cycle in Japan, the United States and elsewhere.

In signing this agreement, the parties proceed from the fact that an important global task is the development and implementation of safe, clean and efficient production systems for nuclear power. Mutually complementary cooperation between Toshiba and Atomenergoprom will have a positive synergetic effect on making the global nuclear renaissance more foreseeable, assured and feasible.

The cooperation between the two companies will be strictly limited to the peaceful use of nuclear power and will be undertaken within the current and future framework of cooperation between the two countries' governments, as well as the international framework for peaceful use of nuclear power. If any technology exchange should occur in the future, it will be only conducted in accordance with the international agreement and national legislation of relevant countries. This agreement is fully consistent with the goals and objectives of the Global Nuclear Energy Partnership (GNEP). Russia, Japan and the United States have all affirmed their support for GNEP.

Outline of Atomenergoprom (Joint Stock Company "Atomic Energy Power Corporation")

Atomenergoprom unites all the Russian enterprises working on peaceful use of atomic energy. It is 100% state-owned.

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