Mitsubishi Corporation to Raise Stake in American Grain Company

JCN Newswires,  June 19, 2007  

Tags: Mitsubishi Corp.

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Tokyo, Japan, June 18, 2007 - (JCN Newswire) - Mitsubishi Corporation ('MC'; TSE: 8058) has decided to acquire an additional 45% stake in Ohio-based FGDI, LLC, through MC's wholly owned grain company, Kansas City-based Agrex Inc. Through this acquisition, Agrex will raise its stake in FGDI from 30% to 75%.

1. Summary of the Acquisition

FCStone Group, Inc., an Iowa-based commodity futures risk management company, currently owns a 70% stake in FGDI, while Agrex has a 30% stake. Both companies have agreed that Agrex will acquire an additional 45% stake in FGDI from the FCStone Group (which will retain a 25% stake in FGDI).

2. Reason for the Acquisition

FGDI is a grain company with a solid procurement network that reaches across the United States, which is the world's largest grain producing and exporting country. FGDI is also the exclusive operator of a grain export facility in Mobile, Alabama, in the heart of the U.S. Gulf Coast, which is the largest grain exporting area in country.

Through Agrex, MC jointly owns a modern grain export facility in Washington State in the Pacific Northwest together with major U.S. grain companies. With this acquisition, MC will be able to fully utilize these two grain export facilities located along two key U.S. coasts (the Pacific Northwest and the U.S. Gulf Coast). MC expects to further develop the grain procurement business in the U.S. as well as the grain export business through its sales network covering Japan and other countries in

Asia.

3. Overview of FGDI

1) Company name: FGDI, LLC

2) Headquarters: Bowling Green, Ohio, U.S.A.

3) Established: 1991

4) Paid in capital: USD$7 million

5) Current sales amount: USD$1.078 billion

6) Number of employees: 82

4. Overview of Agrex Inc.

1) Established: 1986

2) Shareholders: Mitsubishi Corporation 90%

Mitsubishi International Corporation 10%

3) Paid in capital: USD$8 million

4) Current sales amount: USD$1.63 billion

5) Number of employees: 85

About Mitsubishi Corporation

Mitsubishi Corporation is Japan's largest general trading company (sogo shosha) with over 200 bases of operations in approximately 80 countries worldwide. Together with its over 500 group companies, MC employs a multinational workforce of approximately 54,000 people. MC has long been engaged in business with customers around the world in virtually every industry, including metals & mining, energy, machinery, chemicals, food and general merchandise. For more information, please visit http://www.mitsubishicorp.com/en/index.html.

Source: Mitsubishi Corporation

Contact:

Sadanobu Takemasu
Mitsubishi Corporation
Public Relations Office
Tel.: +81-3-3210-2104
Fax.: +81-3-3210-2104

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