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Kobe Steel announces loss on write-down of investment in securities for third quarter fiscal 2008

January 9, 2009

Kobe Steel announces loss on write-down of investment in securities for third quarter fiscal 2008 Kobe Steel, Ltd. announces that it intends to post a loss on some of its securities classified as "securities of affiliate companies" and "other securities" that have decreased significantly in value. As the value of these securities did not recover as expected, Kobe Steel will post a loss on write-down of investment in securities for the third quarter of fiscal 2008, ended December 31, 2008.

1. Total amount of loss on write-down of investment in securities in first nine months of fiscal 2008

On a consolidated basis, Kobe Steel anticipates posting an extraordinary loss on the write-down of investment in securities amounting to 15,795 million yen for the first nine months of fiscal 2008 (April 1 - December 31, 2008). Extraordinary loss on the write-down of investment in securities for the third quarter of fiscal 2008 (October 1 - December 31, 2008) alone is anticipated to be 12,325 million yen.
On a nonconsolidated basis, extraordinary loss on the write-down of investment in securities and securities of affiliate companies is expected to be 15,797 million yen for the first nine months of fiscal 2008 (April 1 - December 31, 2008). Extraordinary loss on the write-down of investment in securities and securities of affiliate companies for the third quarter of fiscal 2008 (October 1 - December 31, 2008) is anticipated to be 12,069 million yen.

2. Outlook

As for the outlook on the operating results for fiscal 2008, ending March 2009, Kobe Steel will make an announcement when figures have been determined.