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News Release

january 25, 2007 Fuji Electric Holdings Co., Ltd. Fuji Electric Systems Co., Ltd.

Comments on European Commission's Decision
regarding Gas Insulated Switchgear Cartel

On January 24, 2007, Fuji Electric Holdings Co., Ltd. and Fuji Electric Systems Co., Ltd. (collectively hereinafter referred to as "Fuji") received from the European Commission a decision imposing on Fuji a fine of 2.4 million euros (approx. 380 million yen) for its anti-competitive activities concerted with European and Japanese manufacturers relating to gas insulation switchgear during the period of April 1988 to May 2004. The decision also imposes on Fuji a fine of 1.35 million euros (approx. 210 million yen) jointly and severally with Japan AE Power Systems Corporation (Fuji's equity method company) and Hitachi, Ltd.

Fuji judges at this point that the impact the decision will make on its consolidated profitability will be minor while it will peruse the details of the decision and take honest action.

Fuji takes the fact that it has received the decision with seriousness, and will implement appropriate thorough recurrence prevention measures based on the details of the decision and the results of its internal investigations. Through these activities, Fuji is determined to honor its social responsibilities.


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