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Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell | AMEX:MBC | AMEX | Ordinary Share |
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RNS Number:5524I Mitsubishi Corporation 11 March 2003 Translation of report filed with the Tokyo Stock Exchange on March 11, 2003 March 11, 2003 Notice Regarding Sale of Company-Owned Facilities Mitsubishi Corporation today announced plans to sell the following real estate holdings. 1. Reason for the Sale Mitsubishi Corporation plans to sell 13 employee housing and vacation facilities in Japan. By streamlining the balance sheet, these sales will help improve the efficiency of business activities and increase the companyfs liquidity. It will be accomplished either through direct sales or the sale of beneficial interest certificates in trusts established to manage and dispose of these properties. 2. Details of Assets to Be Sold (million yen) No. Description of Asset and Location Book Value Selling Present Status Price 1 4,763 4,775 Presently used for company housing Address: 203-1 Imai Nishimachi, Nakahara-ku, Kawasaki-shi, Kanagawa Prefecture Land area: 10,583.47 m2 (Public register) Floor space: 21,436.73 m2 (Public register) 2 682 252 Presently used for company housing Address: 5-311-2 Kitakoiwa, Edogawa-ku, Tokyo Land area: 525.61 m2 (Public register) Floor space: 1,053.30 m2 (Public register) 3 1,067 319 Presently used for company housing Address: 2-26-2,3 Chuo, Warabi-shi, Saitama Prefecture Land area: 760.28 m2 (Public register) Floor space: 1,509.56 m2 (Public register) 4 2,476 1,454 Presently used for company housing Address: 28-1 Kamiyoshihara-cho, Nishinomiya-shi, Hyogo Prefecture Land area: 6,041.63 m2 (Public register) Floor space: 9,180.72 m2 (Public register) 5 2,502 923 Presently used for company housing Address: 1-18-4 Shin-ike-cho, Chikusa-ku, Nagoya-shi Land area: 5,846.59 m2 (Public register) Floor space: 4,536.55 m2 (Public register) 6 14 65 Previously used for company housing, but now Address: 2-537-1,2 Kitaando, Shizuoka-shi idle Land area: 412.16 m2 (Public register) Floor space: 226.06 m2 (Public register) 7 10 10 Presently used for company housing Address: 1-4-5 Kumoji, Naha-shi, Okinawa Prefecture Land area: 2,975.63 m2 (Public register) Share of land owned: 18,419/2, 975, 630 Floor space: 81.32 m2 (Public register) 8 158 242 Used to house Address: 1-222-1 Nigawa Takadai, employees living Takarazuka-shi, Hyogo Prefecture away from home Land area: 2,989.30 m2 (Public register) Floor space: 1,619.57 m2 (Public register) 9 1,074 462 Used as a dormitory for single employees Address: 3-70-41 Yamada-nishi, Suita-shi, Osaka Prefecture Land area: 3,444 m2 (Public register) Floor space: 3,632.46 m2 (Public register) 10 32 24 Used to house Address: 2-106-1 Ushidawaseda, Higashiku, employees living Hiroshima-shi away from home Land area: 1,499.07 m2 (Contract) Floor space: 679.38 m2 (Public register) 11 192 609 Used as a vacation facility Address: 1052-71, 189, 320, 369 Aza Nagakura Oukan Minamihara, Oaza Karuizawa, Karuizawa-machi, Nagano Prefecture Land area: 9,823.39 m2 (Public register) Floor space: 1,948.05 m2 (Public register) 12 119 153 Used as a vacation facility Address: 1318-5 Aza Shimo Mizubata, 416-2,3,5, Aza Nozawa, Oaza Karuizawa, Karuizawa-machi, Kitasaku-gun, Nagano Prefecture Land area: 1,991.26 m2 (Public register) Floor space: 451.54 m2 (Public register) 13 7,370 630 Used as a dormitory for single employees Address: 3 Kuramotocho, Nishi Mabashi, Matsudo-shi, Chiba Prefecture Land area: 1,792.83 m2 (Public register) Floor space: 7,986.25 m2 (Public register) 3. Method of Sale and Buyers -1- Assets Numbered 1-12 Method of sale: Mitsubishi Corporation will place the applicable assets in a trust for the management and disposal of real estate that is managed by J.P. Morgan Trust Bank Ltd. The trust beneficiary rights will then be sold to a special purpose company established by an affiliate of the Morgan Stanley Group. Trustee: Company name J.P. Morgan Trust Bank Ltd. Address Akasaka Park Building, 2-20, Akasaka 5-Chome, Minato-ku, Tokyo President David Anderson Capital 9,724,999 thousand yen (As of March 11, 2003) Main business Trust banking Transferee of beneficiary rights: Company name Nakahara Holding (Special Purpose Company) Address 56-15, Kameido 6-chome, Koutou-ku, Tokyo President Takeshi Koyasu Capital 100 thousand yen Main business (1) Acceptance of specific assets under an asset liquidation scheme structured in accordance with applicable laws, and management and disposal of same. (2) All other work related to the previously mentioned liquidation of specific assets. -2- Asset Number 13 Method of sale: Buyer: Company name Best Life Inc. Address Minami Building 6th Floor, 17-11, Dougenzaka 1-Chome, Shibuya-ku, Tokyo President Yasuaki Tokugawa Capital 110,000 thousand yen (As of March 11, 2003) Main business Construction, planning, sale, operation and management of elderly care homes 4. Planned Timetable for Sale Contract signing: End of March 2003 Transfer of ownership and possession: End of March 2003 5. Outlook - Effect on Earnings Due to these transactions, Mitsubishi Corporation will recognize losses on sale of approximately 10.5 billion yen and 4.6 billion yen on a non-consolidated basis and consolidated basis (US GAAP), respectively. However, these losses have already been factored into Mitsubishi Corporationfs forecasts of consolidated earnings, which were announced on November 13, 2003. Please note that Mitsubishi Corporation manages results on a consolidated basis and therefore does not disclose projections for the parent company. # # # This information is provided by RNS The company news service from the London Stock Exchange END DISNKDKBCBKKQND
1 Year Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell Chart |
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