Conversion Price Adjustments

RNS Number:4070T
NEC Corporation
18 December 2003


                                 (Translation)

                                                               December 17, 2003

              Announcement of the adjustments of conversion prices


NEC Corporation ("NEC") today announced that, in connection with the issuance of
new shares which was approved at the meeting of board of directors held on
November 21, 2003, conversion prices of the following convertible bonds of NEC
have been adjusted pursuant to the terms and conditions of each trust deed. The
adjusted conversion prices of the convertible bonds are as follows:



1. Adjustments of conversion prices


                Name of the bonds         Conversion price Conversion price
                                          after adjustment before adjustment

                                                       Yen               Yen
        The unsecured 7th convertible             1,896.30          1,962.90
        bonds
        The unsecured 10th convertible            1,328.30          1,375.00
        bonds
        The unsecured 11th convertible            3,098.10          3,207.00
        bonds with 130% call option
        The Euro Yen convertible bonds            1,669.40          1,730.00
        due 2010



2. Effective date

December 17, 2003







                      This information is provided by RNS
            The company news service from the London Stock Exchange
END

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