Profit from Subsidiary IPO

RNS Number:2404P
NEC Corporation
01 September 2003


                                                               September 1, 2003


                             (English Translation)


          Profit Expected from Initial Public Offering of a Subsidiary


On September 1, 2003, in conjunction with the listing of NEC System
Technologies, Ltd., a subsidiary of NEC Corporation, on the Tokyo Stock
Exchange, the sales price of the shares of common stock of NEC System
Technologies, Ltd. being sold by NEC Corporation was determined.

The estimated amount of NEC Corporation's profit resulting from this offering is
as follows:

1. Estimated amount of profit

NEC Corporation expects to post an income before income taxes of approximately
13.0 billion yen on a non-consolidated basis and approximately 16.0 billion yen
on a consolidated basis, from the sale of a portion of its shares of common
stock of NEC System Technologies, Ltd. (3,500,000 shares (excluding the 180,000
shares that may be overallotted)) and the issuance of new shares (3,500,000
shares) by NEC System Technologies, Ltd.



2. Impact on financial results forecasts

NEC Corporation's non-consolidated and consolidated financial results forecasts
for the first half of the fiscal year ending March 31, 2004, which were
announced on July 31, 2003, have already reflected certain amount of profit we
had estimated in connection with the above offering. Therefore, it would not
affect NEC Corporation's financial results forecasts.





                                      ***


Not to be circulated in the United States. This material is not an offer of
securities for sale in the United States. The securities described in this
material may not be offered or sold in the United States absent registration or
an exemption from registration. Public offerings of securities made in the
United States must be made by means of an English-language prospectus that
contains detailed information about the company and its management team, as well
as financial statements.





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

END
MSCNKDKPQBKDPCK