Toshiba Announces New US-based Company to Promote Nuclear Power Businesses

Toshiba Corporation (TOKYO:6502), a leading global enterprise in
diversified energy and electronics businesses, today announced that it
has established a new company in the United States to enhance its
nuclear power businesses.

The new company, Toshiba America Nuclear Energy Corporation,
started operation this month, with the primary mission of marketing
and promoting advanced boiling water (ABWR) nuclear power plants and
providing support for related services. As this business develops,
Toshiba also plans to expand the scope of the new company´s operations
to provide licensing and extensive engineering support related to
construction of future nuclear power plants, including plant design
and procurement. The new office will be located just outside
Washington, D.C.

In the United States, major utilities have announced plans to
build over 30 new nuclear power plants in coming years. Toshiba and
Westinghouse, a Toshiba Group company, are responding to this trend by
promoting marketing activities to win orders for both advanced boiling
water reactors (ABWR) and pressurized water reactors (AP-1000) and
their related systems. The establishment of Toshiba America Nuclear
Energy Corporation as a new marketing base will reinforce these
activities, and enhance the combined capabilities of
Toshiba-Westinghouse to serve U.S. customer needs.

Toshiba America Nuclear Energy Corporation will start operation
with an initial staff of about 30, a figure that will increase as work
on nuclear power plants by U.S. utilities gathers pace. Construction
is expected to reach full swing around 2011, and at that time, Toshiba
will also establish engineering liaison offices near construction
sites, and further build up its marketing force.

The new company will also be a vehicle for Toshiba and
Westinghouse to exchange know-how on their latest advances in
technologies for operation and maintenance (OP&M) of existing plants,
allowing Toshiba Group to offer its customers leading-edge, optimized
OP&M services. Westinghouse will be the focal point for execution of
these OP&M services in the United States, making use of its extensive
service capabilities and experienced personnel base. Toshiba also
plans to share with Westinghouse construction management expertise
that it has cultivated through nuclear power facility projects in
Japan, and to reinforce its business structure to provide support for
both BWR and PWR systems. The new company will also handle licensing
for the 4S, a new type of super-safe, small and simple system for
nuclear power generation, a promising technology for future
distributed power sources, laying the groundwork for future marketing
of the system.

Looking further into the future, Toshiba also plans to expand the
scope of the operations of the new company in preparation for the
possible participation in the Next-Generation Nuclear Plant (NGNP)
project.

Toshiba is proactively promoting moves to take its nuclear power
business to the global level, and positions nuclear power as a
cost-efficient long-term energy source, a powerful tool in the fight
against global warming, and an integral part of a future hydrogen
economy. In addition to the United States, the company is promoting
expansion of overseas operations in such major markets as Europe and
Asia.

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Outline of new company:
Company name: Toshiba America Nuclear Energy Corporation
President: Fuyuki Saito (currently Assistant to Vice President,
Nuclear Energy Systems and Services Division, Toshiba
Corporation)
Establishment: January 2008. Operations start in March 2008.
Location: Alexandria, Virginia.
Employees: About 30 (at the start of operations)
Business areas: Promotion and service support of ABWR systems;
operation and maintenance of existing plants;
promotion of the 4S system, etc.
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