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Mitsui to spend US$284 million for Robe River J/V port expansion in Western Australia

Feb. 1, 2007


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Mitsui & Co. Ltd.("Mitsui") announced today that it will spend US$284 million through its 100% subsidiary Mitsui Iron Ore Development on a further expansion of Robe River J/V's iron ore export capacity, increasing port capacity at Cape Lambert in the Pilbara region of Western Australia from nameplate capacity of 55 to 80 million tones per annum.

The port at Cape Lambert (also known as Port Walcott) is owned by Robe River Iron Associates (Robe River J/V:  Rio Tinto 53%, Mitsui Iron Ore Development 33%, Nippon Steel Australia 10.5%, Sumitomo Metal Australia 3.5%), and the J/V owns Robe Valley and West Angelas mine sites.

Robe River J/V decided to expand Cape Lambert port capacity corresponding to the growing global demand for iron ore. Completion of the expansion is scheduled for the fourth quarter of 2008 and the total cost of the capital is estimated approximately US$860 million. Other J/V partners will share the cost pro-rata based on each shareholder's ratio.

The expansion project at Cape Lambert is subject to relevant Australian governmental approvals.

Notice:
This press release includes forward-looking statements about Mitsui. These forward-looking statements are based on the current assumptions and beliefs of Mitsui in light of the information currently available to it, and involve known and unknown risks, uncertainties and other factors. Such risks, uncertainties and other factors may cause Mitsui's actual results, performance, achievements or financial position to be materially different from any future results, performance, achievements or financial position expressed or implied by these forward-looking statements. The risks, uncertainties and other factors referred to above include, but are not limited to, those contained in Mitsui's latest annual report on Form 20-F, which has been filed with the U.S. Securities and Exchange Commission.
This press release is published in order to publicly announce specific facts stated above, and does not constitute a solicitation of investments or any similar act inside or outside of Japan, regarding the shares, bonds or other securities issued by us.

Information

For inquiries on this matter, please contact

Mitsui & Co., Ltd.
Investor Relations Division
Telephone: +81-3-3285-7910
Facsimile: +81-3-3285-9819
infoTKADZ@mitsui.com
Mitsui & Co., Ltd.
Corporate Communications Division
Telephone: +81-3-3285-7562
Facsimile: +81-3-3285-9819