Trading Losses of Mitsui Oil (Asia) Pte. Ltd. ("MOAS") in physical and future trading of Naphtha

Feb. 15, 2007

Main Contents

As Mitsui announced on 21 November and 20 December 2006, it was found that significant losses from physical and future trading of Naphtha had been deceptively concealed.

Immediately thereafter, MOAS and Mitsui conducted an internal investigation, which completed on January 30, 2007 and, on 12 February 2007, MOAS reported to the outcome of this incident to Singapore Police Force.

MOAS reported to Mitsui that on 14 February 2007 Singapore Police Force arrested the trader but, pending investigation, released such trader on bail immediately thereafter.

We will continue to fully cooperate with Singapore Police Force in their investigation.

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.


For inquiries on this matter, please contact

Mitsui & Co., Ltd.
Corporate Communications Division
Telephone: +81-3-3285-7548
Facsimile: +81-3-3285-9819