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The establishment of a joint investment company with Petrobras for the production of bio ethanol

Mar. 17, 2008


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On March 12, 2008, Mitsui & Co., Ltd. (Headquarters: Otemachi, Chiyoda-ku, Tokyo; President: Shoei Utsuda) (hereafter Mitsui) and Petrobras, a Brazilian state-owned oil company executed a shareholders agreement to establish a new company (Mitsui 50%, Petrobras 50%) for the purpose of participating in bio-energetic complex projects whose business includes bio-ethanol production and generating electricity from sugarcane bagasse.

The company will continue to study the viability of such projects and will make investments as they confirm viable.

Mitsui believes that the projects will contribute to a stable supply of renewable energy to Japan and to the world-wide markets.

Profile of the new company

Name (tentative) Participações Nippo Brasileira em Complexos Bioenergéticos S.A.
Place of registration Rio de Janeiro Brazil
Main Business Invest in bio-ethanol projects in Brazil
Investment Ratio Mitsui 50%, Petrobras 50%
Timing of Establishment April 2008

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.
Corporate Communications Division
Telephone: +81-3-3285-7596
Facsimile: +81-3-3285-9819