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Mitsui to Acquire Additional Shares in Sims Group Limited

Aug. 26, 2008


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Mitsui & Co., Ltd. ("Mitsui") announced that its wholly owned subsidiary in Sydney, Mitsui Raw Materials Development Pty. Ltd. ("MRMD"), has acquired an additional 3.2% of the issued ordinary shares of Sims Group Limited ("Sims"), headquartered in Sydney, for approximately A$198 million (approximately 18.9 billion yen) through the Australian Stock Exchange. Sims is the world largest recycling company, with metal scrap as its core business.

In June 2007, MRMD acquired 19.9% of the issued ordinary shares and subsequently acquired the further shares. Then, in March 2008, Sims acquired and merged with Metal Management Inc., the second largest US metal scrap recycling company, headquartered in Chicago, through share exchange. As a result of the merger, MRMD's ownership in Sims was diluted to 16.0%.

After the share acquisition this time, MRMD holds a 19.2% ownership in Sims, with an accumulated investment amount of approximately A$897million (approximately 89.4 billion yen). MRMD is the largest shareholder of Sims and has nominated 2 directors to the board of directors of Sims.

Mitsui recognizes scrap recycling as an industrial solution to environmental problems and has set recycling business as one of its key strategic business activities. Mitsui expects to enhance this business through this acquisition.

Outline of Sims

Sims is the world's leading metal recycler, with 235 sites across four continents. For more information, please visit their URL at

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: +81-3-3285-7618
Facsimile: +81-3-3285-9819