Mitsui divests shares of United Petroleum Development Co., Ltd.

Mar. 29, 2010

Main Contents

Mitsui & Co., Ltd. ("Mitsui") announced today that Mitsui has divested all it shares of United Petroleum Development Co., Ltd. (UPD) to Japan Energy Development Co., Ltd. (JED) and Cosmo Oil Co., Ltd. (Cosmo).

Upon a request of JED and Cosmo to purchase Mitsui's UPD shares in 2009, Mitsui decided on this divesture in consideration of its corporate strategy to optimize its business portfolio. Mitsui's subsidiary company Mitsui Oil Exploration Co., Ltd. continues to hold 10% of UPD's shares.

UPD is participating in exploration and production activities through Bunduq Co., Ltd in the El Bunduq Field, which is located on the offshore border of United Arab Emirates and Qatar.

Mitsui continues to view the Abu Dhabi and Qatar region as one of its core oil and gas exploration and production business regions. Mitsui will continue to invest in attractive opportunities and expanding its portfolio in the Middle East.

Summary of UPD

Company Address Minato-ku, Tokyo Japan
Establishment November 6, 1970
Share Holders
(Before transaction)
JED 35%, Cosmo 35%, Mitsui 20%, Mitsui Oil Exploration Co., Ltd.10%
Capital JPY 2,010 million (end of December 2009)
Net Sales JPY 29.4 billion (fiscal year ended December 2009)
Representative Yaichi Kimura, Representative Director, President
Fiscal Term December
Number of Employees 30 (as of end of December 2009)
Oversea branches Abu Dhabi UAE, Doha Qatar
Operating Company Bunduq Co., Ltd. (Abu Dhabi, UAE)

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.
Investor Relations Division
Telephone: +81-3-3285-7910
Facsimile: +81-3-3285-9819
Mitsui & Co., Ltd.
Corporate Communications Division
Kazuhisa Kawamura
Telephone: +81-3-3285-7566
Facsimile: +81-3-3285-9819