RNS Number:3506M
NEC Corporation
16 June 2003




                                                                   June 16, 2003


  NEC Corporation's intended Japanese offering of NEC Electronics Corporation
     shares owned by NEC Corporation in conjunction with the listing of NEC
              Electronics Corporation on the Tokyo Stock Exchange


On June 16, 2003, the Tokyo Stock Exchange approved the application for listing 
of the shares of NEC Electronics Corporation (profile as below), a       
subsidiary of NEC Corporation, on the Tokyo Stock Exchange.



NEC Corporation intends to offer to sell a portion of the NEC Electronics 
Corporation shares owned by NEC Corporation and we hereby inform you of the 
outline of the intended offering within Japan as follows:



                                      Description



1. Summary of Intended Offering

        (1) Selling Shareholder               NEC Corporation
        (2) Shares to be Offered              Common stock of NEC Electronics Corporation
        (3) Number of Shares to be Offered    10,500,000
        (4) Offering Price                    To be determined

        In addition to the above offering, the representative of the Japanese
        underwriters may over-allot up to an additional 3,000,000 shares of NEC
        Electronics Corporation's common stock, which will be lent to the
        representative of the Japanese underwriters by NEC Corporation. In
        connection with the offering of the over-allotted shares, NEC
        Corporation will grant the representative of the Japanese underwriters
        the right option to purchase up to an aggregate of 3,000,000 additional
        shares of NEC Electronics Corporation's common stock (Over-allotment
        Option).

2. Others

At its board meeting held today, NEC Electronics Corporation decided to issue
        23,500,000 new shares in conjunction with the listing.



Not to be circulated in the United States. This material is not an offer of securities for sale in the United States.
The securities described in this material may not be offered or sold in the United States absent registration or an
exemption from registration. Public offerings of securities made in the United States must be made by means of a
prospectus that contains detailed information about the company and management, as well as financial statements.

--------------------------------------------------------------------------------



                                                                      Attachment





                     Profile of NEC Electronics Corporation


        1. Company Name                       NEC Electronics Corporation
        2. Location of the Head Office        1753, Shimonumabe, Nakahara-ku, Kawasaki, Kanagawa,
                                              211-8666, Japan
        3. Establishment                      November 1, 2002
        4. President                          Kaoru Tosaka
        5. Capital                            50 billion yen
        6. Business                           Research and development, manufacturing, sales and
                                              services of semiconductors (except for general-purpose
                                              DRAMs)
        7. Number of Employees                Approximately 24,000 (Japan – 19,000, Overseas &
                                              ndash; 5,000)

                                      ***






Not to be circulated in the United States. This material is not an offer of securities for sale in the United States.
The securities described in this material may not be offered or sold in the United States absent registration or an
exemption from registration. Public offerings of securities made in the United States must be made by means of a
prospectus that contains detailed information about the company and management, as well as financial statements.



--------------------------------------------------------------------------------

Contacts:
Diane Foley
Corporate Communication Division
NEC Corporation
TEL: +81-3-3798-6511





                      This information is provided by RNS
            The company news service from the London Stock Exchange
END

MSCKQLBFXQBBBBL