November 22, 2008

Acquisition of 60% interest in Leavitt Tube Company

Maruichi Steel Tube Ltd announced that the basic agreement have been reached with representatives of Leavitt Tube Company, LLC an American limited liability company established in Illinois for the acquisition of 60% interest in LTC by investing USD 90 million through Maruichi Steel’s special purpose company and make LTC one of affiliated companies of Maruichi Steel after acquisition.

Maruichi Steel Tube Ltd was founded in 1926 and is headquartered at Kitahorie Nishi-ku in Osaka Japan. It reported sales of JPY 123,542 million n the term ended March 2007 on consolidated basis.