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This is to inform you that, in accordance with the provisions of Article 210 of the Commercial Code of Japan, the Board of Directors of Kuraray Co., Ltd. on November 26, 2003 made a resolution for the purchase of the Company's own shares based on a resolution of the Ordinary General Meeting of Shareholders held on June 26, 2003.

Description of Resolution

1. Type of shares to be acquired

Common stock of Kuraray Co., Ltd.

2. Maximum number of shares allowed for acquisition

5,000,000 shares

3. Maximum allowable purchase value

4.5 billion yen

4. Purchasing method

Ordinary market transaction

5. Purchasing period

From November 27, 2003 to January 26, 2004

(Reference)

Details of the said resolution of the Ordinary General Meeting of Shareholders held on June 26, 2003

• (1)Type of shares to be acquired :
  Common stock of Kuraray Co., Ltd.
• (2)Maximum number of shares allowed for acquisition :
  30,000,000 shares
• (3)Maximum allowable purchase value :
  30 billion yen

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