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Kuraray Co., Ltd. resolved at a meeting of its Board of Directors held on May 16, 2002 to propose the purchase of its own shares pursuant to Article 210 of the Commercial Code for resolution at the Ordinary General Meeting of Shareholders scheduled to be held on June 27, 2002 as follows:

1. Background for Acquiring Its Own Shares:

The Company will purchase its own shares pursuant to Article 210 of the Commercial Code in order to carry out flexible capital policies which meet the changes in the business environment.

2. Details of Acquisition:

• (1) Type of shares to be acquired: shares of common stock
• (2) Total number of shares to be acquired: 30 million shares (maximum)
  (equivalent to 7.8% of the total number of issued and outstanding shares)
• (3) Total purchase price of shares: 30 billion yen (maximum)

The foregoing statement shall be subject to the resolution at the 121st Ordinary General Meeting of Shareholders of the Company scheduled to be held on June 27, 2002.

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