The Kansai Electric Power Co., Inc. (Code: 9503)
6-16 Nakanoshima 3-chome, Kita-ku, Osaka
Company Representative: Yohsaku Fuji, President and Director
Contact: Yasushi Sugimoto, General Manger, Office of Financing and Accounting
Kansai Electric Power Co., Inc. (the Company) hereby announces that it has decided the method for purchasing its own shares, pursuant to Article 211-3, Paragraph 1, Item 2 of Japanese Commercial Code. The details are as follows.
1. Method of purchasing shares
The Company will place an order to repurchase shares at 8:45 a.m. on April 22, 2005 through ToSTNeT-2 (Tokyo Stock Exchange Trading Network). The price of the shares in purchase order will be 2,070 yen, the closing price of the Company's shares on the Tokyo Stock Exchange today, April 21, 2005 (there will be no change to the trading time or system). The aforementioned repurchase order applies only to the time mentioned above.
2. Details of stock purchase
(1) Class of shares to be repurchased : Kansai Electric ordinary shares
(2) Number of shares to be repurchased: 9,300,000 shares
||The number of shares will not change. Depending on market fluctuations,the order may be partially or completely cancelled.
||An appropriate offer will be made to purchase the target number of stock.
3. Announcement of results
The results of the purchase will be announced after the planned transaction at 8:45 a.m., April 22, 2005.
Detail of the share-buyback program agreed at board meeting on April 21, 2005
||Class of shares to be repurchased
||Kansai Electric ordinary shares
||Maximum number of shares
||Maximum amount of repurchase
||20,000 million yen