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|ISSUANCE OF DOMESTIC UNSECURED YEN BONDS|
|Domestic Unsecured Yen Bonds due 25 December 2018
Kobe Steel, Ltd.Series 52 Unsecured Bonds
|(Limited Inter-Bond Pari Passu Clause)|
|2.||Total Amount of Issue:||4 Billion Yen|
|3.||Denomination of Bond:||100,000,000 Yen each|
|4.||Interest Rate:||2.14% per annum of the principal of the Bonds|
|5.||Issue Price:||100% of the principal amount of the Bonds|
|6.||Redemption Price:||100% of the principal amount of the Bonds|
|7.||Maturity Date:||To be redeemed in a lump sum on 25 December 2018|
|8.||Offering Period:||12 December 2008|
|9.||Closing Date:||25 December 2008|
|10.||Method of Issue:||Public offering in the domestic market|
|11.||Date of Payment of Interest on the Bonds:||Semiannually on 25 June and 25 December
|12.||Status of the Bonds:||Unsecured by assets or guarantees|
|13.||Fiscal Agent:||The Bank of Tokyo-Mitsubishi UFJ, Ltd.|
|14.||Underwriters:||Mizuho Securities Co., Ltd.
Mitsubishi UFJ Securities Co., Ltd.
as the "Joint Lead Managers"
Use of Proceeds:To be applied toward the redemption of bonds