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Kobe Steel announces new representative directors
March 16, 2004

TOKYO, March 16, 2004 - Kobe Steel, Ltd. announces changes in its representative directors. This decision was reached at the board of directors' meeting held today.

Kobe Steel intends to appoint new representative directors after resolution at the ordinary general shareholders' meeting to be held in late June and the board of directors' meeting that follows. The new representative directors and their titles will be:

Koshi Mizukoshi

New title: Chairman and Representative Director
Current title: President, Chief Executive Officer, and Representative Director

Yasuo Inubushi

New title: President, Chief Executive Officer, and Representative Director
Current title: Executive Vice President and Representative Director

Hiroshi Sato

New title: Executive Vice President and Representative Director
Current title: Senior Managing Director

Toshio Kimura

New title: Executive Vice President and Representative Director
Current title: Executive Officer

The following representative directors will retire in late June:

Tsuguto Moriwaki

New title: President and Director, Shinsho Corporation
Current title: Executive Vice President and Representative Director

Shinji Yano

New title: President and Director, Kobelco & Materials Copper Tube, Ltd.
Current title: Executive Vice President and Representative Director

Appointments of representative directors and top executives effective April 1 follow below. These interim appointments will continue until late June, at which time the general shareholders' meeting and board of directors' meeting will finalize the changes in representative directors.

Koshi Mizukoshi

New title: Chairman and Representative Director
Current title: President, Chief Executive Officer, and Representative Director

Yasuo Inubushi

New title: President, Chief Executive Officer, and Representative Director
Current title: Executive Vice President and Representative Director

Tsuguto Moriwaki

New title: Executive Vice President and Director
Current title: Executive Vice President and Representative Director

Shinji Yano

New title: Executive Vice President and Director, Kobe Steel
President and Director, Kobelco & Materials Copper Tube, Ltd.
Current title: Executive Vice President and Representative Director

Hiroshi Sato

New title: Executive Vice President and Representative Director
Current title: Senior Managing Director

Toshio Kimura

New title: Executive Vice President and Officer
Current title: Executive Officer

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