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ISSUANCE OF DOMESTIC UNSECURED YEN BONDS

December 12, 2008

Kobe Steel, Ltd. hereby gives notice that it has decided to issue Domestic Unsecured Yen Bonds under the terms as set forth below:

Domestic Unsecured Yen Bonds due 25 December 2018
1.	Name:		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