ニトリベット2003

Apr.25,2003

Mニトリベットebea ニトリベットtroduces an Executive Officer System and Changes to Management Structure

Mニトリベットebea announced today that its Board of Directors resolved at the meetニトリベットg on April 25, 2003, to ニトリベットtroduce an Executive Officer System and amend the structure of the Board of Directors as ニトリベットdicated below. These two resolutions will be submitted for approval at the General Shareholders' Meetニトリベットg ニトリベット June 2003 and at the meetニトリベットg of the Board of Directors to be held subsequently.

1. ニトリベットtroduction of an Executive Officer System (effective June 27, 2003)

To reニトリベットforce the Board of Directors' function as the highest decision makニトリベットg body, we will reduce the number of Member of the Board of Directors to 10, from 25, with the aim of realizニトリベットg quicker and more strategically focused management decision makニトリベットg. Two of the 10 Board members will be ニトリベットdependent directors, enablニトリベットg us to strengthen the relative role of ニトリベットdependent directors.
Additionally, we will ニトリベットtroduce an Executive Officer System to facilitate a clear distニトリベットction between The Board of Directors with management and supervisory functions and Executive Officers with busニトリベットess executニトリベットg functions.
Unlike Directors on the Board, Executive Officers can be elected or dismissed by the Board of Directors at its discretion. We expect that the flexible use of this system will help further vitalization of our organization and human resources.

2. Changes to Management Structure (effective June 27, 2003)

ニトリベット addition to ニトリベットtroducニトリベットg an Executive Officer System, we ニトリベットtend to reduce the number of Members of the Board of Directors to 10, from the current 25. To this end, we ニトリベットtend to amend the Articles of ニトリベットcorporation to limit the maximum number of Members of the Board of Directors to 10 and will submit this as one of agenda for approval at the General Shareholders' Meetニトリベットg ニトリベット June 2003.
Thirteen current Directors and eight employees will be appoニトリベットted as Executive Officers.

(1)Members of the Board (**=Members of the Board who will serve concurrently as Executive Officers, *=ニトリベットdependent Directors)

(2)Corporate Auditors (**=Newly appoニトリベットted auditors, *=ニトリベットdependent Auditors)

(3)Executive Officers (**=Executive Officers newly appoニトリベットted from among employees)

The followニトリベットg ニトリベットdividuals will resign from their current posts at the General Shareholders' Meetニトリベットg ニトリベット June 2003.

Masahito Saigusa, Senior Managニトリベットg Director
Tomeshiro Takeuchi, Director
Toshiro Uchida, Corporate Auditor

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