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The English translation is provided for information purposes only. If any discrepancy arises between thistranslation and the Japanese original, the Japanese original shall prevail. This press release may not be
published, distributed, or diffused in the United States of America. This press release is not an extension intothe United States or the offer mentioned herein. Please see the important notice at the end of this press
release.

[Translation]
October 5, 2012
To Whom It May Concern
Covalent Materials Corporation

Re: Administrative Agents concerning the Offer to Purchase of the 1stSeries Unsecured Bonds and Procedure to Open an AccountCovalent Materials Corporation (the “Company”) announced in the press release “Re: Resolutionof the Bondholder’s Meeting held concerning Amendment to the Terms and Conditions (Extensionof Maturity Date, Increase in Interest Rate, Increase in Redemption Amount, etc.) of the 1st Series
Unsecured Bonds” dated October 5, 2012 that the Company’s proposal concerning amendment tothe terms and conditions of the 1st Series Unsecured Bonds (with inter-bond pari passu clause)(ISIN code: JP330135A829) (the “Bonds”) has been approved in the bondholder’s meeting held
today, and that the Company expects to file for an approval with the Tokyo District Court shortly,with respect to the such resolution of the bondholder’s meeting.
Furthermore, the Company plans to commence an offer to purchase the Bonds (the “PurchaseOffer”) which is subject to, among other things, the approval of the proposal at the bondholder’smeeting of the Bonds and the court’s approval of such resolution of the bondholder’s meeting, as
the Company has announced in the press release “Re: Holding of the Bondholders Meeting
concerning Amendment to the Terms and Conditions (Extension of Maturity Date, Increase inInterest Rate, Increase in Redemption Amount, etc.) and Offer to Purchase of the 1st Series
Unsecured Bonds”, dated September 13, 2012. For an outline of the terms of the Purchase Offer,1

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please refer to “4. Outline of Purchase Offer” included in the press release dated September 13,
2012, described above.
The Company would like to hereby announce that it has retained administrative agents for thePurchase Offer, in order for bondholders interested in participating in the Purchase Offer to be able
to prepare in advance of the commencement of the Purchase Offer. As for detailed procedures of
the Purchase Offer, the Company expects to announce this information shortly. Bondholders
interested in participating in the Purchase Offer are kindly requested to open accounts with either
one of the administrative agents below (bondholders who already hold an account with either of
the administrative agents are not required to newly open an account). Non-Japanese Resident
bondholders are recommended to open accounts at either of the administrative agents at an earlystage, considering that this procedure tends to take longer for non-Japanese resident bondholders.
1. Administrative agents for the Purchase Offer＊ Mizuho Securities Co., Ltd.
Contact information regarding the Purchase Offer:
Japanese Residents
Wealth Management Group
Address: JA Building, 3-1, Otemachi 1-chome, Chiyoda-ku, Tokyo 100-6825
Tel: 03-6704-5365
Person in charge:
Mr. Nishigaki（Email）futoshi.nishigaki@mizuho-sc.com
Non-Japanese Residents
Fixed Incomes Sales Dept I
Address: Otemachi First Square, 5-1, Otemachi 1-chome, Chiyoda-ku Tokyo100-0004
Tel: +81-3-5208-2924
Persons in charge:
Mr. Kawamata（Email）hiroyuki.kawamata@mizuho-sc.com
Mr. Hong（Email）myungjun.hong@mizuho-sc.com
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For bondholder already holding an account with Mizuho Securities Co., Ltd., please contact
the person(s) in charge of your existing account.
＊ SMBC Nikko Securities Inc.
Contact information regarding the Purchase Offer:
Japanese Residents
Institutional Business Operation
Address: Shin-Marunouchi Building, 5-1, Marunouchi 1-chome, Chiyoda-ku
Tokyo 100-6524
Tel: 03-3283-5660
Persons in charge:
Ms.Katakabe,（Email）katakabe_noriko@smbcnikko.co.jp
Ms. Nagatani（Email）nagatani_ayako@smbcnikko.co.jp
Mr. Hasegawa（Email）hasegawa_tsuyoshi@smbcnikko.co.jp
Non-Japanese Residents
Overseas Client Operation/ Institutional Business Operation
Address: Fukagawa Gazaria W1, 5-55, Kiba 1-chome, Koto-ku, Tokyo
135-8532
Tel: +81-3-5857-0270
Persons in charge:
Ms. Sekiguchi（Email）sekiguchi.atsuko@smbcnikko.co.jp
Mr. Sato（Email）sato.tomonori@smbcnikko.co.jp
2. Procedure to open an AccountBondholders interested in participating in the Purchase Offer will be required to hold an
account with either of the administrative agents above. Bondholders who do not hold an
account with either of the administrative agents will be required to newly open an account3

<Not for distribution in or into the United States>with either of the administrative agents (bondholders who already hold an account with eitherof the administrative agents are not required to newly open an account). Furthermore, identity
verification documents will need to be prepared in order to newly open an account.

Pleasenote that institutional non-Japanese resident bondholders seeking to newly open an accountwill be required to present identity verification documents of the person in charge of thetrading activity on the account. If such identity verification documents would not be presented,
it may be refused to open an account.
For details, please contact the administrative agents at the contact information provided above.
The Company intends to announce the commencement of the Purchase Offer shortly after
obtaining the court’s approval of the resolution of the bondholder’s meeting, in which detailed
procedures related to participating in the Purchase Offer will be described.

＊ For inquiries regarding this matter:
Accounting & Finance, Finance Group,Covalent Materials Corporation
For English communication, please contact us at the E-mail address below.
(E-mail: IR-contact@covalent.co.jp

Mobile: +81-70-6526-8230)

Note:
This press release may not be published, distributed, diffused or otherwise sent into the UnitedStates of America (including its territories and possessions, every State in the United States and theDistrict of Columbia). This press release does not constitute an extension into the United States ofthe tender offer mentioned in this press release.
The contents of this press release have not been reviewed by any regulatory authority in HongKong. You are advised to exercise caution in relation to the offer. If you are in any doubt about
any of the contents of this press release, you should obtain independent professional advice.
Nothing in this press release is intended to be an offering of any Bonds or any form of securities inHong Kong, by means of any document. Any offer to repurchase the Bonds is only available to4

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existing holders of the Bonds who are (a) “professional investors” as defined in the Securities andFutures Ordinance (Cap. 571) of Hong Kong (the “SFO”) and any rules made thereunder; or (b) inother circumstances which do not result in the press release or any accompanying document being a“prospectus” as defined in the Companies Ordinance (Cap. 32) of Hong Kong ("CO") or which do
not constitute an offer to the public within the meaning of the CO.
No advertisement, invitation or document relating to the Bonds, which is directed at, or thecontents of which are likely to be accessed or read by, the public of Hong Kong (except ifpermitted to do so under the securities laws of Hong Kong) has been or will be issued other thanwith respect the Bonds which are or are intended to be acquired only from persons outside Hong
Kong or only from existing holders of the Bonds who are “professional investors” as defined in theSFO and any rules made thereunder or whose dealings are otherwise permitted under the SFO orthe CO.

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