<Not for distribution in or into the United States>

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 This press release may not be
published, distributed, or diffused in the United States of America.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: Resolution of the Bondholder’s Meeting held concerning Amendment
to the Terms and Conditions (Extension of Maturity Date, Increase in Interest Rate,
Increase in Redemption Amount, etc.) of the 1st Series Unsecured Bonds

On October 5, 2012, Covalent Materials Corporation (the “Company”) held a bondholder’smeeting concerning the 1st Series Unsecured Bonds (with inter-bond pari passu clause) (ISIN
code: JP330135A829) (the “Bonds”), in which the Company’s proposal concerning amendment tothe terms and conditions of the Bonds has been approved as proposed.
The Company is to file for an approval with the Tokyo District Court shortly, with respect to theresolution of the Bondholders Meeting described above. The resolution of the Bondholders
Meeting described above will become effective to all bondholders once the court’s approval ofsuch bondholders’ resolution is obtained. .
For details related to the bondholder’s meeting as well as amendment to the terms and conditionsof the Bonds, please refer to 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, 20121

<Not for distribution in or into the United States>＊ For inquiries regarding the bondholders meeting: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This press release may not be published, distributed, diffused or otherwise sent into the UnitedStates of America (including its territories and possessions, every State in the United States and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 toexisting 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 if
permitted 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.

2