May 30, 2005
Announcement of Management Changes

At the meeting of the board of directors of INPEX CORPORATION held on May 30, 2005, thefollowing changes in directors and statutory auditors were informally decided on condition that theproposed changes will be approved at the company’s general meeting of shareholders to be held on
June 22, 2005 and the meeting of the board of directors thereafter, and the shareholder of the specialclass share will not raise an objection to the company’s decision of not holding a general meeting ofspecial class shareholder.

1.

Changes in representative directors<Title>2.

<Name(current title)>

ChairmanKunihiko Matsuo（President）

President

Naoki Kuroda（Executive Senior Vice President）

Executive Senior Vice President

Katsujiro Kida（Executive Senior Managing Director）

Executive Senior Vice President

Mutsuhisa Fujii（Executive Senior Managing Director）

Newly appointed directors<Title>Director（Outside Director）<Name(current title)>
Hisanori Yoshimura（Executive Vice President, Chief
Executive

Officerfor

EnergyBusinessGroup,

Mitsubishi Corporation）
Director（Outside Director）

Kazuo Ogawa （ Corporate Executive Vice President,
Member of the Board, Marubeni Corporation）

Director（Outside Director）

Michihisa Shinagawa（Managing Executive Officer,General Manager, Mineral Resources & Energy Unit,Sumitomo Corporation）

3.

Retiring directors<Title>Katsuhiko Sakurai*<Name(current title)>（ Director & Coordinator, Planning & New Ventures
Dept.）

Yukio Masuda（Director（Outside Director））

Shigeki Kuwahara（Director（Outside Director））* Katsuhiko Sakurai will be appointed an Advisor on INPEX CORPORATION and a Statutory
Auditor on INPEX Alpha, Ltd., our consolidated subsidiary.

1Management (As of June 22, 2005 to be approved by the general shareholder’s and the board ofdirectors’ meetings)
１） Members of Board of Directors
Title

NameMain Responsibilities【Representative Directors】
ChairmanKunihiko Matsuo

President

Naoki Kuroda

Executive

SeniorVice Katsujiro Kida

President

Secretary Dept./ Corporate Strategies &Coordination/ General Administration/
Public Affairs/ Crude Oil Marketing

Executive

SeniorVice Mutsuhisa Fujii

General Affairs/ Accounting & FinancePresident【Directors】
Managing Director

Kazuhisa Konoma

Oceania Area

Managing Director

Seiji Yui

Middle Eastern Projects

Managing Director

Noboru Tezuka

ManagingDirector&General

Manager, Tehran Office
Managing Director

Kunio Kanamori

Exploration & Geophysics

Director

Michio Hikari

General Manager, Gas Business Dept.

Director

Sadafumi Tanigawa

Director & General Manager, Jakarta
OfficeDirector

Shunichiro Sugaya

Coordinator, Development Dept. &Petroleum Technology Div.

Director

Seiya Ito

General Manager, Corporate Planning& Management Dept. & Public Affairs
Dept.

Director

Wataru Tanaka

Director & Deputy General Manager,,
Tehran OfficeDirector(Outside Director)

Kazuo Wakasugi

Director(Outside Director)

Hisanori Yoshimura

Director(Outside Director)

Junji Sato

Director(Outside Director)

Kazuo Ogawa

Director(Outside Director)

Michihisa Shinagawa

2２） Members of the Statutory Auditors
Title

Name

Statutory Auditor(Outside)

Nobuo Kawa

Statutory Auditor

Shigeru Watanabe

Statutory Auditor(Outside)

Tadaaki Tokunaga

Statutory Auditor(Outside)

Ryoichi Ono3