FOR IMMEDIATE RELEASE

Determination of Interest Rate and Conversion Price Formula forConvertible Bond Type Bonds with Stock Acquisition Rights
Tokyo, November 27, 2009 — Hitachi, Ltd. (Hitachi; TSE: 6501 / NYSE:HIT) announced
that, pursuant to a decision by its President and Chief Executive Officer, Hitachi determined
the interest rate and conversion price formula for the 130% Call Option Attached Unsecured
Convertible Bond Type Bonds with Stock Acquisition Rights (8th Series) (with inter-bondpari passu clause) (the “Bonds with Stock Acquisition Rights”, the bonds portion of which
are referred to as the “Bonds” and the stock acquisition rights portion of which are referred toas the “Stock Acquisition Rights”).
1. Interest rate of the Bonds
0.10% per annum
2. The conversion price (the “Conversion Price”) to be used to determine the number ofshares of Hitachi’s common stock to be issued upon exercise of the Stock Acquisition Rights.
The Conversion Price will be initially determined by taking market demand and other factors
into account, in accordance with the method stated in Article 25 of the Regulations
Concerning Underwriting of Securities, etc. established by the Japan Securities Dealers
Association and multiplying the closing price of the shares of Hitachi’s common stock on theFirst Section of the Tokyo Stock Exchange on a day between December 7, 2009 andDecember 10, 2009 (the “Conversion Pricing Date”) (or, if no closing price is quoted on suchdate, the closing price of the immediately preceding date) by a percentage determined on thesame date within the range of 130-135% and (if any amount less than one yen is generated asa result of the calculation, the amount will be rounded up). If the Conversion Pricedetermined as a result of the calculation above falls below ¥199, the issuance of the Bonds
with Stock Acquisition Rights will be cancelled.
3. The rationale for not requiring payment for the Stock Acquisition Rights
Considering that there is a close interrelation between the Bonds and the Stock Acquisition
Rights, which is demonstrated by the fact that the Stock Acquisition Rights are attached to theConvertible Bond Type Bonds with Stock Acquisition Rights, the Stock Acquisition Rights
are not transferable separately, and exercise of the Stock Acquisition Rights requires
contribution of the Bonds to which the Stock Acquisition Rights are attached, and also taking
into consideration the theoretical value of the Stock Acquisition Rights and the economicvalue Hitachi can obtain from the terms of the issue of the Bonds such as the interest rate of
the Bonds (0.10 % per annum) and the issue price, Hitachi decided not to require payment for
the Stock Acquisition Rights.
This press release does not constitute an offer for sale of the securities of Hitachi, Ltd. in the United States. The securities have not beenand will not be registered under the U.S. Securities Act of 1933, as amended (the “Securities Act”) and may not be offered or sold in theUnited States absent registration or an exemption from registration under the Securities Act.

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Bonds with Stock Acquisition Rights (Announced on November 16, 2009)(1) Aggregate amount ofthe Bonds(2) Subscription Period(3) Payment Date

(4) Exercise Period(5) Redemption Date

¥100 billion yen
The subscription period will be between the business day
immediately following the Conversion Pricing Date and twobusiness days immediately following the Conversion PricingDate.
The payment date will be on a day in the period between
December 14, 2009 (Mon.) and December 17, 2009 (Thu.),provided, however, that such day is the fifth business day
immediately following the Conversion Pricing Date.
From January 4, 2010 to December 10, 2014
December 12, 2014

About Hitachi, Ltd.
Hitachi, Ltd., (NYSE: HIT / TSE: 6501) is a leading global technological and industrial
company with total revenues of ¥10,000 billion yen ($102.0 billion) for the year ended March
31, 2009. Hitachi’s business is highly diversified, encompassing operations in the following
seven segments: Information & Telecommunication Systems; Electronic Devices; Power &Industrial Systems; Digital Media & Consumer Products; High Functional Materials &Components; Logistics, Services & Others; and Financial Services. For more information on
Hitachi, please visit Hitachi's website at http://www.hitachi.com.
###This press release does not constitute an offer for sale of the securities of Hitachi, Ltd. in the United States. The securities have not been
and will not be registered under the U.S. Securities Act of 1933, as amended (the “Securities Act”) and may not be offered or sold in theUnited States absent registration or an exemption from registration under the Securities Act.

-------------------------------------------------------------------------------------------------------------------Information contained in this news release is current asof the date of the press announcement, but may be subject
to change without prior notice.
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