FOR IMMEDIATE RELEASE

Hitachi Announces the Method of Settlement Concerning
Tender Offer for Hitachi Kokusai Electric Shares
Tokyo, January 23, 2009 --- Hitachi, Ltd. (NYSE:HIT / TSE:6501) today announced
that the method of settlement has been confirmed relating to purchase of additionalcommon stocks of Hitachi Kokusai Electric Inc. (TSE:6756) by way of a public tender
offer (hereinafter “Tender Offer”), which was announced on January 14, 2009. Details
are below.
Method of Settlement
1. Name and Location of Head Office of Securities Companies/Banks, etc., inCharge of Settlement
Nomura Securities Co., Ltd.
9-1, Nihonbashi 1-chome, Chuo-ku, Tokyo
2. Commencement Date of Settlement
Monday, March 16, 2009
3. Method of Settlement
Upon expiration of the Tender Offer Period, Hitachi will, without delay, send notice ofTender Offer purchases and other matters to the addresses of tendering shareholders (inthe case of a foreign resident who does not hold a working account with the Tender
Offer Agent, to its standing proxy). Purchases will be made in cash. Payment forpurchased shares will be made by means of remittance, etc., in accordance with theinstructions of tendering shareholders (Fees may be incurred for remitting payment.).

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4. Method of Returning Share Certificates, etc.
In the event that Hitachi does not purchase the excess in whole or in part of tenderedshare certificates, etc.*, Hitachi will return share certificates, etc. by recovering therecord to the status immediately before the share certificates, etc. were tendered, soonafter the commencement date of settlement (if the Tender Offer is withdrawn, the dateof withdrawal). (If share certificates, etc. are to be transferred to an account of atendering shareholder at another securities company, etc., please provide instructions tothat effect.)
Note: Please see Hitachi’s news release on January 14, 2009 titled “Hitachi to Commence Tender Offer
for Hitachi Kokusai Electric Shares” relating to the conditions that it would not purchase theexcess in whole or in part of tendered share certificates, etc.

(Reference) Outline of the Tender Offer
1. Company Name of the Target
Hitachi Kokusai Electric Inc.
2. Duration of the Tender Offer (As Initially Notified)
From Monday, January 26, 2009 to Monday, March 9, 2009 (both inclusive)(30 business days)
3. Price of Tender Offer¥780 per share
4. Planned Number of Share Certificates to Be Purchased
Planned Number of Shares toPlanned Minimum Number ofPlanned Maximum Number ofBe Purchased

Shares to Be Purchased

Shares to Be Purchased

13,406,000 shares---

13,406,000 sharessharesNote: Please see Hitachi’s news release on January 14, 2009 titled “Hitachi to Commence Tender Offer
for Hitachi Kokusai Electric Shares” for the details of this Tender Offer.

- more --3-Cautionary Matters- This announcement is a press release announcing the tender offer and has not been prepared for thepurpose of soliciting an offer to sell stocks. If shareholders wish to make an offer to sell their stocks,
they should first read the Explanatory Document for the tender offer and make their own decision. Thispress release does not constitute, nor form part of, any offer or invitation to buy, sell, exchange orotherwise dispose of, or issue, or any solicitation of any offer to sell or issue, exchange or otherwise
dispose of, buy or subscribe for, any securities. In addition, this press release does not constitute, orform part of, any offer or invitation to sell, or any solicitation of any offer to purchase any securities inany jurisdiction, nor shall it (or any part of it) or the fact of its distribution form the basis of or be relied
on in connection with, any contract therefore.
- The tender offer is not being made, directly or indirectly, in or into the United States, or by the use of
the mails, or by any other means or instrumentality (including, but not limited to, telephones, telexes,
facsimile transmissions, e-mails and internet communications) of interstate or foreign commerce, or by
any facility of a national securities exchange of the United States of America. Accordingly, copies ofoffering documents are not being, and must not be, mailed or otherwise be forwarded, transmitted,
distributed or sent in, into or from the United States of America. No person may apply for this tender
offer by the use of such means or instrumentality or of such facility, or from the United States ofAmerica. Any purported application of the tender offer resulting directly or indirectly from a violationof these restrictions will not be accepted. No securities or other consideration is being solicited in theUnited States and if sent in response by a resident of the United States of America will not be accepted.
- Some countries or regions may impose restrictions on the announcement, issue or distribution of thispress release. In such cases, please take note of such restrictions and comply with them. In countries orregions where the implementation of the tender offer is illegal, even upon receiving this press release,such receipt shall not constitute a solicitation of an offer to sell or an offer to buy stocks relating to thetender offer and shall be deemed a distribution of materials for informative purposes only.

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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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