June 26, 2002
The Tokyo Electric Power Company, Incorporated (TEPCO)


Tokyo - Tomen Corporation (8003) and the Tokyo Electric Power Company, Incorporated 
(9501 TEPCO) jointly announced today that, in September 2002, TEPCO will invest in Tomen 
Power Holdings Corporation (TPHC). Tomen and TEPCO concluded the agreement today. 
TPHC is Tomen's wholly-owned subsidiary and operates its global clean energy wind power 
projects. Tomen is the world's leading wind power developer, while TEPCO is Japan's largest 
electric utility.

TEPCO will purchase part of Tomen's holding shares of TPHC as well as new shares, which 
TPHC will issue in the form of an allotment. This will make TEPCO a 50% shareholder of 
TPHC. The two companies will sign a final contract by the end of August 2002 that will 
include the joint venture's form of investment, company name and board membership.

In November 2001, Tomen spun off part of its Power & Utility Projects Division and created 
TPHC, integrating Tomen's worldwide subsidiaries that operate their clean energy power 
generation projects. Tomen's strategic partner brings complementary expertise, resources and 
capabilities that will further enhance its worldwide wind power generation business. 

TPHC has established the leading position among the world's wind power developers. It 
operates wind power generation projects in the United States, England, Spain, Italy and Japan, 
with a total electric generation capacity of 538 thousand kilowatts of current operating 
projects, and a total electric generation capacity of 3,074 thousand kilowatts including projects 
under construction and development. 

TEPCO operates its own wind power generation business on Hachijojima Island. It also 
actively promotes the importance of natural and renewable energy through purchasing surplus 
electric power from renewable energy sources including solar electric power generation plants, 
and supports the Green Electric Power Foundation, among other activities.

TEPCO's investment in TPHC enables it to share assets and expertise in wind power projects 
not only in Japan but also in the United States and Europe. At the same time, TEPCO plans to 
enter into the global wind power generation business utilizing its accumulated expertise such as 
transmission line technologies, operation and maintenance of power generation facilities.       


Reference:
Tomen Power Holdings Corporation (TPHC), as of March 31, 2002
Representative:      Mr. Yoshimasa Kondo, President and Representative Director 
Date established:     November 1st, 2001
Line of business:     power generation business by renewable energy including wind power
Number of employees: 40 employees
Amount of capital:   300 million yen
Shareholder:        Tomen Corporation (100%)

Schedule:
On June 26, 2002:  Tomen and TEPCO's boards of directors approved and signed the 
agreement. 
August 2002:      The two companies shall sign the final contract.
September 2002:   Closing for payment of capital to form the joint venture company.