The Tokyo Electric Power Company, Inc. (TEPCO) has been participating 
in two IPP projects in Taiwan --the projects have been conducted by 
Star Energy Power Corporation and Sun Ba Power Corporation. The Chang
Bin Thermal Power Station and the Fong Der Thermal Power Station, 
constructed by the two companies, have come into commercial operation
today.

The Chang Bin Thermal Power Station, built by Star Energy Power
Corporation in Changhua Province in the central part of Taiwan, and 
the Fong Der Thermal Power Station, built by Sun Ba Power Corporation 
in Tainan Province in the southern part of the country, are gas 
combined cycle power plants with capacities of 490 MW and 980 MW 
(with two 490 MW units), respectively.   Construction work for both 
stations was begun in December 2001 and the power stations went into 
commercial operation one month earlier than initially planned. 
Electricity generated by the power station is to be sold fully to 
Taiwan Electric Power Corporation over the next 25-year period.

TEPCO has dispatched a total of nine engineers to these Taiwanese 
electric power companies since the beginning of the construction of 
the power stations. TEPCO's technical expertise -including construction,
operation and maintenance of gas combined cycle facilities -have thus
been utilized in these projects.After the power stations went into 
commercial operation, two TEPCO engineers remain to contribute to 
the effective operation and maintenance of the stations.

TEPCO international B.V., a 100% subsidiary owned by TEPCO, invested
approximately ¥2.2 billion in Star Energy Power Corporation and nearly 
¥4.4 billion in Sun Ba Power Corporation.

At the Tokyo Electric Power Company, in addition to the project in 
Taiwan, we are carrying out thermal power generation projects in 
Vietnam, Australia and the United Arab Emirates. We are also taking 
part in Eurus Energy Holdings, which operates wind power generation
projects in the United States, Europe and Japan.  We will continue to 
focus our utmost efforts on overseas business operations, hoping to 
achieve further growth and advancement. 

Appendix 
 Overview of the Chang Bin and Fong Der IPP Project