The Tokyo Electric Power Company, Inc (TEPCO) announced today that it has signed a 
Memorandum of Understanding (MOU) with Vietnam Oil and Gas Group (Petrovietnam), 
the nation's largest oil and gas company.   TEPCO and Petrovietnam will explore the 
possibility for the joint development of coal-fired power stations in Vietnam where 
Petrovietnam possesses development rights.

Over the years, TEPCO has developed a mutual relationship with Petrovietnam through 
receiving natural gas to the Phu-my 2-2 thermal power station in Vietnam of which 
TEPCO retains partial ownership. TEPCO believes that the MOU with Petrovienam will 
facilitate the overseas business development, considering the possibility of a wide 
range of cooperation between two companies in the electricity sector in Vietnam.

Given that the electricity demand is expected to increase in step with Vietnam's
rapidly growing economy, TEPCO plans to utilize its business experience acquired 
through the investments and consulting services around the globe to cultivate other 
potentially attractive future opportunities in Vietnam.

TEPCO hopes that the signing of this MOU will not only strengthen the relationship 
between the two companies through the discussion on the joint development of coal-fired 
power stations but will also lead to mutual cooperation on various projects spanning 
a wide range of business opportunities in Vietnam.  TEPCO further expects that the 
signing of this MOU will contribute to strengthening the relationship between the two 
countries.

 Appendix: Outline of Vietnam Oil and Gas Group (Petrovietnam)(PDF 7.82KB)