RNS Number:0489N
NEC Corporation
02 July 2003



                Announcement as to the Stock Acquisition Rights


At the meeting of the Board of Directors of NEC Corporation (the "Company") held
on June 27, 2003 certain undetermined terms as to "stock acquisition rights"
(rights to subscribe for or acquire shares from the company - shinkabu yoyakuken
-, the "Stock Acquisition Rights") for its stock option plan, the issue of which
was approved at the 165th Annual General Meeting of Shareholders of the Company
on June 19, 2003, were decided, and we hereby inform you as follows:


1. Class and total number of shares to be issued or acquired upon exercise of
   the Stock Acquisition Rights:

   317,000 shares of common stock of the Company


2. Total number of the Stock Acquisition Rights to be issued:

   317 units


3. Persons to whom the Stock Acquisition Rights will be allotted:

Directors (15 persons), corporate officers (41 persons), employee having
important responsibilities equivalent to those of corporate officers (1
person) and executive general managers and employees having important
responsibilities equivalent to those of executive general managers (97
persons) of the Company, and full-time presidents of certain significant
subsidiaries in Japan which are important from the point of view of the
business strategy of the Company (excluding subsidiaries whose shares
are listed on a stock exchange and its affiliated subsidiaries) (32
persons), who will be in office at the issue date of the Stock
Acquisition Rights.


4. Date of issuance of the Stock Acquisition Rights:

Scheduled to be issued on July 10, 2003


5. Issuance terms of certificate of the Stock Acquisition Rights:

The certificate of the Stock Acquisition Rights will be issued only if so
requested by the holder.


6. Amount which will not be accounted for as stated capital out of the issue
price of the shares issued upon exercise of the Stock Acquisition Rights:

Amount which will not be accounted for as stated capital out of the issue price
of the shares issued upon exercise of the Stock Acquisition Rights shall
be less than the amount obtained by multiplying the exercise price of
the Stock Acquisition Rights by 0.5, and any fractions less than one (1)
Japanese yen arising therefrom shall be rounded up to the nearest one
(1) Japanese yen.


7. Base dividends date for reckoning on the shares to be issued upon exercise of
the Stock Acquisition Rights:

The first dividends or interim dividends, pursuant to Article 293-5 of the
Commercial Code of Japan, to be paid on the shares of common stock of
the Company issued upon exercise of the Stock Acquisition Rights will be
paid as if the exercise were made on April 1 where the exercise is made
during the period from April 1 to September 30, or on October 1 where
the exercise is made during the period from October 1 to March 31 of the
ensuing year, as the case may be.


8. Bank to which the exercise price will be paid:

Tokyo Business Department of the Sumitomo Trust Bank and Banking Company,
Limited.



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