ITOCHU CHAIRMAN MUROFUSHI TO ADDRESS BUSINESS & GOVERNMENT LEADERS AT CONFERENCE IN KUALA LUMPUR

HONOLULU (March 27, 2002) — The Chairman of Japan’s ITOCHU Corporation Minoru Murofushi will speak at the Pacific Basin Economic Council’s (PBEC) 35th International General Meeting (IGM) on Tuesday, May 7, 2002.

The Honorable Dato’ Seri Dr. Mahathir bin Mohamad, Prime Minister of Malaysia, and Her Excellency Gloria Macapagal Arroyo, President of the Philippines, will also be speaking at the conference.

Leading business executives, heads of government, and governmental ministers from throughout Asia, the Pacific, and the Americas will gather at the IGM in Kuala Lumpur to discuss international economic and trade issues. The conference — focusing on the theme of “Striving for Growth in a Challenging Environment” — will be held May 3-7.

Mr. Murofushi will be speaking in the closing plenary “Rebuilding Confidence: The Challenge for Business.” The session will focus on the task of rebuilding international investor and consumer confidence after September 11th and the role of upper management in preparing their organizations for sustained recovery and long-term economic growth.

Currently serving as Chairman, Mr. Murofushi has been with ITOCHU Corp. since 1956. During that time he has held many respected positions, such as President and CEO from 1990 to 1998. He is known for his active role in the promotion of foreign direct investment trade and liberalization throughout Asia, Latin America, and Russia. ITOCHU Corp. is a general trading company specializing in textiles, machinery, aerospace technology, electronics, metals, general merchandise, oil, and petroleum products. They have been consistently ranked as one of the largest companies in Asia by Asia Week magazine.

An ambitious conference agenda has been developed for the Kuala Lumpur IGM, tackling issues such as: the economic aspects of the war on terrorism, new developments in trade and investment liberalization; as well as industry overviews including the biotechnology and financial markets. There will also be breakfast chats with global personalities – ranging from business leaders to media experts to artists – and private, off-the-record Ministerial Roundtables are planned.

PBEC’s International General Meeting is an opportunity for the region’s foremost corporate executives to gather with other international leaders to discuss, in a frank and intimate setting, the key issues in the regional economy, and to publicly issue policy recommendations and statements directed toward such organizations as the WTO and the Asia Pacific Economic Cooperation (APEC). The IGM typically includes major addresses given by heads of government, governmental ministers, leaders of prominent international organizations, and senior executives of some of the largest corporations in the region.

ABOUT PBEC:

• PBEC is an international association of senior business leaders representing approximately 1,000 major corporations in 20 economies around the Pacific, which account for more than US $4 trillion in global sales and employ more than 10 million people.
• PBEC is a forum through which business leaders create new business relationships, exchange views with government officials, and produce recommendations on key business issues.
• The unprecedented scope of PBEC’s membership constitutes a broad and balanced reservoir of international business knowledge, unmatched in credibility and expertise. PBEC is the independent voice of business in the Pacific.

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Contact:
Steve Olson
Pacific Basin Economic Council
900 Fort Street, Suite 1080
Honolulu, HI 96813 USA
Tel.: +1-808-521-9044/Fax: +1-808-521-8530
E-Mail: steve@pbec.org
Web: http://www.pbec.org