• JFE Steel Corporation

TOKYO — JFE Steel Corporation announced today the relocation of its Australian office from Sydney, New South Wales to Brisbane, Queensland effective April 1, 2008.

The Sydney Office was opened in October 2004 in conjunction with the inauguration of an iron ore mining joint venture to procure iron ore in Australia and to provide long-term stability for the company’s iron ore sourcing activity. The Sydney Office did indeed serve to strengthen raw materials procurement in Australia, which today accounts for 70% of the company’s iron ore and coking coal supplies.

In June 2005, the company acquired interests in two Australian coking coal mining joint ventures to further stabilize long-term sourcing of high quality coking coal, and continues to work actively in this area by identifying potential new coal resource investments.

Queensland, Australia is well known as the major global source of high quality coking coal and is a center for coking coal exports to Japan. Many of its coal suppliers are headquartered in the capital city of Brisbane, which has become the center of the coal business.

By moving the office to downtown Brisbane, which provides convenient access to coal suppliers, infrastructure providers and other players in the coal business, JFE Steel will be able to strengthen its relationships in this sector. The company is committed to continuing endeavors to stabilize its supplies of raw materials from Australia and to identify new raw materials investments in the country.