Treasury Stock

Maruwa Co Ld
20 July 2004


                                                                   20 July 2004
MARUWA CO., LTD.
3-83 Minamihonjigahara-cho, Owariasahi-city, Aichi-pref. 488-0044 JAPAN

                                   (Translation)

                   Notice concerning the repurchase of shares

MARUWA announced the Board of Directors at the meeting on 20 July 2004 resolved
the method for the repurchase of shares pursuant to the provisions of Article
211-3, Clause 1, No.2 of the Commercial Code of Japan.  Details are as follows;


1. Class of shares to be repurchased          Common stock of MARUWA

2. Total number of shares to be repurchased   147,000 shares

3. Date of repurchase                         21 July 2004

4. Repurchase price                           1,895 yen per share

5. Method of repurchase                       Purchase through the Off-Market 
                                              Transaction System for Treasury
                                              Stock at Nagoya Stock Exchange

6. Publication of repurchase results          To be announced on 21 July 2004 
                                              after the completion of 
                                              transaction.

Note: If the number of shares offered falls short of the scheduled number of
shares to be repurchased, the number of shares offered shall be the number of
shares to be repurchased.


(Reference)

(1)  Details the resolution at the meeting of the Board of Directors held on 
     20 July 2004 concerning the repurchase of shares.

     - Class of shares to be repurchased              Common stock of MARUWA
     - Total number of shares to be repurchased       Up to 147,000 shares
     - Total amount of repurchase price               Up to 278,565,000 yen

(2)  Total number of shares repurchased as of 20 July 2004
     - Total number of shares to be repurchased       -
     - Total amount of repurchase price               -

END.




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