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KG International (66IV)

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Thursday 26 August, 1999

KG International

Loan Forgiveness

KG INTERNATIONAL TRADE & FINANCE PLC
20 August 1999


                               Loan Forgiveness

In connection with the 'Structural Reform Plan' (hereinafter referred to as the
'Plan') of Kanematsu Corporation (the 'Company') which was approved by a meeting
of the Company's board of directors held on May 21, 1999, the Company has
requested its key financial institutions to forgive their loans to the Company
as a measure to cope with the costs associated with the future implementation
of the Plan, and to maintain the capital of the Company.

In response to the Company's request, all the key financial institutions have
agreed to forgive their loans to the Company (in the amounts shown below) on
condition that the other financial institutions have also agreed to the
financial support package of the Company.  The amount of loan forgiveness totals
Y155 billion.

The Bank of Tokyo-Mitsubishi, Ltd.       Y120 billion
The Daiichi Kangyo Bank, Ltd.            Y 22 billion
The Norinchukin Bank                     Y 13 billion

Total                                    Y155 billion


                                                                                                                                                          

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