Announcement on Dissolution of NACHI's Subsidiary

Announcement on Dissolution of NACHI's Subsidiary Nachi-Fujikoshi Corp. dissolved its 100 % owned subsidiary, FUJIKOSHI Misawa Homes Co., Ltd., which specialized in construction and sales of housing, withdrawing completely from housing business. 1.Outline Company name: FUJIKOSHI Misawa Homes Co., Ltd. Head Office: Toyama-city in Toyama Capital: 50 million yen Main Business: May, 1972 Shareholders: 100% owned subsidiary of Nachi-Fujikoshi Corp. 2. Time schedule The liquidation of the company will be competed by August in 2007.