NSK Issue of the 35th Series Domestic Unsecured Straight Bonds

Tokyo, March 3, 2005 -- NSK Ltd. (TSE: 6471) announced today the Company¡¯s decision to issue the 35th series of domestic unsecured straight bonds, with maturity term of 7 years, to provide funds for investment in manufacturing equipment. The details are as follows: NSK Ltd.¡¯s 35th series domestic unsecured bonds (Ranking pari passu solely with other series of debentures or bonds) (1) Total amount of issue 10,000,000,000 yen (2) Denomination of each bond 100,000,000 yen only (3) Form of bonds Bearer bonds with coupons (4) Interest rate 1.28% per annum (5) Issue price 100 yen per 100 yen value (6) Redemption price 100 yen per 100 yen value (7) Application deadline March 3, 2005 (8) Payment deadline March 16, 2005 (9) Interest payment dates Semi-annually on March 16 and September 16 (10) Method of offering General share offering (11) Maturity date March 16, 2012 (12) Collateral These bonds are neither secured by any collateral nor guaranteed, and there are no particular assets reserved for payment of these bonds. (13) Underwriting company Nomura Securities Co., Ltd and Mizuho Securities Co., Ltd. shall serve as co-lead managing Underwriters of this syndication. (14) Fiscal agent Mizuho Corporate Bank, Ltd.