Corporate Information

Press Release (Aug 08,2003)
Commencement of "Tarong North Power Station Project" in Australia
August 8, 2003

The Tokyo Electric Power Company, Inc.
Mitsui & Co., Ltd.

Tokyo - Today, The Tokyo Electric Power Company, Inc. ("TEPCO") and 
Mitsui & Co., Ltd. ("Mitsui") purchased the interests (assets and 
project contracts etc.) of the Tarong North Power Station Project, 
and started the operation of its Tarong North Power Station 
(coal-fired, 450MW).  TEPCO, jointly with Mitsui, signed an agreement 
with Tarong Energy Corporation Limited ("Tarong Energy"), a Queensland 
state-owned power generating company in August 2002, in order to take 
part in the Tarong North Power Station Project in Queensland, Australia.

In the project, Tarong Energy launched construction of Tarong North 
Power Station in January 2000, located 180km northwest of Brisbane, 
Queensland, and completed the construction today. TM Energy (Australia) 
Pty Ltd ("TM Energy"), which was jointly established by Tokyo Electric 
Power Company International B.V. ("TEPCO International", a subsidiary 
of TEPCO) and Mitsui Power Investment Pty Limited ("Mitsui Power 
Investment", a subsidiary of Mitsui), acquired 50% interests. At the 
same time, TM Energy and TN Power Pty Ltd ("TN Power", a project company 
of Tarong Energy) established "Tarong North Power Station Joint Venture" 
and launched the sale of all the generated power to Tarong Energy.

TEPCO will fully utilize its management resources such as knowledge of 
operation and maintenance of power plants that it has long accumulated 
in Japan, and will continue to promote this project by sending its 
engineering staff. TEPCO has developed five overseas power generation 
projects in Taiwan, Vietnam, UAE and so on, and will also actively work 
on overseas projects and seek for further growth and development in the 
future by finding new business opportunities abroad.

Mitsui believes that it was able to carry out its duties by utilizing 
its high level of skill in collecting and analyzing market information 
accumulated over many years of experience, in addition to its extensive 
experience in power plant construction and energy resource development 
in overseas locations such as Australia. In the future, Mitsui will 
manage this project to the best of its ability by adequately applying 
the knowledge it has obtained from executing numerous past investment 


1. Outline of Tarong North Power Station Project
  (1) Name of Station: Tarong North Power Station
  (2) Location: About 180 km northwest of Brisbane, Queensland, 
  (3) Total Project Cost: Approx. 50 billion yen
  (4) Interests of Tarong North Power Plant:
      TN Power: 50% (100% subsidiary of Tarong Energy)
      TM Energy: 50%
  (5) Output: 450MW
  (6) Type of Generation: Coal-fired 
                          (Supercritical Steam Condition)
  (7) Date of Commercial Operation: August 2003
  (8) Term of Joint Venture: 30 years 
                             (Term of Electricity Agreement with 
                              Tarong Energy is for 20 years)
  (9) Off-taker: Tarong Energy

2. Outline of Tarong Energy
   Tarong Energy was established by being separated from a Queensland 
   state-owned power generating company in July 1997. It owns Tarong 
   coal-fired Power Station(four units, 1400MW) and Wivenhow pumped 
   storage hydro-electric Power Station (two units, 500MW). Its head 
   office is located in Brisbane.

3. Outline of TM Energy
   TM Energy is a project company which TEPCO International, a 100% 
   subsidiary of TEPCO, and Mitsui Power Investment, a subsidiary of 
   Mitsui, jointly established in February 2002 in order to take part 
   in the Tarong North Power Station Project. TEPCO International 
   holds 70% of the shares (Capital investment is approximately 
   4.5 billion yen) and Mitsui Power Investment holds 30% (Capital 
   investment is approx. 2 billion yen). TM Energy is located 
   in Brisbane. 
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