Konica Minolta Holdings, Inc.
Konica Minolta Business Technologies, Inc.
October 2, 2003

Konica Minolta Business Technologies, Inc. (President Yoshikatsu Ota), a specialist in imaging information products such as photocopiers and laser printers and a subsidiary of Konica Minolta Group, has reached an agreement with China's largest PC manufacturer, Legend Group Limited (Lenovo) for a long-term partnership regarding the laser printer business in China. Konica Minolta has begun supplying Legend with two of Minolta's laser printer products, a monochrome and a colour laser model, in an OEM arrangement, thus allowing the Chinese PC giant to market these products under the Lenovo brand name through its China-wide distribution network.

Background/History

Legend is currently the largest IT company in China, boasting a diverse business profile with a product range including PCs, servers, mobile phones, handheld devices, digital products and printers, etc. Legend also offers professional IT consulting services. Lenovo PCs have been best sellers in China since 1997, commanding approximately 30% of the market share in 2002, and also top the best-seller lists in the Asia Pacific region (excluding Japan).

Business negotiations started in the summer of 2002. Konica Minolta Group has seen China as an extremely important market, given its future potential, and found it highly beneficial to partner with Legend, a company that distinguishes itself with aggressive branding and a strong sales network, as a strategic partner in China. Legend, in the meanwhile, had been searching for a long-term partner in the area of laser printers and finally awarded such a partnership to Minolta in view of the reliable development and manufacturing infrastructure of the Japanese company. All these factors together have led to the agreement announced in this release.

Partnership

Since May 2003, Konica Minolta has been supplying a monochrome laser and a colour laser product to Legend on an OEM basis. The target total volumes for the monochrome and colour models are 80,000 units and 10,000 units, respectively. The products are manufactured at production facilities (Shilong Factory) in Guandong province, PRC, and supplied to Legend from there.

While Konica Minolta has already earned a leading position in China's photocopier market, it hopes to gain a similar status in the laser printer market, particularly in the fast-growing colour laser market, by using the Legend-Minolta partnership to further enhance ties with Legend.

Cautionary Statement Regarding Forward-Looking Statements:

This press release includes forward-looking statements that reflect the plans and expectations of Konica Minolta Holdings, Inc. To the extent that statements in this press release do not relate to historical or current facts, they constitute forward-looking statements. The forward-looking statements are based on the current assumptions and beliefs of Konica Minolta Holdings, Inc. in light of the information available to it, and involve known and unknown risks and uncertainties. Potential risks and uncertainties include, but are not limited to, the ability of Konica Minolta Holdings, Inc. to integrate the operations of Konica Corporation and Minolta Co., Ltd. effectively, as well as the factors identified under "Forward-Looking Statements" of the Annual Report 2002 of Konica Corporation and "Disclaimer Regarding Forward-Looking Statements" of the Annual Report 2002 of Minolta Co., Ltd. Such risks, uncertainties and other factors may cause the actual results, performance or financial position of Konica Minolta Holdings, Inc. to differ materially from those expressed or implied in the forward-looking statements. Konica Minolta Holdings, Inc. undertakes no obligation to update publicly any forward-looking statements after the date of this press release.