KONICA MINOLTA GROUP NEW ORGANIZATION
| KONICA MINOLTA GROUP NEW ORGANIZATION | 
| <August 5, 2003> A new integrated holding company, Konica Minolta Holdings. Inc., will be formed through a stock swap having Konica as a complete parent company and Minolta as a wholly owned subsidiary.  | 
 
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| <October 1, 2003> A new corporate group will be formed by business reorganization within the group companies.  | 
 
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| * Konica Minolta Photo Imaging, Inc. and Konica Minolta Camera, Inc. are planned to be integrated on April 1, 2004.  | 
 

