Konica Minolta Holdings, Inc.
Minolta Co., Ltd.
August 20, 2003

Tokyo, Osaka (August 20, 2003) --- Minolta Co., Ltd. (Yoshikatsu Ota, president) of Konica Minolta Group is pleased to announce the establishment of Minolta Consulting (Shenzhen) Company Limited on August 8, 2003. The company was established to provide parts procurement services and design technology support to its image information products manufacturing plant in China.

Minolta has its manufacturing base for image information products in Shilong, China. Based in Hong Kong, Minolta Industries (HK) Limited has been providing parts procurement services to the plant and assistance in import processing in the Shanghai area, from its representative offices of Shenzhen and Shanghai.

Business operations of the representative offices, however, have been limited by Chinese regulations to liaising with local partners and performing market research. Minolta Consulting (Shenzhen) Company was founded because Minolta determined it was necessary to establish a corporate organization in China to strengthen local procurement functions, expand operational areas for technical assistance, and secure/establish a solid foundation for a local technical workforce. The new company will operate as an independently capitalized service organization that primarily provides assistance for parts procurement while Minolta Industries (HK) Limited will continue, as in the past, to handle settlements involved in the procurement.

The new company will start full-scale operations in October 2003. Minolta Co., Ltd. is firmly determined to improve production efficiency, by ensuring that the new business is fully capable in the field of image information products, the company's largest business foothold -- thus further strengthening its financial standing while offering image information products, essential to the field of imaging.

[Overview of the New Company]