June 26, 2008
Fuji Electric FA Components & Systems Co., Ltd.

A Change in Schedule for Establishment of a Joint Venture between Fuji Electric and Schneider Electric

Fuji Electric FA Components & Systems Co., Ltd. ("FCS") (President and Representative Director to be appointed as of July 1, 2008: Naoto Higo) announced today of a change in schedule for creation of a joint venture with Schneider Electric, which was originally planned in July 2008.

Aiming to become a global leading company in the field of electrical distribution and industrial control (ED&C) equipment in Asia, FCS reached a basic agreement with Schneider Electric Industries SAS ("Schneider Electric") in March 2008 with respect to establishment of a joint venture in the field between FCS and Schneider Electric's relevant operating unit in Japan. Since then, discussions have been underway between the both companies toward a definitive agreement. The foundation of the venture was originally scheduled in July 2008. We have decided to change the schedule, however, due to delay in obtaining approval from domestic and international regulatory authorities in relation to antitrust laws. Further details of the formation of a join venture will be announced as soon as they are determined.

Along with this change, FCS will continue to carry out ED&C equipment business after July 1, 2008. Control & Drive Systems and Power Supply Sales Divisions of FCS will be, however, split and merged to Fuji Electric Systems Co., Ltd. ("FES") (President and Representative Director: Mitsunori Shirakura), another core operating companies of the Fuji Electric Group, as of July 1, 2008 in coincide with the Fuji Electric Group's business structure reforme.

Going forward, while proceeding with foundation of the joint venture, FCS will conduct ED&C equipment business as follows;

1.Product portfolio

We will increase a lineup of the products which will meet increasingly demanding needs for environment friendliness, energy-saving, safety and compliance with global standards.

2.Sales regime

Our sales regime will be enhanced to offer optimal solutions to customers by building up consulting capability that enables us to respond appropriately to customers' needs.

3.Development organization

Development functions, which were individually set up by operating site, will be integrated to establish a total management system that covers entire development process from product planning to mass production. This will enable us to market new products in a timely manner.

Company Overview (As of July 1, 2008)

	Company name:	Fuji Electric FA Components & Systems Co., Ltd.
	Line of business:	Development, manufacture and sales of control equipment, power distribution equipment and gas detectors
	Head offices:	5-7, Nihonbashi Odemma-cho, Chuo-ku, Tokyo
	Representative:	Naoto Higo, President and Representative Director
	Capital:	¥10 billion
	Total assets:	¥66.5 billion (projection)
	Product lineup:
	Control equipment Magnetic contactors and starters, manual motor starters, pushbuttons and indicator lights, industrial control relays, time delay relays, FA sensors, AS-Interfaces Power distribution equipment Molded-case circuit breakers, earth-leakage circuit breakers, vacuum circuit breakers (VCBs), high-voltage load-break switches, high-voltage current-limiting fuses, power monitoring equipment, circuit protectors Gas detectors Gas leakage detectors

The following businesses will be transferred to Fuji Electric Systems: 1) development, design, manufacture, sales, maintenance, service, repair, remodeling, and management and operation of drive control equipment, motors and controllers; and 2) sales of power supplies, watt-hour meters and molded-case transformers.