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NASA AND UBE ENTER INTO LICENSE FOR PETI-330; UBE INTRODUCES PETI-330 FOR COMMERCIAL APPLICATIONS: SIGNIFICANT APPLICATIONS FOR AEROSPACE

June 23, 2004

New York, N.Y., UBE America Inc. (UBE AMERICA) and the National Aeronautics and Space Administration (NASA) have entered into a license agreement for NASA's PETI-330. The announcement was made by representatives of NASA, UBE America and UBE Industries during the recent SAMPE meeting in Long Beach.

PETI-330 was developed at NASA-Langley by a team headed by John W. Connell and is covered by US Patent No. 6,359,107, "Composition of and method for making high performance resins for infusion and transfer molding processes." PETI-330 offers cost effective and affordable fabrication of high temperature composite structures for advanced aerospace vehicles. The unique combination of high temperature performance and processing characteristics enables new applications.

Representatives of UBE announced that PETI-330 will be marketed and sold in North America by UBE America under the license from NASA.

Among PETI-330's special characteristics are the following:

These characteristics provide several benefits, including:

A spokesman for UBE stated that "UBE Industries will fully support the efforts of, and will work closely with, UBE America to develop and expand the market for this new resin. UBE continues its research and development work on improvements to PETI-330 and new resins for use in aerospace applications."

The first target for the new resin will be the aerospace industry and particularly the military market. "PETI-330 offers a significant advancement since its use will decrease the weight of aircraft, such as helicopters," according to Kei Tsukahara, the product manager for UBE America.

UBE intends to start making samples available to interested users over the next six months. "At this time we are working on creating an inventory of samples for prospective customers," said Mr. Tsukahara.

Representatives for both UBE Industries and UBE America explained that "as demand develops for this exciting new product, we will ensure that all customer needs and requirements for supply are met. UBE will maintain sufficient inventory of resin to service and supply customers." Further, "UBE will ensure all users of the resin that there will always be sufficient monomer on hand at all times to produce the resin needed for the full life of any project or use."

UBE Industries has a patent on additional types of polyimide using a-BPDA in the United States. It is also filing for patents in Europe and Japan.

UBE AMERICA is a member of the UBE GROUP and is responsible for the development, expansion, marketing and sales of the engineering products made by UBE Industries, Ltd., Japan.

This year marks the 40th Anniversary of the first representative office of UBE Industries in the United States. UBE America was established in 1978 as a New York corporation and maintains its headquarters in New York City; it has other offices in Illinois and Ann Arbor, Michigan. It is the core company of the UBE Group in America; its main business is to act as the exclusive representative for, and distributor of, UBE, in particular the Group's chemical related technologies and products in the Western Hemisphere.
The UBE Group consists of UBE INDUSTRIES, LTD and approximately 200 subsidiaries and affiliates and is organized around three main business segments, including Chemicals. Within this segment are 3 core businesses:

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