July 12, 2002

LECIP Corporation
1260-2 Kaminoho, Motosu City
Gifu Prefecture 501-0401 Japan

Affiliate Company Established in California

Expansion of Sales into U.S. Market

LECIP U.S.A. Inc. was newly established to promote the sales of neon transformers in the U.S. market. Previously, our transformers had been distributed in the U.S. for twenty years by an American company under a different brand name. The office has been located in Southern California with the aim of further expanding the share in the U.S. market of LECIP transformers.

In addition we are developing plans for the sale of vehicle fluorescent lamps from this affiliate. We aim to expand both sales as well as the number and type of units that we offer.

Overview
Date of Establishment	June 20, 2002
Founding Capital	$400,000 US
Location	Torrence County, California State, USA
Officers	Tetsuya Karasawa	President, LECIP U.S.A.
	Makoto Sugimoto	President, LECIP Corporation
	Takashi Miura	Senior Managing Director, LECIP Corporation
	Shunkichi Sugimura	Manager, Overseas Sales, LECIP Corporation
Objective	Serve as a base for sales to the U.S. markets for power transformers and automotive-use fluorescent lighting