NEC System Technologies, Ltd.
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Business Outlook for the Fiscal Year Ending March 2004


August 8, 2003-NEC System Technologies, Ltd. announced today its earnings forecasts for the first half and the entire year of the fiscal year ending March 31, 2004 as follows.

    1.   Earnings forecasts for the entire fiscal year ending March 2004 (April 1, 2003 - March 31, 2004)

(1) Consolidated forecasts for the entire year


(2) Non-consolidated forecasts for the entire year


    2.   Earnings forecasts for the first half of the fiscal year ending March 2004 (April 1, 2003 - September 30, 2003)

(1) Consolidated forecasts for the first half


(2) Non-consolidated forecasts for the first half


<Notes>
a.Net profit per share for the entire year and the first half of the fiscal year that ended March 2003 were calculated based on the average number of shares outstanding during the period. Net profit per share for the entire year and the first half of the fiscal year ending March 31, 2004 (forecasts) is based on the planned number of shares outstanding at the end of the period, taking into account a scheduled public offering of 3,500,000 shares accompanying the listing.
b.The dividend reckoning date for the public offering of the new issue accompanying the listing is April 1, 2003.
c.As there were no subsidiaries in the entire year and the first half of the fiscal year that ended March 31, 2003, there is no consolidated earnings data for the periods.
d.The company issued 48,900 shares on March 29, 2003 in conjunction with a capital increase through the private placement of shares into the employee stock ownership program and to officers of the company.
e.The company conducted a 20-for-1 stock split on June 12, 2003.

Representative
Toshihiko Takahashi, President
(Code number: 3717)
NEC System Technologies, Ltd.

Inquiries
Hiroshi Minami, Senior Vice President

Caution
This press statement is intended as a general public announcement and is not intended as a solicitation to invest in our stock. When investing, please consult the company prospectus, including corrections and addenda , and exercise your own judgment.


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