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                      July 30, 2004
                      Hitachi and CEOS Provide PON Solution for COLT in Victoria
                      Ballarat, Victoria, July 30, 2004 - Hitachi, Ltd. and CEOS Pty Ltd are excited to announce that The Honourable John Brumby MP, Treasurer, Minister for State and Regional Development and Minister for Innovation in Victoria, Australia has today launched the Collaborative Optical Leading Testbed (COLT), a world class "fibre-to-the-premises" (FTTP) project located in Ballarat, Victoria.

                      Hitachi, Ltd., Hitachi Australia Ltd. and CEOS Pty Ltd have formed a close strategic partnership in 2003 and they have deployed their world class PON product on COLT. The COLT project is a unique collaboration between Hitachi and CEOS together with international leaders and numerous Victorian organisations and is supported by the Victorian State Government with a A$4M grant through the Science, Technology and Innovation (STI) Initiative. COLT is accelerating the deployment of FTTP in Australia that will deliver next generation communications services with enormous social and economic benefits for the community.

                      Hitachi and CEOS are working closely together to deploy their PON solution in Australia and New Zealand. The strategic partnership between Hitachi and CEOS is likely to substantially increase PON sales over the next 5 years with significant flow on benefits for the communications industry throughout Australia and New Zealand.

                      About CEOS Pty Ltd
                      CEOS is a Victorian organisation involved in optical communications and the deployment of PON equipment in the exciting FTTP market in Australia and New Zealand. CEOS is working closely with State and Federal Governments, property developers, utility carriers, service providers, municipal authorities and communities to continue to build the FTTH market. They have world class personnel who have received numerous technical and commercial awards and they have a strong and growing organisation in Australia. CEOS anticipates that it will achieve PON sales revenues of approximately A$100M over the next 5 years.

                      About Hitachi Australia Ltd.
                      Hitachi Australia Ltd., a wholly owned subsidiary of Hitachi, Ltd., Japan, markets and manufacturers a broad range of electronics, computer systems and products, and provides industrial equipment and services throughout Australia and NZ.

                      About Hitachi, Ltd.
                      Hitachi, Ltd. (NYSE:HIT / TSE: 6501), headquartered in Tokyo, Japan, is a leading global electronics company, with approximately 326,000 employees worldwide. Fiscal 2003 (ended March 31, 2004) consolidated sales totaled 8,632.4 billion yen ($81.4 billion).The company offers a wide range of systems, products and services in market sectors, including information systems, electronic devices, power and industrial systems, consumer products, materials and financial services. For more information on Hitachi, please visit the company's Web site at http://www.ahimma.com
                      Information contained in this news release is current as of the date of the press announcement, but may be subject to change without prior notice.
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