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Press Release 2008

Chubu Electric Power Issuing 486th Corporate Bonds(Domestic Corporate Straight Bonds)

August 20, 2008

Chubu Electric Power Co., Inc.

Chubu Electric has decided to issue 10-year domestic corporate straight bonds (486th issue, worth 20 billion yen) and began accepting applications today.

The following is an overview of issue conditions.



1.  Amount issued: 20 billion yen

2.  Denominations: 1 million yen    (One denomination only)

3.  Coupon rate: 1.691% annually

4.  Cost (issue value): 100 yen per par value of 100 yen

5.  Subscriber yield: 1.691% annually

6.  Period (payback date): 10 years (August 24, 2018)

7.  Payback schedule: Lump-sum payment at end of period

8.  Interest disbursements: February 25 and August 25 of each year

9.  Payment receipt date (issue date): August 29, 2008

10. Subscriptions accepted from: August 20, 2008

11. Subscription procedure: Public offering

12. Purpose of funds: Equipment funding, payback of loans, payback of corporate bonds

13. Security: Ordinary security under Electric Utility Law

14. Bond administrators: Sumitomo Mitsui Banking Corporation (Lead), Mizuho Corporate Bank, Ltd.,      and Bank of Tokyo-Mitsubishi UFJ, Ltd.

15. Underwriters: An underwriting group of eight companies, jointly managed by Daiwa Securities SMBC      Co. Ltd., Mitsubishi UFJ Securities Co., Ltd., and JPMorgan Chase & Co.

16. Transfer organization: Japan Securities Depository Center, Inc.