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April 22, 2005

Hitachi Capital Corporation

Hitachi Capital to Repurchase Treasury Stock

(Under Article 211-3, Section 1-2 of the Japanese Commercial Code)

Hitachi Capital Corporation wishes to serve notice that at a meeting held today, the Board of Directors resolved to repurchase treasury stock pursuant to Article 211-3, Section 1-2 of the Japanese Commercial Code, as detailed below.

1.Rationale for treasury stock repurchase

[1] To adjust the number of shares issued and outstanding to a level commensurate with the scale of Hitachi Capital's businesses.

[2] To help improve shareholder value.

2.Details of treasury stock repurchase

(1) Types of shares to be repurchased Hitachi Capital common stock
(2) Total number of shares to be repurchased Up to 2.3 million shares
(3) Total value of shares to be repurchased Up to ¥4,830 million
(4) Repurchase period April 27 to June 21, 2005

Reference:

Total number of shares issued and outstanding
The total number of shares issued and outstanding as of April 22, 2005 is as follows:
Total number of shares issued and outstanding: 124,826,552