KONSEI USA INC. TO LOCATE IN LARUE COUNTY

Kentucky Facility Is First North American Operation

Frankfort, Ky. - Governor Ernie Fletcher and Economic Development Cabinet Secretary Gene Strong today welcomed the announcement by Konsei USA Inc., a wholly owned subsidiary company of Kondoh Seisakusho Co., Ltd. of Japan, that the company will build its first North American manufacturing operation in Kentucky.

The company will construct a new $1.5 million facility on 10 acres in LaRue County and plans to hire 20 new employees within two years of project completion.  Konsei USA manufactures automotive parts, factory automation systems and pneumatic air grippers.

"The fact that Kondoh Seisakusho Co., Ltd. of Japan chose to build its first North American plant in Kentucky is a tremendous honor," said Governor Fletcher.  "Konsei USA Inc. will serve as a wonderful economic opportunity for Western Kentucky workers and their families."

"We at Konsei are very excited about our new initiative in Hodgenville," stated Yasumasa Kondo, President of Konsei USA Inc.  "One of the reasons we chose Hodgenville was because of the kindness and enthusiasm that state and local officials showed to Konsei during the selection process.  This location will allow us easy access to our customer base and provide the type of workforce we are looking for to help our company continue to grow."

"We are pleased that Konsei USA Inc. has chosen Hodgenville/LaRue County for its first U.S. location," stated Ron Sanders, President of the LaRue County Industrial Foundation.  "The addition of Konsei to our industrial park completes the first phase of the LaRue County Industrial Foundation's long-term plan to create employment opportunities for the citizens of LaRue County."

Konsei USA Inc. has received preliminary approval from the Kentucky Economic Development Finance Authority (KEDFA) for tax credits under the Kentucky Industrial Development Act (KIDA), a program aimed at increasing manufacturing employment in the Commonwealth.

The Kentucky Cabinet for Economic Development is the primary state agency in Kentucky responsible for creating new jobs and new investment in the state. New business investment in Kentucky in 2003 totaled more than $1.56 billion with the creation of just over 13,800 new jobs. Information on available development sites, workforce training, incentive programs, community profiles, small business development and other resources is available at http://www.thinkkentucky.com/.