May 11,2000
FOR NEWS RELEASE


NTT and MC ANNOUCE THE SALE OF U.S SUBSIDIARY,
PHOTONIC INTEGRATION RESEARCH INC. (PIRI)


Nippon Telegraph and Telephone Corporation (NTT), Mitsubishi Corporation (MC), Mitsubishi International Corporation (MIC) and Battelle (Memorial Institution), the sole equity shareholders of Photonic Integration Research, Inc. (PIRI), a privately owned company, have agreed to the sale of all PIRI shares to SDL Inc. in exchange for SDL stock. An agreement was signed on May 10, 2000, New York time.


  1. Description of PIRI
(a) Date of Foundation   July, 1987
(b) Chief Officer Tadashi Miyashita
(c) Location Columbus, Ohio
(d) Capital 8.1M dollar
(e) Shareholders Equity  
(Paid-in-capital)  
NTT 49%
MC 31%
MIC 10%
Battelle    10%
(f) Business R&D, manufacturing and sale of optical waveguide products and related components/products
(g) Employees 133

  2.
Total Sales Price
US 1.49 billion dollar in SDL stock

  3.
Closing Date
June, 2000

  4.
Miscellaneous
NTT will receive US 310 million dollar in SDL stock as a royalty fee for technology license.



- Attachment



Contacts:
Masaki Nakashima, Senior Manager
Naoki Shibutani, Manager
Department I
Nippon Telegraph and Telephone Corporation
(03)5205-5107

Yasuhito Hirota
Press Relations Office
Corporate Communications Dept.
Mitsubishi Corporation
(03)3210-2175



News Release Mark
NTT NEWS RELEASE