Purchase price is 1,777 Japanese Yen per Share

TOKYO - DENSO Corporation today announced outcome of its tender offer of common stock shares. This is in accordance with regulations prescribed in Provision of Clause 1 of Article 210 of the law in the commercial code pertaining to the procedures for retiring shares.

Descriptions Tender Offeror Name and Address DENSO Corporation 1-1 Showa-cho, Kariya-shi, Aichi-ken

Tender Offer Details 1. Type of shares: Common stock of the Company 2. Period of Tender Offer: From February 18, 2003 (Tuesday) to March 10, 2003 (Monday) (21 days) 3. Purchase price: 1,777 Japanese Yen per share 4. Number of Shares Tendered       and Shares Repurchased: Number of Shares Tendered: 9,377,000shares (12 Shareholders tendered) Number of Shares Repurchased: 6,700,000 shares(Since the number of shares tendered exceeded the number of planned repurchased shares, tender offer or repurchased shares from each shareholder in proportion to the number of shares tendered)

Settlement and Commencement Date Method