Notice Regarding Share Buyback (Pursuant to Article 211.3.1.2 of the Commercial Code)

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July 29, 2005 No.1067

Notice Regarding Share Buyback
(Pursuant to Article 211.3.1.2 of the Commercial Code)

Tokyo, July 29, 2005 -- Mitsubishi Heavy Industries, Ltd. (the Company) hereby gives notice that at its meeting of the Board of Directors held on July 29, 2005, the Company decided, under the terms prescribed in Article 211.3.1.2 of the Commercial Code of Japan, to carry out a purchase of its own shares, as follows:

1.Purpose of share buyback

The Company will conduct the share buyback to enable flexible execution of its capital policy in response to changing economic conditions.

2.Details

a. Type of shares to be purchased:		Shares of the Company's common stock
b. Total number of shares to be purchased:		No more than 10 million shares
		(ratio to total number of shares issued: 0.3%)
c. Total amount of purchase:		No more than 3 billion yen
d. Schedule of the buyback:		July 29, 2005 to March 31, 2006

Reference:
Total number of treasury stock at June 30, 2005:

a. Total number of shares issued: (excluding treasury stock)		3,355,228,025 shares
b. Total number of treasury stock:		18,419,788 shares

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About Mitsubishi Heavy Industries
Mitsubishi Heavy Industries, Ltd. (MHI), headquartered in Tokyo, Japan, is one of the world's leading heavy machinery manufacturers, with consolidated sales of 2,373 billion yen in fiscal 2003 (year ended March 31, 2004). MHI's diverse lineup of products and services encompasses shipbuilding, steel structures, power plants, chemical plants, steel plants, environmental equipment, industrial and general machinery, aircraft, space rocketry and air-conditioning systems.

For more information, please visit the MHI website (http://www.mhi.co.jp).

PRESS CONTACT:
Hideo Ikuno: h.ikuno@daiya-pr.co.jp
Tel: +813-6716-5277, Fax: +813-6716-5929
Daiya PR (in charge of public relations for Mitsubishi Heavy Industries, Ltd.)