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New CEO to be Appointed at Fujitsu Australia

Fujitsu Australia Limited,Fujitsu New Zealand Limited

Sydney, January 22, 2003

Fujitsu Australia Limited today announced that Mr Philip Kerrigan, the company's Chief Executive Officer, will be leaving Fujitsu, having completed his three-year contracted term of office.

Mr Nori Karasuda, Group Senior Vice President, Asia Pacific Sales Group, Fujitsu Limited, will assume the position of CEO, effective immediately, until a long-term appointment is made. Mr Karasuda has responsibility for the region comprising Australia/New Zealand, the ASEAN countries and India, and is moving to Australia to take up the CEO role in addition to his current responsibilities.

Mr Kerrigan said he had accepted the role at Fujitsu in 1999 on a three-year contract basis. He added that he is pleased with the performance of the company over its first three quarters of this current fiscal year and is optimistic about its future prospects.

"Whilst the past three years have been one of the toughest periods in the industry, my role as CEO of Fujitsu Australia has brought me immense professional and personal satisfaction. It's time though for me to seek other opportunities in what promises to be an exciting new phase for the ICT industry in Australia."

Mr Karasuda, who has been a board member of Fujitsu Australia for 12 years, including a six-year previous assignment in Australia as Finance Director, recognised Mr Kerrigan's contribution saying: "On behalf of Fujitsu Limited and myself, I would like to express our warm appreciation of Phil's achievements as CEO of Fujitsu Australia. I am looking forward to working with the strong management team and organisation that he has built."

Mr Neville Roach, Fujitsu Australia's Chairman said: "Fujitsu Australia thanks Phil for his contribution to the management and restructuring of the business during one of the most difficult periods in the history of the ICT industry both globally and in our region."

"During his term as CEO, Phil has helped transform the company into a strong technology and services organisation, developing new capabilities in the areas of e-business and Internet data centres, in addition to its traditional offerings in telecommunications, outsourcing, multivendor technology, infrastructure services, and information technology products and solutions."

Mr Roach indicated that it is the company's intention to initiate a process for the selection of a new CEO and, in keeping with its normal practice for all senior appointments, it will consider both internal and external candidates for the position.

About Fujitsu Australia

Fujitsu is a global leader in information and communications technology solutions. Throughout Australia and New Zealand, Fujitsu is recognised as a leading systems integrator and services provider. We deliver complex infrastructure systems and services, and business and telecommunications solutions, as well as offering access to a wide network of partners. From the desktop to the data centre; multivendor procurement to prime contracting; consulting to systems integration, Fujitsu has earned a reputation as the single supplier of choice for leading corporate and government organisations. Fujitsu Australia Limited is a wholly owned subsidiary of Fujitsu Limited of Japan.
For more information, please see: www.fujitsu.com/au/

About Fujitsu

Fujitsu is a leading provider of customer-focused IT and communications solutions for the global marketplace. Pace-setting technologies, highly reliable computing and telecommunications platforms, and a worldwide corps of systems and services experts uniquely position Fujitsu to deliver comprehensive solutions that open up infinite possibilities for its customers' success. Headquartered in Tokyo, Fujitsu Limited (TSE:6702) reported consolidated revenues of 4.6 trillion yen (US$38 billion) for the fiscal year ended March 31, 2003.
For more information, please see: www.fujitsu.com

Gillian Lamrock

Phone: Phone: +61 (02) 9776 4799
E-mail: E-mail: gillian.lamrock@fujitsu.com.au
Company:Fujitsu Australia Limited

Date: 22 January, 2003
City: Sydney
Company: Fujitsu Australia Limited, Fujitsu New Zealand Limited