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Toshiba Corp. (TOS)

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Tuesday 29 June, 2004

Toshiba Corp.

Terms of Convertible Bonds

Toshiba Corporation
29 June 2004


June 29, 2004

Tadashi Okamura

President & Chief Executive Officer

Toshiba Corporation

1-1-1 Shibaura, Minato-ku, Tokyo, Japan

Contact:

Naoto Hasegawa

General Manager

Corporate Communication Office

Phone:81-3-3457-2100


                                          Determination of Terms of Issue of
                                Euro Yen Zero Coupon Convertible Bonds due 2009 and 2011


Toshiba Corporation has determined the terms of issue and certain other matters in respect of the issuance of the Euro
Yen Zero Coupon Convertible Bonds (bonds with stock acquisition rights, tenkanshasaigata shinkabu yoyakuken-tsuki
shasai) due 2009 ('2009 Bonds') and due 2011('2011 Bonds') as follows:



I. 2009 Bonds
(1) Conversion Price                                                             587 yen

(Reference)

Share price and Conversion Premium on Pricing Date (June 29, 2004)
a. Share price (closing price) on the Tokyo Stock Exchange)                       451 yen
b. Conversion Premium


            Conversion Price          -1    X 100                                 30.16%
       Share Price (closing price)

The price per share at which shares shall be acquired upon exercise of the Stock Acquisition rights is referred to as
the 'Conversion Price'.

(2) Amounts to be accounted for as stated capital                                 294 yen per share


II. 2011 Bonds
(1) Conversion Price                                                              542 yen


(Reference)

Share price and Conversion Premium on Pricing Date (June 29, 2004)
a. Share price (closing price) on the Tokyo Stock Exchange)                       451 yen
b. Conversion Premium


            Conversion Price          -1    X 100                                 20.18%
       Share Price (closing price)


The price per share at which shares shall be acquired upon exercise of the Stock Acquisition rights is referred to as
the 'Conversion Price'.


(2) Amounts to be accounted for as stated capital                                 271 yen per share




Note: This press release is intended as general information regarding Toshiba Corporation's issuance of convertible
bonds and shall not be considered an offering of securities. This press release shall not be construed as an offer of
securities for sale in any region including Japan, the United Kingdom, the United States or Canada. The securities may
not be offered or sold in the United States absent registration or an applicable exemption under the Securities Act of
1933. In the event of an offering of securities in the United States, a prospectus in English prepared in accordance
with the Securities Act of 1933 will be used. This transaction does not involve any public offering of securities in
the United States.

This document has been issued by Toshiba Corporation and is the sole responsibility of Toshiba Corporation. It has been
approved solely for the purposes of Section 21 of the Financial Services and Markets Act 2000 by Nomura International
plc of Nomura House, 1 St Martinfs-le-Grand, London EC1A 4NP.

Stabilisation/FSA.




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