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  4. Memorandum of Understanding for Comprehensive Strategic Partnership Signed with China's Largest Food-Related Company COFCO
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News Releases 2008

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Memorandum of Understanding for Comprehensive Strategic Partnership Signed with China's Largest Food-Related Company COFCO

August 4, 2008

ITOCHU Corporation and ITOCHU (China) Holding Co., Ltd. (Beijing, China; Chairman: Nobuo Kuwayama; hereinafter &ICN;& and hereinafter collectively with ITOCHU Corporation &ITOCHU&) announce that ITOCHU has executed a memorandum of understanding for a comprehensive strategic partnership with COFCO Limited (Beijing, China; Chairman: Ning Gaoning; hereinafter &COFCO&). COFCO is China's largest company operating in the food sector.

1. Purpose of Executing the Memorandum of Understanding

ITOCHU and COFCO have agreed to develop a comprehensive strategic partnership with the aim of the mutual development and prosperity of ITOCHU and its affiliates (hereinafter collectively, “the ITOCHU Group”) and COFCO and its affiliates (hereinafter collectively, “the COFCO Group”).

2. Outline of the Comprehensive Strategic Partnership

For the objective mentioned above, ITOCHU and COFCO will be discussing and studying specific details of the business partnership in a broad array of fields, including the manufacturing and processing of food products, distribution, trading (import, export and tripartite trading) and overall matters about food, such as securing food resources through the COFCO Group and the ITOCHU Group. Tangible actions under the partnership, which may include the exchange of business information owned by both parties and the mutual use of management resources, including personal exchange, will be carried out after a separate agreement is executed.

3. COFCO's Corporate Profile

Company Name
COFCO Limited
Business Overview of the COFCO Group
Businesses include trading (import and export) and the processing of agricultural products, real estate and finance.
COFCO is one of China's leading state-owned companies and the largest company engaged in food trading and in manufacturing and processing of food products in China. It principally handles rice, wheat, corn (maize), oil and fat and other agricultural products. The main manufactured and processed food products it deals with include rice, flour, snacks, canned food and beverages.
Head Office Location
Beijing, China
Year of Foundation
1952
Representative
Ning Gaoning, Chairman
Total Assets
$16,552MIL

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