Change of Directors and Auditors

April 28, 2005

Niigata Power Systems Co., Ltd. announced a change of Directors and Auditors as of April 28, 2005

1.       Change of the Right of Representative:

Mr. Ichiro Hashimoto, Representative Director

2.       Change of Board Members and Auditors:

< New Appointment >

Mr. Masahiro Nagasaki, Director

Mr. Toshio Inoue, Auditor

< Change of Executives >

Mr. Mikao Sekine, Chairman & CEO (former President & CEO)

Mr. Ichiro Hashimoto, President & COO (former Managing Director & COO)

< Retirement >

Mr. Shigeru Omura (former Director)

Mr. Hiroshi Nakamura (former Director)

Mr. Keiji Segawa (former Auditor)

New Board Members and Auditors as of April 28, 2005

              Mr. Mikao Sekine, Chairman & CEO

Mr. Ichiro Hashimoto, President & COO

Mr. Goro Baba, Director

Mr. Yoichiro Yokoyama, Director

Mr. Masahiro Nagasaki, Director

Mr. Kazuyoshi Kitamura, Auditor

Mr. Masayuki Ogino, Auditor

Mr. Toshio Inoue, Auditor