Listing of NEC's ADRs on NASDAQ

On February 22, NEC announced that it had been notified by the NASDAQ Stock Market LLC that the NASDAQ Listing Qualifications Panel had granted NEC's request for continued listing of its American depositary receipts ("ADRs") on the NASDAQ Global Select Market on the condition that NEC file its Form 20-F for the fiscal year ended March 31, 2006 (the "2006 Form 20-F") with the Securities and Exchange Commission on or before April 2, 2007.

NEC is currently undertaking to complete the analysis necessary to prepare the financial statements for filing its 2006 Form 20-F with the SEC. However, NEC expects that it is unlikely that it will be able to file the 2006 Form 20-F by April 2, 2007. Under NASDAQ Marketplace Rule 4807(a), NEC has the right to seek review of the Panel's decision by the NASDAQ Listing and Hearing Review Council (the "Council") by making a written request to the Council within 15 days of the Panel's decision (in this case by March 8).

Accordingly, on March 7, 2007 (Eastern Standard Time), NEC requested that the Panel's decision be reviewed and that any future Panel decision be suspended pending further action by the Council. NEC requested the review by the Council to prevent the Panel from delisting NEC's ADRs in the event that NEC cannot file the 2006 Form 20-F by April 2, 2007.

The Council may affirm, modify, or reverse the Panel's decision or remand the matter for further consideration. NEC's request, however, does not suspend the Panel's decision unless the Council determines to issue such a suspension, which it is not obligated to do. Therefore, at this time, NEC cannot guarantee that its ADRs will continue to be listed on the NASDAQ Global Select Market after April 2, 2007 - NEC.