Konica Minolta Holdings, Inc.
September 30, 2003

Tokyo (September 30, 2003) --- Konica Minolta Holdings, Inc. announces formation of six business companies and two common function companies through reorganization of it businesses on October 2003.

Since Konica Corporation and Minolta Co., Ltd. integrated management on August 5, 2003, the Konica Minolta Group has expeditiously proceeded with reorganization and integration of its businesses. Through this business reorganization, Konica Minolta Group established solid structure to maximize corporate value by further strengthening market competitiveness and ensuring profitability.

The following is the outline of the major consolidated overseas subsidiaries affiliated with business companies, which will be reorganized and/or change company names.

<Sales and Service Companies>

Area	Country	Form	After Reorganization	Affiliated Business Company	Before Reorganization	Affiliated Business Company
North America	USA	Merger	Konica Minolta Business Solutions U.S.A., Inc.	BT	Konica Business Technologies U.S.A., Inc.	BT
					Minolta Corporation	BT, CA, SE
			Konica Minolta Photo Imaging U.S.A., Inc.	PI, CA, SE
					Konica Photo Imaging U.S.A., Inc.	PI
		Name Change	Konica Minolta Printing Solutions U.S.A., Inc.	BT	Minolta-QMS, Inc.	BT
		Name Change	Konica Minolta Medical Imaging U.S.A., Inc.	MG	Konica Medical Imaging Inc.	MG
		Name Change	Konica Minolta Graphic Imaging U.S.A., Inc.	MG	Konica Graphic Imaging International, Inc.	MG
	Canada	Merger	Konica Minolta Business Solutions (Canada), Ltd.	BT	Konica Business Technologies Canada, Inc.	BT
					Minolta Business Equipment (CANADA) Ltd.	BT
		Merger	Konica Minolta Photo Imaging Canada, Inc.	PI, CA, MG	Konica Canada, Inc.	PI, MG
					Minolta Canada, Inc.	CA
Europe	Germany	Merger	Konica Minolta Business Solutions Europe GmbH* Konica Minolta BusinessSolutions Deutschland GmbH* *Merger planned during 2nd half of FY2003	BT	Konica Business Machines Deutschland GmbH	BT
					Minolta Europe GmbH	BT, CA, SE
			Konica Minolta Photo Imaging Europe GmbH* *Merger planned during 2nd half of FY2003	PI, CA, SE, MG
					Konica Europe GmbH	PI, MG
		Name Change	Konica Minolta Printing Solutions DeutschlandGmbH	BT	Minolta-QMS GmbH	BT
	France	Merger	Konica Minolta Business Solutions France S.A.S.* *Merger planned during 2nd half of FY2003	BT	Konica Bureautique S.A.S.	BT
					Minolta France S.A.S.	BT, CA, SE
			Konica Minolta Photo Imaging France S.A.S.* *Merger planned during 2nd half of FY2003	PI, CA, MG, SE
					Konica France S.A.S.	PI, MG
		Name Change	Konica Minolta Printing Solutions France S.a.r.l	BT	Minolta-QMS France S.a.r.l	BT
	UK	Merger	Konica Minolta Business Solutions (UK) Ltd.	BT	Konica Business Machines (UK) Ltd.	BT
					Minolta (UK) Ltd.	BT, CA, SE
			Konica Minolta Photo Imaging (UK) Ltd.	PI, CA, MG, SE
					Konica UK Ltd.	PI, MG
		Name Change	Konica Minolta Printing Solutions (UK) Ltd	BT	Minolta-QMS (UK) Ltd.	BT
	Italy	Merger	Konica Minolta Business Solutions Italia S.p.A.* *Merger planned during 2nd half of FY2003	BT, SE	Konica Business Machines Italia S.p.A.	BT
					Minolta Italia S.p.A.	BT, SE
	Spain	Merger	Konica Minolta Business Solutions Spain S.A.	BT	Konica Business Machines Deutschland GmbH Spain Branch	BT
					Minolta Spain S.A.	BT
	Austria	Merger	Konica Minolta Business Solutions Austria GmbH	BT	Konica Austria GmbH	PI, MG
					Minolta Austria Gesellschaft m.b.H	BT, CA, SE
			Konica Minolta Photo Imaging Austria GmbH* *Merger planned during 2nd half of FY2003	PI, CA, MG, SE
	Holland	Merger	Konica Minolta Photo Imaging Benelux B.V.	PI, CA, SE	Konica Nederland BV	PI
					Minolta Camera Benelux B.V.	CA, SE
		Name Change	Konica Minolta Printing Solutions Europe B.V.	BT	Minolta-QMS Europe B.V.	BT
Asia/Oceania	Singapore	Merger	Konica Minolta Photo Imaging Asia H.Q. Pte. Ltd.	PI, CA, SE	Konica Asia H.Q. Pte. Ltd.Konica Singapore Pte. Ltd.	PI
					Minolta Singapore (PTE) Ltd.	BT, CA, SE
			Konica Minolta Business Solutions (S) Pte. Ltd.	BT
	Hong Kong	Merger	Konica Minolta Business Solutions (HK) Limited	BT	Minolta Hong Kong Ltd.	BT, CA, SE
			Konica Minolta Photo Imaging (HK) Limited	PI, CA, SE
					Konica Hong Kong Ltd.	PI
	China	Name Change	Konica Minolta Business Solutions (WUHAN) CO., Ltd.	BT	Wuhan Minolta Office Automation Equipments Co., Ltd.	BT
		Merger	Konica Minolta International Trading (SHANGHAI) Co., Ltd.	BT	Konica Business Machines (SHANGHAI) Co., Ltd.	BT
					Minolta International Trading (SHANGHAI)	BT
	Australia	Merger	Konica Minolta Photo Imaging Australia Pty. Ltd.* *Merger planned during 2nd half of FY2003	PI, CA	Konica Holding Australia Pty. LtdKonica Australia Pty. Ltd.	BT, PI
			Konica Minolta Business Solutions Australia Pty. Ltd.	BT
					Minolta Business Equipment Australia Pty. Ltd.	BT

<Manufacturing Companies, and Other than Sales and Service Companies>

Area	Country	Form	After Reorganization	Affiliated Business Company	Before Reorganization	Affiliated Business Company
North America	USA	Merger	Konica Minolta Supplies Manufacturing U.S.A., Inc.* *Merger planned during 2nd half of FY2003	BT	Konica Supplies Manufacturing U.S.A., Inc.	BT
					Minolta Advance Technology, Inc.	BT
		Name Change	Konica Minolta Manufacturing U.S.A., Inc.	PI	Konica Manufacturing U.S.A., Inc.	PI
Europe	France	Name Change	Konica Minolta Supplies Manufacturing France S.A.S.	BT	Minolta Lorraine S.A.S.	BT
Asia	China	Merger	Konica Minolta Business Technologies Manufacturing (HK) Ltd.	BT	Konica Manufacturing (H.K.) Ltd.	BT
					Minolta Industries (HK) Ltd.	BT
		Name Change	Konica Minolta Optical Products (SHANGHAI) Co., Ltd.	CA	Shanghai Minolta Optical Products Co., Ltd.	CA
		Name Change	Konica Minolta Opto (DALIAN) Co., Ltd.	OT	Konica (DALIAN) Co., Ltd.	OT
	Malaysia	Name Change	Konica Minolta Precision Engineering Malaysia Sdn. Bhd.	CA	Minolta Precision Engineering (M) SDN. BHD.	CA

List of the abbreviated affiliated business companies

BT: Konica Minolta Business Technologies, Inc.
OT: Konica Minolta Opto, Inc.
PI: Konica Minolta Photo Imaging, Inc.
CA: Konica Minolta Camera, Inc.
MG: Konica Minolta Medical & Graphic, Inc.
SE: Konica Minolta Sensing, Inc.

Cautionary Statement Regarding Forward-Looking Statements:

This press release includes forward-looking statements that reflect the plans and expectations of Konica Minolta Holdings, Inc. To the extent that statements in this press release do not relate to historical or current facts, they constitute forward-looking statements. The forward-looking statements are based on the current assumptions and beliefs of Konica Minolta Holdings, Inc. in light of the information available to it, and involve known and unknown risks and uncertainties. Potential risks and uncertainties include, but are not limited to, the ability of Konica Minolta Holdings, Inc. to integrate the operations of Konica Corporation and Minolta Co., Ltd. effectively, as well as the factors identified under "Forward-Looking Statements" of the Annual Report 2002 of Konica Corporation and "Disclaimer Regarding Forward-Looking Statements" of the Annual Report 2002 of Minolta Co., Ltd. Such risks, uncertainties and other factors may cause the actual results, performance or financial position of Konica Minolta Holdings, Inc. to differ materially from those expressed or implied in the forward-looking statements. Konica Minolta Holdings, Inc. undertakes no obligation to update publicly any forward-looking statements after the date of this press release.