Directors and Executive Officers to Change

TOKYO (February 27, 2003) - Kawasaki Heavy Industries, Ltd. (the "Company") today announced that effective April 1, 2003, the following representative directors will be appointed the following positions based on decisions made at the Board Meeting held on February 26, 2003.

Takehiko Saeki

Executive Vice President *

(currently Managing Director *)

Yoshiro Inoue, Director

(currently Executive Vice President *)

Kengo Yamashita, Director

(currently Managing Director *)

  * Representative Director

Yoshiro Inoue and Kengo Yamashita will be appointed a Senior Strategic Advisor and an Advisor, respectively, in late June 2003.

The Company also announced today that it will change the responsibilities and titles of the following directors and executive officers effective April 1, 2003 as follows.

Takehiko Saeki

Executive Vice President

 over all administration of production

 (currently Managing Director

President

Rolling Stock, Construction Machinery

  & Crushing Plant Company)

Tadaharu Ohashi

Executive Officer

President

Rolling Stock, Construction Machinery

   & Crushing Plant Company

  (currently Vice President

Rolling Stock, Construction Machinery

   & Crushing Plant Company)

Takashi Yoshino

Executive Officer

President

Gas Turbine & Machinery Company

(currently Vice President

Gas Turbine & Machinery Company)