New Executive Officers and Candidates for Directors

TOKYO (March 25, 2004) – Based on decisions made at Board Meeting held today, Kawasaki Heavy Industries, Ltd. (“the Company”) announced that the following executive officers will be proposed as candidates for election to director positions at the Shareholders’ General Meeting in late June 2004.

Candidates for the Senior Vice Presidents and the Representative Director Positions

Akira Matsuzaki

Chikashi Motoyama

The Company also announced today that effective April 1, 2004, a) the new executive officers will be appointed as follows and b) it will change the responsibilities and titles of the following executive officers.

a) New Executive Officers and New Titles

Masatoshi Ohyama

Deputy General Manager

Corporate Technology Division

Shinichi Tamba

Toshikazu Hayashi

Vice President

Plant Engineering & Infrastructure Company

Shuichi Nose

Vice President

Plant Engineering & Infrastructure Company

Tamio Nakano

Vice President

Gas Turbine & Machinery Company

Masashi Segawa

Vice President

Rolling Stock, Construction Machinery

  & Crushing Plant Company

Hidetsugu Horikawa

Vice President

Aerospace Company

b) New Titles

Masakazu Sato

Senior Manager

Auditing Department

(currently Senior Manager

Finance & Accounting Department)

Yoshimitsu Kurosaki

Vice President

Consumer Products & Machinery Company

(currently Deputy General Manager

Corporate Technology Division)

Shuji Mihara

Senior Manager

General Administration Department

(currently Vice President

Consumer Products & Machinery Company)