Directors and Executive Officers to Change

Tokyo, February 21, 2011— Kawasaki Heavy Industries, Ltd. has announced that, based on decisions made at a Board of Directors meeting earlier today, Shuji Mihara, Senior Executive Vice President will be appointed Director effective April 1, 2011, and resign as Director to become an Advisor in late June 2011.

Projected Board of Directors

(effective in late June 2011)

Tadaharu Ohashi

Chairman

Satoshi Hasegawa*

President

Masashi Segawa*

Senior Executive Vice President

Mitsutoshi Takao*

Senior Vice President

Yuichi Asano*

Senior Vice President

Nobumitsu Kambayashi*

Senior Vice President

Kyohei Matsuoka*

Senior Vice President

Hiroshi Takata*

Senior Vice President

Shigeru Murayama*

Senior Vice President

Toshikazu Hayashi*

Senior Vice President

Makoto Sonoda*

Senior Vice President

   *Representative Director

The Company also announced today that the following management changes will become effective April 1, 2011:

New managing executive officers to be appointed

Minoru Makimura

General Manager

Corporate Technology Division

(currently Deputy General Manager

Corporate Technology Division)

Masahiko Hirohata

General Manager

Corporate Planning Division

(currently General Manager

Planning & Control Division

Gas Turbine & Machinery Company)

Yoshinori Kanehana

Vice President

Rolling Stock Company

New executive officers to be appointed

Kazuo Hida

Precision Machinery Company

Makoto Ogasawara

General Manager

Engineering Division

Rolling Stock Company

Retiring executive officers

Toru Yamaguchi

Shuichi Sogabe

Takeshi Watanabe

Sosuke Kinouchi

Shinpei Morita

Seiji Ishii