*Comment of Mr. Shinsaku Notsu, President of Pioneer High-Tech (Dongguan) Co. Ltd., on investment in Dongguan:

        In July 2001, Pioneer High-Tech (Dongguan) Co. Ltd. was established as a subsidiary of Pioneer Co. Ltd. in Baiye Industrial Zone, Liaobu Town, Dongguan City, a place with a favorable investment environment in terms of labor force, resources and infrastructure. We will continue to take advantage of the favorable conditions and produce more high-tech products with highly sophisticated, highly precise and most advanced technology, so as to meet the needs of our customers.