Tokyo, Japan - January 29, 2007

Yokogawa Receives Record Plant Control System Order
for Rabigh Integrated Refining and Petrochemical Complex (PETRORabigh)

Yokogawa Electric Corporation has received an order to supply plant control systems for the Rabigh Project, which is constructing one of the world's largest integrated refining and petrochemical complexes in Saudi Arabia. This project is under the management of the Rabigh Refining & Petrochemical Company (PETRORabigh), a joint venture between the Saudi Arabian Oil Company (Saudi Aramco) and Sumitomo Chemical Co., Ltd. (Sumitomo Chemical). Following the informal appointment of Yokogawa as the plant control system supplier for this project, the contract was formally concluded by Yokogawa Engineering Asia Pte. Ltd., a wholly owned Yokogawa subsidiary.

In the Rabigh Project, which is slated for completion in the second half of 2008, PETRORabigh is enhancing an existing oil refinery at Rabigh on the Red Sea coast and constructing a new petrochemical complex that will annually produce 1.3 million tons of ethylene and 2.4 million tons of petrochemical derivatives such as polyethylene and polypropylene. The new complex will be fully integrated with the existing refinery, which is currently undergoing an upgrade to a more sophisticated configuration.

This order for the Rabigh Project is for the upgrade of the control systems at the existing refinery and to provide control systems for the petrochemical plants that are being constructed. The systems include the CENTUM CS3000 R3 Integrated Production Control System, ProSafe-RS Safety Instrumented System, Plant Resource Manager (PRM), DPharp EJA Pressure/Differential Pressure Transmitter, and OmegaLand Integrated Dynamic Simulation Environment. This last product is manufactured by our subsidiary, Omega Simulation Co., Ltd. Delivery is scheduled for September 2007.

This is Yokogawa's largest ever order for a single project, and we believe we were awarded the contract because of Saudi Aramco and Sumitomo Chemical's high evaluation of our product reliability and our proposal of solutions from the user perspective.

We will strive to become the global market's leading industrial automation company by 2010 by continuing to provide users with optimum solutions.