To the Board of Directors and Stockholders of Kobe Steel, Ltd. We have audited デュエルビッツカジノ ログインccompanying non-consolidated balance sheets of Kobe Steel, Ltd. (a Japanese corporation) at March 31, 1999 and 1998, and the related non-consolidated statements of operations, stockholders' equity and cash flows for the years then ended, expressed in Japanese yen. Our audits were made in accordance with generally accepted auditing standards in Japan and, accordingly, included such tests of デュエルビッツカジノ ログインccounting records and such other auditing procedures as we considered necessary in the circumstances. In our opinion, the non-consolidated financial statements referred to above present fairly the non-consolidated financial position of Kobe Steel, Ltd. at March 31, 1999 and 1998 and the non-consolidated results of its operations and cash flows for the years then ended in conformity with generally accepted accounting principles in Japan applied on a consistent basis, except for the change, with which we concur, in the method of accounting for expenses in respect of the development of new products and research into and デュエルビッツカジノ ログインpplication of new technologies as explained in Note 2 (8). We have also reviewed the translation of the statements mentioned above into U.S. dollars on the basis described in Note 1. In our opinion, such statements have been properly translated on such basis. Osaka, Japan June 29, 1999 (Member Firm of Andersen Worldwide SC) Statement on Accounting Principles and Auditing Standards This statement is to remind users that accounting principles and auditing standards and their application in practice may vary among nations and therefore could affect, possibly materially, the reported financial position and results of operations. デュエルビッツカジノ ログインccompanying financial statements are prepared based on accounting principles generally accepted in Japan, and デュエルビッツカジノ ログインuditing standards and their application in practice are those generally accepted in Japan. Accordingly, デュエルビッツカジノ ログインccompanying financial statements and デュエルビッツカジノ ログインuditors' report presented above are for users familiar with Japanese accounting principles, auditing standards and their application in practice.