MODEC, Inc. Listed on the First Section of Tokyo Stock Exchange

Tokyo, Jul. 1, 2004

We are pleased to announce that MODEC, Inc. stock (TSE: 6269) was transferred to the First Section of the Tokyo Stock Exchange today.

MODEC, Inc. stock was listed on the Second Section of the Tokyo Stock Exchange on July 2, 2003. We could not have achieved this quick section transfer without the support from our shareholders. On behalf of all MODEC group of companies, I would like to express our deepest appreciation to the support.

We will keep up our challenge to increase our shareholders' value. We look forward to your continuing support.

Kenji Yamada
President & CEO

(left) enior Managing Director & CFO, Tokyo Stock Exchange, Inc.
(right) resident & CEO, MODEC, Inc.