Financial Forecast Revision for FY2008

July 29, 2008
Kyushu Electric Power Company Inc.

Financial Forecast Revision for FY2008

Kyushu Electric Power Company Inc., has revised the financial forecasts for FY2008 (from April 1st, 2008 to March 31st, 2009) announced on April 30th, 2008 based on the recent business circumstances and its performance.

1. Revised Forecast for financial results for FY2008
[Consolidated]
(1) Revised Forecast for Interim Financial Results (April 1st, 2008-September 30th, 2008)

(million yen)

	Operating Revenues	Operating Income	Ordinary Income	Net Income	EPS
The Original Forecast (A)	750,000	46,000	30,000	18,000	\38.04
The Revised Forecast (B)	750,000	27,000	11,000	10,000	\21.13
Changes in Amount (B–A)	―	19,000	19,000	8,000	16.91
Rate of Changes (%)	―	41.3	63.3	44.4	44.5
FY2007 Actual Results	732,763	75,511	61,447	37,513	\79.28

(2) Revised Forecast for Full-year Financial Results (April 1st, 2008-March 31st, 2009)

(million yen)

	Operating Revenues	Operating Income	Ordinary Income	Net Income	EPS
The Original Forecast (A)	1,523,000	82,000	51,000	30,000	\63.40
The Revised Forecast (B)	1,535,000	32,000	0	0	\0.00
Changes in Amount (B–A)	12,000	50,000	51,000	30,000	63.40
Rate of Changes (%)	0.8	61.0	100.0	100.0	100.0
FY2007 Actual Results	1,482,351	105,540	72,372	41,726	\88.19

[Non-consolidated]
(1) Revised Forecast for Interim financial results (April 1st, 2008-September 30th, 2008)

(million yen)

	Operating Revenues	Operating Income	Ordinary Income	Net Income	EPS
The Original Forecast (A)	710,000	45,500	29,000	17,000	\35.90
The Revised Forecast (B)	710,000	26,500	10,000	9,000	\19.01
Changes in Amount (B–A)	―	19,000	19,000	8,000	16.89
Rate of Changes (%)	―	41.8	65.5	47.1	47.0
FY2005 Actual Results	691,688	70,761	55,185	34,002	\71.81

(2) Revised Forecast for the financial results for the Year Ending March 31, 2009
(April 1st, 2008-March 31st, 2009)

(million yen)

	Operating Revenues	Operating Income	Ordinary Income	Net Income	EPS
The Original Forecast (A)	1,437,000	75,000	40,000	23,000	\48.58
The Revised Forecast (B)	1,449,000	25,000	10,000	6,000	\12.67
Changes in Amount (B–A)	12,000	50,000	50,000	29,000	61.25
Rate of Changes (%)	0.8	66.7	―	―	―
FY2007 Actual Results	1,392,059	93,962	60,070	35,683	\75.37

2. The Reason for the Revision
Kyushu Electric Power has revised the financial forecasts as above as we expect an increase in fuel cost due to soaring fuel prices and will revise electricity rates on September 1st, 2008.
[Basis for Non-consolidated Forecast]

(100million kWh,＄/b. \/$)

	The Original Forecast (A)	The Revised Forecast(B)	Changes in Amount (B-A)
Electricity Sales	<440> 879	<440 >879	<―>―
Crude Oil (CIF) Price	<93> 93	<120> 125	<27> 32
Currency Exchange Rate	<105> 105	<105> 105	<―> ―

Note: Numbers in parentheses are for interim results

Disclaimer
Statements made herein regarding Kyushu Electric Power Company's forecasts are based on management's assumptions and beliefs in light of information currently available. Owing to various uncertainties, actual results may differ materially from these statements.