Toshiba outside director Watahiki says in statement he opposes Elliott and Farallon director nominees because slate appears to lack diversity, fairness and balance

Toshiba Corporation:

* TOSHIBA EXTERNAL DIRECTOR WATAHIKI SAYS IN STATEMENT: OPPOSED ELLIOTT AND FARALLON NOMINEES BECAUSE THE SLATE SEEMS TO LACK DIVERSITY, EQUITY AND BALANCE

* TOSHIBA EXTERNAL DIRECTOR WATAHIKI SAYS IN STATEMENT: FELT THAT AGREEMENTS WITH ELLIOTT, FARALLON DID NOT AVOID GUARANTEE AVOIDANCE OF CONFLICTS OF INTEREST WHILE FULLY GUARANTEEING INDEPENDENCE AND CONFIDENTIALITY

* TOSHIBA SPOKESPERSON SAYS THE COMPANY BELIEVES INVITING MAJOR SHAREHOLDERS TO THE BOARD IS BENEFICIAL

* TOSHIBA EXTERNAL DIRECTOR WATAHIKI SAYS SHE DOESN’T BELIEVE THERE IS A CRACK IN THE BOARD

* TOSHIBA EXTERNAL DIRECTOR WATAHIKI SAYS HAS BOARD APPROVAL TO HOLD MEDIA BRIEFING ON MONDAY

* TOSHIBA OUTSIDE DIRECTOR WATAHIKI SAYS ADDING SHAREHOLDER DIRECTORS MAKES THE BOARD TOO FOCUSED ON ACTIVIST SHAREHOLDERS

* TOSHIBA EXTERNAL DIRECTOR WATAHIKI SAYS VERY CONCERNED TO HAVE TWO DIRECTORS LINKED TO FARALLON

* TOSHIBA OUTSIDE DIRECTOR WATAHIKI SAYS HE CAN’T ACCEPT CLAUSE THAT PROMISES TWO SHAREHOLDER DIRECTORS TO BE APPOINTED AS SPECIAL COMMITTEE MEMBERS Source text for Eikon: Additional company coverage:

Shirlene J. Manley