Brussels, October 23, 2006 - RHJ International SA (EURONEXT: RHJI) confirms that together with Videocon Industries Ltd, it has entered into non-binding Memorandum of Understanding ("the "MOU") dated October 20, 2006 with Woori Bank, acting as the principal bank of the Creditor Financial Institutions Committee (the "CFIC") for Daewoo Electronics Corporation (the "Company" or "DEC") for the proposed purchase of the equity and debt interest of the CFIC in the Company (the "Purchase").

According to the terms of the MOU the proposed aggregate consideration for the purchase of the shares and the claims is approximately seven hundred billion Korean Won (KRW 700,000,000,000), subject to adjustments. The current expectation among RHJI and Videocon Industries Ltd is that each would own approximately one-half of the consortium.

The completion of the transaction is subject to various conditions, among others, the execution of definitive agreement, completion of due diligence, corporate approvals by the buyers, and the approval of the Korean authorities including the Fair Trade Commission.

RHJI intends to have no further comment until a definitive agreement is reached or the negotiations are terminated.

About RHJ International:
RHJ International (EURONEXT: RHJI) is a limited liability company organized under the laws of Belgium, having its registered office at Avenue Louise 326, 1050 Brussels, Belgium. It is a diversified holding company focused on creating long-term value for its shareholders by acquiring and operating businesses in attractive industries in Japan and elsewhere.


For further information please contact:
Investor Relations Contact:
Arnaud Denis
RHJ International
e-mail : adenis@rhji.com