Press Release


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November 18, 2004



Determination of Final Terms of Stock Acquisition Rights
for the Purpose of Granting Stock Options

Sony Corporation (the "Corporation") announced today that the final terms of Common Stock Acquisition Rights and Subsidiary Tracking Stock Acquisition Rights for the purpose of granting stock options, which issues were resolved at the meeting of its Board of Directors held on October 28, 2004, have been determined as set forth below.

I. Common Stock Acquisition Rights

1.Amount to be paid in per share to be issued or transferred upon exercise of Common Stock Acquisition Rights:

3,782 yen

2.Aggregate amount of issue price of shares to be issued upon exercise of Common Stock Acquisition Rights:

5,386,324,400 yen

3. Portion of issue price of shares to be issued upon exercise of Common Stock Acquisition Rights which will be accounted for as stated capital:

1,891 yen per share

II. Subsidiary Tracking Stock Acquisition Rights

1. Amount to be paid in per share to be issued or transferred upon exercise of Subsidiary Tracking Stock Acquisition Rights:

1,259 yen

2. Aggregate amount of issue price of shares to be issued upon exercise of Subsidiary Tracking Stock Acquisition Rights:

57,284,500 yen

3. Portion of issue price of shares to be issued upon exercise of Subsidiary Tracking Stock Acquisition Rights which will be accounted for as stated capital:

630 yen per share


Notes:

1.Date of Ordinary General Meeting of Shareholders

June 22, 2004

2.Date of issue of Stock Acquisition Rights

November 18, 2004

3.Aggregate number of Stock Acquisition Rights

Common Stock Acquisition Rights: 14,242
Subsidiary Tracking Stock Acquisition Rights: 455

4.Issue price of Stock Acquisition Rights

The Stock Acquisition Rights are issued without the payment to the Corporation of any consideration.

5.Class and number of shares to be issued or transferred upon exercise of Stock Acquisition Rights

Common Stock Acquisition Rights:
1,424,200 shares of common stock of the Corporation*
Subsidiary Tracking Stock Acquisition Rights:
45,500 shares of subsidiary tracking stock of the Corporation*

*The number of shares to be issued or transferred upon exercise of each Stock Acquisition Right is 100.

6. Period during which Stock Acquisition Rights may be exercised

From and including November 18, 2005 to and including November 17, 2014. If the last day of such period falls on a holiday of the Corporation, the immediately preceding business day shall be the last day of such period.

7. Conditions for exercise of Stock Acquisition Rights

(1) Each Stock Acquisition Right may not be exercised in part.
(2) If a share exchange or a share transfer by which the Corporation becomes a wholly-owned subsidiary of another company is approved at the General Meeting of Shareholders of the Corporation, a holder of the Stock Acquisition Rights may not exercise the Stock Acquisition Rights on and after the effective date of such share exchange or share transfer.

8. Persons to whom Stock Acquisition Rights shall be allocated

Common Stock Acquisition Rights:
Directors, corporate executive officers and employees of the Corporation and its subsidiaries (total: 615)
Subsidiary Tracking Stock Acquisition Rights:
Directors and employees of Sony Communication Network Corporation (total: 9)