35SV Paragon M. C47

RNS Number:3801K
Pioneer Corporation
20 December 2007





                                                           For Immediate Release

                                                               December 20, 2007


                        Adjustment of Conversion Price of

                  Euro Yen Zero Coupon Convertible Bonds due 2011

TOKYO - Pioneer Corporation has announced that the conversion price of
its Euro Yen Zero Coupon Convertible Bonds due 2011, which were issued in March
2004, is adjusted as follows. This adjustment is made in connection with the
issuance of 30,000,000 new shares of common stock through a third-party
allotment on December 20, 2007.


                                  Description

1.Adjustment of Conversion Price:

Initial Conversion Price:             4,022 yen

Adjusted Conversion Price:            3,963.3 yen


2.Effective Date for the Adjusted Conversion Price:

December 20, 2007 (Japan time)



3.Reason for the Adjustment:

This adjustment is made because the issue price of 30,000,000 new shares of
common stock of Pioneer issued on December 20, 2007 falls below the current
market price (as defined in the terms and conditions of the Convertible Bonds)
of Pioneer's shares of common stock. The issuance of such new shares was
resolved at a meeting of the board of directors of Pioneer held on September 20,
2007 (Japan time).


Note: The Convertible Bonds are listed and traded on the London Stock Exchange.

                   #       #       #       #       #       #

For further information, please contact:

Hideki Okayasu

Managing Director, and General Manager of Finance and Accounting Division

Pioneer Corporation, Tokyo

Phone: +81-3-3494-1111 / Fax: +81-3-3495-4431

E-mail: pioneer_shr@post.pioneer.co.jp

IR Website: http://pioneer.jp/ir-e/


                      This information is provided by RNS
            The company news service from the London Stock Exchange
END

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