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April 25, 2005

Acquisition of Treasury Stock

Promise News Releases

(Acquisition of treasury stock under Article 211-3, Paragraph 1, Item 2 of the Commercial Code)

 

 

In a meeting of the Board of Directors held today, April 25, 2005, Promise Co., Ltd., decided to acquire treasury stock as stipulated in Article 211-3, Paragraph 1, Item 2 of the Commercial Code of Japan. Details are as follows.

 

1. Reason for acquisition of treasury stock

   To enable the Company to pursue systematic capital strategies.

 

2. Outline of Acquisition

(1)Type of stock.................................

Common shares of Promise Co., Ltd.

(2)Number of shares to be acquired......

2 million (upper limit)

(1.48% of outstanding shares)

(3)Cost of shares................................

15.0 billion yen (upper limit)

(4)Acquisition schedule.......................

April 28 to June 20, 2005

 

          Reference: Treasury Stock Holdings as of March 31, 2005

•Issued and outstanding shares..................................

134,866,665 shares

•Issued and outstanding shares (less treasury stock)...

134,514,360 shares

•Treasury stock........................................................

352,305 shares

 

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