Acquisition of Treasury Stock

(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, February 27, 2006, 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 and to increase
    shareholders value through improving capital efficiency.

2. Outline of Acquisition

    (1) Type of stock.......................................... Common shares of Promise Co., Ltd.

    (2) Number of shares to be acquired............... 2.1 million (upper limit)

                                                                       (1.55% of outstanding shares)

    (3) Cost of shares......................................... 17.0 billion yen (upper limit)

    (4) Acquisition schedule................................ February 28 to March 23, 2006

         Reference: Treasury Stock Holdings as of January 31, 2006

          • Issued and outstanding shares............................................ 134,866,665 shares

          • Issued and outstanding shares (less treasury stock)............. 128,593,927 shares

          • Treasury stock...................................................................... 6,272,738 shares