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April 19, 2007

Index Holdings
Promise Co., Ltd.

Index Holdings and the Promise Group establish a new joint venture

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Leveraging the Index Group's Internet expertise to create a delivery framework for diversified financial services that include transaction settlements

Tokyo, Japan, April 19, 2007 - Following the formation of a capital and business partnership between Index Holdings (President: Susumu Tsubaki, Head Office: Tokyo) and Promise Co., Ltd. (President: Hiroki Jinnai, Head Office: Tokyo) in December 2005, careful deliberation was directed towards capitalizing on the combined market strengths of each company, which has resulted in the April 19, 2007 launch of a new joint venture.

[Outline of Joint Venture]
·Company name:Index Create Co., Ltd.
·Head office:Carrot Tower, 4-1-1 Taishido, Setagaya-ku, Tokyo 154-0004
·Establishment:April 19, 2007
·Start of service:August 2007 (scheduled)
·Paid in capital:400 million yen (capital funds: 200 million yen, capital reserve: 200 million yen)
·Ownership:PAL Life Co., Ltd. (51%), Index HD (49%)
* PAL Life Co., Ltd. is a 100% Promise subsidiary
·Representative:Eichi Abe
·Directors:5 = Promise (3), Index (2)
·Employees:8 (scheduled at establishment)

[About the New Joint Venture]
The Promise Group is now able to deliver an expanded variety of innovative financial services through cooperative developments that capitalize on the Index Group's established community of diversified users, catalog of merchandise, practical services, valuable content and advanced mobile technology know-how.

[Joint Venture Business Overview]
1.Services and Goods that leverage Index Group assets
- Operation of distinctive Internet sites that feature content provided by Index Group companies, and offer sales options for characters, original services and more.
2.Newly developed Promise Group financial services
- The Promise Group anticipates expanded use of its financial services through connections to the user base procured through the Index Group's mobile sites and businesses.
- The Promise Group anticipates expanded use of its financial services through operation of distinctive Internet sites that cater to existing settlement needs.

Outline of Index Holdings
Company name:Index Holdings (JASDAQ: 4835)
Head office:Carrot Tower, 4-1-1 Taishido, Setagaya-ku, Tokyo 154-0004
Establishment:September 1995
Paid in capital:36,071 million yen (end of February 2007)
Representative:Susumu Tsubaki, President
Principal activities:Index Holdings oversees the formation of unified strategies, distribution of resources and responsive business operations of the Index Group of companies, which are focused on the delivery of mobile, broadband, entertainment, commerce and publishing services on an international scale.

Outline of Promise Co., Ltd.
Company name:Promise Co., Ltd.
Head office:1-2-4 Otemachi, Chiyoda-ku, Tokyo 100-0004
Establishment:March 1962
Paid in capital:80,737 million yen (end of February 2007)
Representative:Hiroki Jinnai, President
Principal activities:Consumer finance

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