News Release

September 7, 2000
The Sakura Bank, Limited

Completion of "Preliminary Judgement of Banking License "
for “ The Japan Net Bank, Limited”

  The Sakura Bank, Limited (Akishige Okada, President) announced that "Preliminary Judgement for Banking License" of “ The Japan Net Bank, Limited” , for which Sakura Bank submitted its preliminary application on June 1, was completed by Financial Reconstruction Commission based on Bank Law.
  Based on this completion, Sakura Bank will establish “ The Japan Net Bank, Limited” , Japan's first Internet / Online specialized bank, within a few weeks with the following companies. After the establishment, “ The Japan Net Bank, Limited” will receive the banking license based on Bank Law and start business in October.
  The schedule from now on and the outlines of “ The Japan Net Bank, Limited” are as follows;

1. Schedule
(1) Establishment September 19, 2000 (plan)
(2) Start of Business  October 2000
(just after receiving the banking license)

2. Outlines of “ The Japan Net Bank, Limited”
(1) Name of Company Kabushiki Kaisha Japan Net Ginko
(English Name: The Japan Net Bank, Limited)
(2) Head Office 1-1, Nishi-shinjuku 2-chome, Shinjuku-ku, Tokyo
(6th Floor of Shinjuku Mitsui Building)
(3) Capital \20 billion
(4) Shareholders (plan) Sakura Bank  50%
Sumitomo Bank  10%
Fujitsu  10%
Nippon Life Insurance  10%
Tokyo Electric Power  5%
Mitsui & Co.  5%
NTT DoCoMo  5%
NTT East  5%
(5) Management will be transferred from Sakura Bank (TBA)
(6) Employees around 50 as full-time employees and around 50 for customer center staff
(7) ATM Network
(at the start of business)
Sakura Bank  approx.1,000 location (about 4,500 ATM)
am/pm (@BΛNK)  approx. 1,000 stores (about 1,000 ATM)
(8) Products / Services Current deposit, Term deposit, Money transfer,
Small-size consumer loan etc.
(9) Access Channels Internet, Dial-up, Mail order, Telephone, ATM
(real channel = Head Office only)
(10) Business Target number of accounts = 1 million
deposit balance = \1 trillion