SOFTBANK LED CONSORTIUM AWARDED RIGHT TO NEGOTIATE PURCHASE OF NIPPON CREDIT BANK LTD.

Tokyo, Japan, February 24, 2000 - SOFTBANK CORP. (TSE: 9984), ORIX CORPORATION (TSE: 8591), and TOKIO MARINE AND FIRE INSURANCE CO., LTD. announced that they had formally been contacted by the Financial Reconstruction Commission and informed that they had been awarded the right to negotiate the purchase of Nippon Credit Bank Ltd.

Pursuant the FRC’s decision, Japan Deposit Insurance Corp, NCB and the SOFTBANK led consortium have signed a memorandum of understanding concerning the sale and transfer of all of NCB’s operations. This memorandum lays the foundation upon which the SOFTBANK led consortium can exclusively negotiate the purchase of NCB’s shares from Japan Insurance Corp.

The SOFTBANK led consortium intends to maintain the traditional relationships NCB has developed with corporate, financial, and retail clients as it implements the below listed managerial changes to restore NCB to profitability and growth as well as positively contribute to the development of the Japanese economy.

• While maintaining loan operations that respect the good intentions and financial soundness of various borrowers, NCB will construct a loan portfolio that adequately balances risk with return.

• To improve transparency and restore market confidence in management, NCB will maintain a proactive disclosure policy.

• The revamped NCB will strengthen its business with its primary clients, which are small- and medium-sized businesses.

• The revamped NCB will strengthen its commercial ties with regional institutions clients by providing them with various services.

• The revamped NCB will utilize and develop its commercial banking operations to support the growth and development of venture companies, while providing the venture capital funding needed for incubation.

• The revamped NCB will leverage remote access technology to develop new banking operations and provide customers with the utmost level of convenience and service.

• The revamped NCB will implement a progressive corporate governance policy that will enable timely managerial decision-making. Additionally, through the recruitment of various internal and external experts, the revamped NCB will develop an efficient and flat corporate structure.

Mr. Tadayo Honma, a former executive director of the Bank of Japan, has been selected to become president of the revamped NCB. Mr. Honma, who joined the Bank of Japan in 1963, held various positions, including Maebashi branch manager, assistant manager of the Operations Department, assistant manager of the Human Resources Management Department, as well as general manager of the Financial and Payment Systems Office. Additionally, from 1994 through 1998 Mr. Honma was an Executive Director of the Bank of Japan. Currently, Mr. Honma is the vice president of a consultancy advising small and medium businesses in Tokyo.

The revived NCB’s board of directors will have 10 directors. The new board of directors will also appoint external directors from the world of finance as well as leading academics. The new board intends to have a clear corporate governance policy by separating management from the execution. The new board of directors will also include Mr. Masayoshi Son, President & C.E.O. of SOFTBANK CORP., Mr. Yoshihiko Miyauchi, President & Group C.E.O. of ORIX CORPORATION, and Mr. Kokei Higuchi, President of TOKIO MARINE AND FIRE INSURANCE CO., LTD. as outside directors.

The SOFTBANK led consortium is actively exploring the possibility of including regional and foreign financial institutions as partners in the new NCB. The revamped NCB is expected to play an important role in the operations of regional financial institutions and various operational synergies are forecast. The consortium is looking to include a foreign financial institution as a means of leveraging various operational expertise needed to insure the success of the revamped NCB.

The revamped NCB, during this period where Japan’s financial services industry is currently is undergoing drastic change and innovation, aims to assume a leading position in the provision of cutting edge, customer oriented services. This is the vision the new NCB utilize to develop into a strong bank that can positively contribute to the Japanese economy.

Given the above described corporate vision and managerial focus, the SOFTBANK led consortium will diligently work to reach an expedient agreement for the purchase of NCB.

Tadayo Honma

Date of Birth

July 9, 1940

Academic Experience

Professional Experience

Contact

SOFTBANK FINANCE CORPORATION

Investor Relations Department

ORIX CORPORATION

Public Relations Department

Tokyo Marine & Fire Insurance Co.

Public Relations Department