A Merger with Think Bank Completed

Jul 10th, 2003

RISA Partners Inc. decided on the merger with the Think Bank, Ltd., and signed the contracts today.

The merger ratio is 1 Think Bank to 1.5 RISA Partners, the merger date is September 1st, 2003, RISA Partners will keep its name.

Think Bank Ltd., is a business consulting firm founded two years ago by former members of Long Term Credit Bank of Japan. It provided advisory services to business enterprises and large foreign investment banks.

This merger further secured our profitability and acquired talented expertise on due diligence, corporate recovery advisory, and financial management strategy segments and anticipates a significant growth for RISA Partners.