Notice on Business Alliance with Shounai Bank

Oct 19th, 2006

RISA Partners, its 100% subsidiary company RIFAS Inc., and RISA Loan Servicing, Inc. today concluded to enter into an alliance with Shounai Bank, Ltd. (Shizuoka city, Yamagata prefecture. President: Satoru Machida) on corporate restructuring.

Stating “Revolutionary Financial Information Service Group” as their long-term business vision, Shounai Bank is developing numerous methods and strategies and has successfully been listed on the Tokyo Stock Price Index TOPIX in February, 2006. Furthermore, the bank formed a management support team in order to vigorously develop corporate revitalization methods.

Currently RISA Partners is working with over 50 regional financial institutions from Hokkaido to Okinawa on corporate alliances and fund establishments. Furthermore, corporate restructuring fund establishments and management with public and private sectors are taking place in Ehime, Saitama, Okinawa and Chiba prefectures. We view this alliance to be the reflection of appraisal on our vigorous efforts in corporate advisory arena and is expected to strengthen our network in Yamagata prefecture and the Touhoku area.

Fully utilizing our wide range of financial institutions network and maximizing on our know-how on corporate advisory services we accumulated, RISA Partners will continue to further vitalize regional economy.

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