MOU Signing Between Japan Securities Settlement & Custody, Inc. And Taiwan Securities Central Depository Co. Ltd. - A Threshold Toward Closer Business Ties

Japan Securities Settlement & Custody, Inc. (JSSC), a subsidiary of Tokyo Stock Exchange, Inc. (TSE), and Taiwan Securities Central Depository Co. Ltd. (TSCD) signed a Memorandum of Understanding (MOU) on November 2, 2004, aimed at establishing cooperative ties between the two organizations for securities depository and settlement.

Under the MOU, JSSC and TSCD have agreed to make their utmost efforts to 1) enhance business cooperation and tie-ups, 2) exchange personnel and launch training programs, and 3) exchange information, which will improve securities settlement systems.

Following the signing of the MOU, presidents of both institutions, Mr. Toshitsugu Shimizu, JSSC and Mr. Fortune Ju, TSCD, expressed their intentions to promote the mutual exchange of business related information and of personnel between the two institutions, and clarified their expectations to strengthen the friendly ties further.