Tokyo Stock Exchange: Changes In S&P/TOPIX 150

Tokyo Stock Exchange, Inc. (TSE) and Standard & Poor' s (S&P) will make the following changes in S&P/TOPIX 150 Index effective after the close of trading on Thursday, March 31, 2005.

ADDITIONS			DELETIONS
Company	Code	IWF	Company	Code
Sumitomo Realty & Development Co., Ltd.	8830	0.91	FUJISAWA PHARMACEUTICAL COMPANY LIMITED	4511

IWF of Yamanouchi Pharmaceutical Co., Ltd (4503) will be updated to 0.83 after the close of trading March 31, 2005 and the company name will be changed to Astellas Pharma Inc. (4503) as of April 1, 2005 .

* Fujisawa pharmaceutical company Limited (4511) will be de-listed on March 28, 2005 due to acquisition by Yamanouchi Pharmaceutical Co., Ltd (4503). For index calculation purpose, the price of Fujisawa (4511) will be frozen as of the close of March 25, 2005 , the last trading date to March 31, 2005 , in the S&P/TOPIX 150.

For further information on the S&P/TOPIX 150, please contact Information Services, Index Group at TSE ( databank-index@tse.or.jp ) or S&P Index Services (Tokyo +81-3-4550-8463).

(Note)

TOPIX and its sub-indices such as TOPIX 30, TOPIX 100, TOPIX 500, TOPIX 1000 adopt different methodology from that of S&P/TOPIX 150, the deletions and additions described above will be effective only for the S&P/TOPIX 150.

Component stocks and IWF