Tokyo Stock Exchange: Discontinuation Of S&P/TOPIX150 Futures

Date 27/07/2004

Considering the lack of trading activity in S&P/TOPIX150 futures, TSE has decided to halt trading on new contracts as follows:

Trading on June 2005* and subsequent contracts will not be commenced.

Considering the current usage of the S&P/TOPIX 150 index, Standard and Poor’s (S&P) and TSE will continue to calculate and manage the index, and TSE will continue its partnership with S&P. S&P and TSE will keep an open dialogue regarding business opportunities for each other.

* The June 2005 contract was originally scheduled to start trading on September 10, 2004.