NEWS RELEASES

June 01, 2007

Phillip Financials Announces Capital Increase

Phillip Financials announced that it has completed a capital increase of 100,000,000 Yen as of May 30, 2007 in order to further strengthen its financial foundation.


Total amount of shareholder capital: 450,000,000 Yen


Amount of capital increase: 100,000,000 Yen