May, 2003

Tokyo Japan, May 28, 2003 - The Philippines' major credit card company Bankard Inc., in partnership with JCB International Co., Ltd., launched the new My Dream JCB Card on April 29, 2003. The credit card market in the Philippines currently has only about 3.5 million credit cards in issuance amongst a population of 76 million, leaving significant room for exponential growth. The first JCB brand card was issued in 1996 by RCBC, followed by a JCB partnerships with Equitable Cardnetwork in 1997 and then with Bankard in 2001. Until now credit card issuance in the market has focused primarily on the affluent segment of society.

The new My Dream JCB Card has an uniquely low annual fee of 800 pesos, compared to the usual 1,200 pesos, and a finance charge rate of 2.5%, compared to the usual range of 3.25 - 3.5%. These advantages, combined with the value added of the independent JCB international credit card brand will provide major benefits to Bankard customers not offered by any other brand. In addition, not only will JCB's brand recognition rise in the market, but also the credit card market itself is expected to expand more rapidly with the issuance of this new card. Issuing is anticipated at 120,000 cards in the first year, and a total of 360,000 in the first three years alone.