June, 2003

Tokyo, Japan, June 26, 2003 - JCB Co., Ltd. announced the appointment of Mr. Hiroya Nobuhara as President and Chief Executive Officer at its annual shareholders' meeting in Tokyo today. Mr. Nobuhara succeeds Mr. Isao Nakanishi. Prior to this appointment at JCB, Mr. Nobuhara was President and CEO of UFJ Card from June 2002. He has held a number of international banking management positions in the past at Sanwa Bank, Sanwa Bank California and UFJ Bank. Mr. Nakanishi, having served as JCB's President and CEO for the past 5 years, will continue with the company as special advisor.

JCB International Co., Ltd. (JCBI), a wholly owned subsidiary of JCB Co., Ltd, also announced management changes. Mr. Nobuhara succeeds Mr. Nakanishi as JCBI Chairman and CEO. Mr. Kunio Yoshizawa, formerly Deputy President, is appointed as President and Chief Operating Officer. Mr. Atsushi Niimura, President and COO for the past three years, is retiring after 15 years of dedication to the growth of JCB's presence in the international market

During Mr. Nakanishi's years as President, JCB became a global leader in the smart card movement, following the release of the first JCB chip card in December 2001. As well as consolidating the company's leading position in the domestic market, JCB International also became a truly global independent brand with cards issued in 18 countries, and a merchant network spanning 189 countries and territories.

Mr. Nakanishi also served as Chairman of the JCCA (Japan Credit Card Associtaion) from 2002-2003, where his strong initiatives towards smart card migration helped to place Japan at the forefront of the movement.