For Immediate Release

Tokyo, October 29, 2004 -¡¡JCB, a leading international payment brand, is pleased to announce that its international subsidiary, JCB International Co., Ltd., has signed acquiring and card issuing license agreements with Transcard SA, based in Sofia, Bulgaria. The signing ceremony took place at JCB's world conference held in Kyoto this month. Transcard will start merchant operations by March 2005 and card issuing by September 2005.

"We are delighted with this new alliance in Bulgaria, it's a powerful addition to the network of bank partnerships we have been building throughout Europe and around the world", said Mr. Eiji Tamura, Senior Vice President of JCB International. "Through these merchant- acquiring and card-issuing agreements, we are combining Transcard in-depth local knowledge with our global capabilities to reach a far greater number of Bulgarian consumers seeking innovative financial products that deliver premium value and service."

"Transcard was the first non-bank entrant to the Bulgarian credit card industry, and we are looking to the JCB cobrand card to further extend our share of the market", commented Mr. Christo Georgiev, Chairman of Transcard. "Bulgaria is ready to join the EU in 2007, the perfect opportunity for making the Transcard JCB card the must-have international brand card."

Transcard entered the credit card business in 2002, when there were only about 50,000 credit cards in Bulgaria. Offering cash-back benefits that vary from 1 to 30%, Transcard built a substantial base of over 60,000 cardholders with 100,000 cards in two short years. It offers Classic and Gold cards for individuals, a Business card for corporate clients, and a Fleet card for use at gasoline stations and expecting to issue 30,000 of the new JCB cards in the first year. In merchant acquiring, Transcard is planning to achieve a coverage rate of 80% of merchants accepting credit cards in Bulgaria by the end of this year.

JCB is committed to strengthening its presence in Bulgaria and the rest of Eastern Europe, and to a stronger cardmember base in Europe. JCB's partnerships in Bulgaria include United Bulgarian Bank, and now, Transcard. The Transcard JCB card is expected to rapidly become a leading international credit card in the Bulgarian market.

About Transcard S.A.
Transcard was established in 2001, by Bulgaria's major petroleum company, Petrol Holding AD and SISTEC Holding AD. The company has achieved a base of 150,000 own-brand domestic credit cards, including Classic, Gold, Business and Fleet cards. Transcard is also Visa Third Party Processor and provides credit card acquiring operations services to Bulbank, Bulgaria's leading bank. For more information about Transcard, please visit at www.transcard.bg. (Bulgarian only)

About JCB Co., Ltd.
JCB is an international credit card brand and the largest card issuer and acquirer in Japan. JCB launched its card business in Japan in 1961 and began expanding overseas in 1981. Its merchant network includes 11.7 million merchants and spans 190 countries and territories. JCB cards are now issued in 18 countries and territories, with 51.6 million cardmembers. As part of its international growth strategy, JCB has formed alliances with more than 320 leading banks and financial institutions globally to increase merchant coverage and cardmember base. JCB's corporate philosophy of "Service from the heart", a commitment to responsive and high-quality service, continues to guide it as it creates the future together with its customers, merchants and partners. For further information, please visit the JCB Co. Ltd. home page at : www.jcb-global.com/english or www.jcbinternational.com.