For Immediate Release

TOKYO and LOS ANGELES, CA, December 21, 2004 - JCB, a leading international payment brand, today announced it has acquired one-third ownership in EMVCo, LLC (EMVCo), joining MasterCard International and Visa International, and giving all three members equal interests in the organisation. JCB will appoint representatives to the EMVCo board of managers and the executive committee, as well as its working groups. EMVCo manages and enhances EMV™ Integrated Circuit Card Specifications for Payment Systems in line with advances in technology and the implementation of chip card programs.

"From our unique position as an international payment brand, card issuer and merchant acquirer, JCB brings an extensive and valuable set of chip card experiences to EMVCo. We look forward to leveraging these lessons and finding innovative and creative ways to contribute to achieving EMVCo's mission," said Atsushi Gondo, executive officer of Advanced Technologies & Solution Development Headquarters at JCB Co., Ltd.

"EMVCo is pleased that JCB has become a member of the organisation. JCB's status as a global payment organisation, coupled with its participation in the Japanese and Asian smart card markets, aligns well with EMVCo's goal to ensure worldwide interoperability of smart card payment systems through the EMV Specifications," said Art Kranzley, chair of the EMVCo executive committee and executive vice president and chief e-business officer at MasterCard International.

Gaylon Howe, member of the EMVCo executive committee and executive vice president of Consumer Product Platforms at Visa International, added, "JCB has been deploying an EMV-compliant infrastructure since 2001. With half of its 51 million branded cards predicted to be EMV compliant by April 2005, JCB's commitment to EMV is without question."

"The decision to become an owner-member of EMVCo is a natural extension of JCB's leadership in the global effort to migrate to an EMV-compliant payment infrastructure. Our membership will strengthen JCB's unique position as the leading Asian international payment brand," said Gondo.

Since December 2001, JCB has been deploying an EMV-compliant infrastructure in cooperation with banks, card companies and other partners worldwide, as a countermeasure against the increasingly serious threat of credit card fraud. JCB has also been issuing new and renewal JCB smart cards in Japan, where the majority of its cardmembers reside, as well as in other Asian countries. By April 2005, JCB anticipates that about half of its JCB branded cards will be EMV compliant smart cards.

EMV smart cards provide higher security, increased multi-functionality and lower counterfeit and fraud risk. Currently there are about 250 million EMV-compliant chip cards and about two million chip card-capable ATMs and POS terminals deployed in the global market, primarily in Europe and Asia.

About EMVCo, LLC.
EMVCo, LLC, was formed in February 1999 by Europay International (which later merged with MasterCard International in July 2002), MasterCard International and Visa International to manage, maintain and enhance the EMV™ Integrated Circuit Card Specifications for Payment Systems. The primary role of the organisation is standards maintenance that ensures interoperability and acceptance of payment system integrated circuit cards and payment applications on a worldwide basis. EMVCo is also responsible for a type approval process that defines test requirements and test cases that are used for terminal compliance testing. Additional information can be found at www.emvco.com

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

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