Press Release

Press Release

February 21, 2005
Nikko Cordial Securities Inc.

Change in Directors

Today, Nikko Cordial Securities Inc. announced the changes in Directors as follows.

[Retiring Directors]

Executive Deputy PresidentTatsuo ItoIn June, 2005
Executive Deputy PresidentTakeo NakazonoIn June, 2005 (General Meeting of Shareholders)
[New Director]Effective from February 24, 2005
Executive Deputy PresidentNoriyuki Ogasawara (Manex Beans Holdings, Inc Chairman(Director))
[Change in Titles] Effective from February 24, 2005
Executive Deputy PresidentNorio Suda (Senior Executive Managing Director)