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March 9, 2000

Announcement on revision of business performance forecast and appointment of new corporate officers

Announcement on revision of business performance forecast
and appointment of new corporate officers

The following announcement is regarding resolutions of the March 9, 2000 meeting by Board of Directors of Net One Systems Co., Ltd.

Re: Revision of business performance forecast for the fiscal year ending March 2000

The following revisions are made to the business performance forecast of November 25, 1999 Interim Report for the fiscal year ending in March 2000.

1. Revision of business performance forecast for the fiscal year (unit: 1,000,000 yen)

	Sales	OrdinaryIncome	Current income	End of the term dividend per stock
Previous Forecast（Ａ）	30,000	1,800	1,000	1,000.00 yen
Revised Forecast（Ｂ）	33,500	2,700	1,300	1,000.00 yen
Amount of difference（Ｂ－Ａ）	3,500	900	300
Amount of difference ratio	11.7%	50.0%	30.0%

2. Reasons for Revision

(1) Increase in sales is due to enhancement in equipment investment by telecommunications companies and large-scale providers that reacted to signs of revival in Japan's economy.

(2) Increase in ordinary income is due to enhancement in sales and improvement in sales-to-cost ratio as well as lowering of sales-to-sales administrative expense.

(3) Increase in current income is mainly due to increase in ordinary income. End of the term dividend is expected to be 1,000.00 yen per share as previously planned.

3. Reference

(1) Business performance for previous fiscal year (April 1, 1998 to March 31, 1999) (unit:1,000,000 yen)

	Sales	Ordinaryincome	Current income	End of the term dividend per share
Fiscal year total	24,171	1,133	413	1,000.00 yen

(note: mid-term dividend was 0.0 yen)

(2) Business performance forecast for next fiscal year (April 1, 2000 to March 31, 2001)

	Sales	Ordinary income	currentincome
Fiscal year total	40,000	3,200	1,700

Appointment of new corporate officers

The Board of Directors resolved that, effective April 1, 2000, Kazuo Sato, currently Vice President and CEO will be appointed as President and CEO, and Atsuhiko Asada, currently President and CEO will be appointed as Adviser.

1. Reason for appointment Under strengthened management basis and rapid market growth, Net One aims to expand the corporate business through appointing younger President & CEO.