TAKEFUJI CORPORATION   15-1 Nishi-Shinjuku 8-chome,Shinjuku-ku, Tokyo 163-8654 Japan March 20, 2002 For release    Immediately Contact Media - Osamu Sasaki, Managing Director and General Manager of Public Relations Tel: 81-3-33658030 Financial Analysts - Shizuo Mizukami, Manager of Investor Relations - Kunio Takayama, Manager of Accounting Dept. Tel: 81-3-33658011 Stock Code No. 8564 - TYOSE London Stock Exchange AVS No. 988606 Takefuji sets up US$1 billion Credit Facility Commitment Tokyo, Japan, March 20, 2002 - Takefuji Corporation today announced that the company concluded a commitment of US$1 billion full credit facility, arranged by Merrill Lynch Japan Securities, for 10 years against our loan assets as collateral. The facility can be utilized in Japanese yen available funds up to its US$1 billion equivalent approximately 130 billion yen in light of the current exchange rate. The commitment of credit facility this time forms a part of our financial strategy as ever to diversify funding tools and channels as well as bonds issuance in both domestic and international markets so that we may access to stable funds much easier.    This credit facility, which enables us to raise funds at our discretion, makes use of "Takefuji Bull Mart" established as our subsidiary to be extended loans to us and it raises funds for the loan in collaboration with Ambac Assurance Corporation, the U.S. financial guarantor, and Merrill Lynch. Description 1 Type of Credit: Commitment of Credit Facility 2 Amount: Japanese Yen equivalent to US$1 billion 3 Date of Contract: March 20,2002 4 Term: 10 years 5 Interest: Yen fixed interest rate by interest currency swap transaction between US$LIBOR 6 Collateral: Loan assets of Takefuji Corporation 7 Arranger: Merril Lynch Japan Securities Co., Ltd. 8 Guarantor: Ambac Assurance Corporation (Over) Back by Takefuji co.