TAKEFUJI CORPORATION   15-1 Nishi-Shinjuku 8-chome,Shinjuku-ku, Tokyo 163-8654 Japan June 7, 2004 For release    Immediately Representative Akira Kiyokawa, President Contact Investor Relations Tel: 81-3-3365-8011 Fax: 81-3-3365-8070 Stock Code No. 8564 TYOSE Takefuji announces new organizational structure and nominations of Directors on Board, Executive Officers and Corporate Auditors The Board of Directors decided in the meeting on June 7 the reduction of the number of directors, increase in the number of independent directors as well as the introduction of a new executive officer system, as part of the renovation of management organization. The Board has also nominated candidates for directors on board, the representative director, executive officers and a corporate auditor. With the new organizational structure, Takefuji aims at securing the transparency and reliability in the decision making process with proper internal control in place. The new organization features the separation of the decision-making and supervision fuctions from the execution functions, with a view towards promoting the quick and efficient execution of our business. The appointment of directors, officers and corporate auditors is subject to approval at the ordinary general meeting of shareholders, followed by the meeting of the board of directors scheduled on June 29, 2004. 1. Board of Directors (*newly appointed) Megumu Motohisa * Representative Director & President Taketeru Takei Senior Managing Director in charge of: Business & Marketing Division as Chief Training and Education Dept. New Office Development Dept. Secretariat Office Social Contribution Office Hikaru Kondo * Senior Managing Director in charge of: Public Relations Dept. Personnel Dept. Corporate Planning Dept. Legal Dept. Examination Dept. Ryotaro Kawashima * Managing Director in charge of: Finance Dept. Investors Relations Office Advertising Dept. Accounting Dept. l Property Administration & Development Office Katsunori Aita Director & Executive Officer in charge of: Business & Marketing Division as Deputy Chief Masayoshi Shirakura Director & Executive Officer in charge of: General Affairs Dept. Inspection Dept. Itsuho Takase Director & Executive Officer in charge of: Information Systems Dept. (Both Planning and Administration) Credit Card Business Dept. Akiyuki Nagase * Independent Director (CEO of Nagase Brothers Inc.) Arata Sawa * Independent Director (Attorney at law) 2. Newly-appointed Corporate Auditor: Takeshi Kasai (Another three corporate auditors remain in their office) 3. Executive Officers (Newly appointed as of June 29, 2004) Takeshi Kosakai Executive Officer in charge of: Business Administration Dept. Kanji Kobayashi Executive Officer in charge of: Information Systems Dept. (Administration) Yoshihisa Hagiwara Executive Officer in charge of: Labor Relations Dept. Hiroshi Kimura Executive Officer in charge of: Personnel Dept. Social Contribution Dept. Kengo Sato Executive Officer in charge of: Loan Administration Dept. Shinji Miyamoto Executive Officer in charge of: Nagoya Regional Branch as General Manager Shigeki Hirano Executive Officer in charge of: Examination Dept. Yasuaki Tabaru Executive Officer in charge of: Accounting Dept. Tatsumi Matsunaga Executive Officer in charge of: Public Relations Dept. 4. Directors and corporate auditor resiging on June 29,2004 Teruki Uchida * Vice Chairman Akira Kiyokawa * President Osamu Sasaki Managing Director, Public Relations Dept. Yoshihiko Baba Managing Director, Information Systems Dept. Takeshi Kosakai Director, Business Administration Dept. as General Manager Kanji Kobayashi Director, Information Systems Dept. as General Manager Yoshihisa Hagiwara Director, General Affairs Dept.as General Manager Mineko Naito Director, Credit Card Business Dept. as General Manager Yoshiji Fukushima Director Kunio Akiyoshi Corporate Auditor * Mr.Teruki Uchida and Mr.Akira Kiyokawa will be the adviser as from June 29, 2004 Back by Takefuji co.