List of Participants (As of July 1, 2003)

Total: 271 * Jujiya Securities Co., Ltd. * Nishiwaki Securities Co., Ltd. * JVIC Securities Co., Ltd. * Nissan Securities Co., Ltd. Securities Companies * Kabu. com Securities Co., Ltd. Nissho Iwai Securities Co., Ltd. Access Securities Co., Ltd. * Kadoya Securities Co., Ltd. * Co., Ltd. * Ace Securities Co., Ltd. * Kagawa Securities Co., Ltd. * Norinchukin Securities Co., Ltd. * Aioi Securities Co., Ltd. * Kaneju Securities Co., Ltd. * Nozomi Securities Co., Ltd. * Aizawa Securities Co., Ltd. * Kaneyama Securities Co., Ltd. * Odawara Securities Co., Ltd. * Akakiya Securities Co., Ltd. * Kaneyoshi Securities Co., Ltd. * Okachi Securities Co., Ltd. * Alps Securities Co., Ltd. * Kanzaki Securities Co., Ltd. * Okasan Securities Co., Ltd. * Ando Securities Co., Ltd. * Kimura Securities Co., Ltd. * Okinawa Securities Co., Ltd. Aramachi Securities Co., Ltd. * Kobe Securities Co., Ltd. One Asia Securities Co., Ltd. * Ark Securities Co., Ltd. * Kokufu Securities Co., Ltd. * Orient Securities Co., Ltd. * Awa Securities Co., Ltd. * Kotobuki Securities Co., Ltd. * Orix Securities Co., Ltd. Axes Japan Securities Co., Ltd. * Kurokawakitoku Securities Co., * Otsuka Securities Co., Ltd. * Banyo Securities Co., Ltd. Ltd. * Panta Rhei Securities, Co., Ltd. * Bright Securities Co., Ltd. * Kyokuto Securities Co., Ltd. * Port Satellite Securities. Co., Ltd. Capital Partners Securities Co., * Kyowa Securities Co., Ltd. Privee Zurich Securities Co., Ltd. Ltd. * Maeda Securities Co., Ltd. * Retela Crea Securities Co., Ltd. Central Tanshi Securities Co., Ltd. * Maruchika Securities Co., Ltd. Rokuwa Securities Co., Ltd. * Century Securities Co., Ltd. * Marudai Securities Co., Ltd. * Sakamoto Hokuriku Securities * Chuo Securities Co., Ltd. * Marufuku Securities Co., Ltd. Co., Ltd. Core Pacific – Yamaichi Securities * Maruhachi Securities Co., Ltd. * Sanei Securities Co., Ltd. Co., Ltd. * Maruko Daika Securities Co., Ltd. * Sanko Securities Co., Ltd. * Cosmo Securities Co., Ltd. * Marukuni Securities Co., Ltd. * Sankyo Securities Co., Ltd. * Daikumamoto Securities Co., Ltd. * Marusan Securities Co., Ltd. * Sasayama Securities Co., Ltd. * Daiman Securities Co., Ltd. * Maruwa Securities Co., Ltd. * Shinbayashi Securities Co., Ltd. * Daisei Securities Co., Ltd. * Matsui Securities Co., Ltd. * Shinko Securities Co., Ltd. * Daitoku Securities Co., Ltd. * Meiwa Securities Co., Ltd. * Shin-Ogaki Securities Co., Ltd. * Daiwa Securities Co., Ltd. Me Net Securities Co., Ltd. Shinsei Securities Co., Ltd. * Daiwa Securities SMBC Co., Ltd. * Merrill Lynch Japan Securities * Shinwa Securities Co., Ltd. D. Brain Securities Co., Ltd. Co., Ltd. Shizugin TM Securities Co., Ltd. DLJ direct SFG Securities Inc. Mirai Securities Co., Ltd. * Shizuoka Tokai Securities Co., * Dojimakanto Securities Co., Ltd. * Mita Securities Co., Ltd. Ltd. * E. Trade Securities Co., Ltd. * Mito Securities Co., Ltd. * Shonai Securities Co., Ltd. * Eiwa Securities Co., Ltd. Mitsubishi Securities Co., Ltd. * Sieg Securities Co., Ltd. * Firstmake Securities Co., Ltd. MITSUI SECURITIES CO., LTD. * SMBC Friend Securities Co., Ltd. Get Securities Co., Ltd. Mitsubishi Tokyo Wealth Sparx Securities Co., Ltd. * H. S. Securities Co., Ltd. Management Securities Ltd. * Star Futures Securities Co., Ltd. * Hikari Securities Co., Ltd. Miyako Securities Co., Ltd. Starts Securities Co., Ltd. * Himawari Securities, Inc. * Mizuho Securities Co., Ltd. * Taicom Securities Co., Ltd. * Hinode Securities Co., Ltd. * Monex, Inc. * Takagi Securities Co., Ltd. * Hirota Securities Co., Ltd. * Murosei Securities Co., Ltd. * Tama Securities Co., Ltd. * Ichiyoshi Securities Co., Ltd. * Musashi Securities Co., Ltd. * Tamaki Securities Co., Ltd. Imamura Securities Co., Ltd. * Nagano Securities Co., Ltd. * The Asahi Retail Securities Co., * IRIYA BANSEI SECURITIES CO., * Naito Securities Co., Ltd. Ltd. LTD. * Nakaizumi Securities Co., Ltd. * The Kosei Securities Co., Ltd. * Ise Securities Co., Ltd. * Nara Securities Co., Ltd. * The Miki Securities Co., Ltd. ITM Securities Co., Ltd. * Naruse Securities Co., Ltd. * The Mizuho Investors Securities ITOCHU Capital Securities Ltd. * NCS Securities Ltd. Co., Ltd. * Iwai Securities Co., Ltd. * New–S Securities Co., Ltd. * The Nakahara Securities Co., Ltd. * Izumi Securities Co., Ltd. Nihon Kyoei Securities Co., Ltd. * The Tachibana Securities Co., Ltd. * Japan Asia Securities Co., Ltd. * Niigata Securities Co., Ltd. * Tobu Securities Co., Ltd. * Japan Cross Securities Co., Ltd. * Nikko Beans, Inc. * Tokai Tokyo Securities Co. Ltd. * Japan Electronic Securities Co., Ltd. * Securities Inc. * Toyo Securities Co., Ltd. * Jet Securities, Inc. Nippon First Securities Co., Ltd. Traders Securities Co., Ltd. * Joko Securities Co., Ltd. * Nippon Global Securities Co., Ltd. * Tsukamoto Securities Co., Ltd. * Jonan Securities Co., Ltd. * Nishimura Securities Co., Ltd. * Tsuyama Securities Co., Ltd. * UFJ Tsubasa Securities Co., Ltd. 30 List of Participants

* Usuki Securities Co., Ltd. Banks and Other Financial Bank * Utsumiya Securities Co., Ltd. Institutions State Street Trust and Banking * Utsunomiya Securities Co., Ltd. Aozora Bank, Ltd. Company, Limited * WORLD NICHIEI Securities * Japan Trustee Services Bank, Ltd. The Hongkong and Shanghai Banking Corporation Limited Co., Ltd. * JSF Trust & Banking Co., Ltd. UBS (Trust and Banking) Limited * Yahata Securities Co., Ltd. * Mitsui Asset Trust and Banking * Yamagata Securities Co., Ltd. Company, Limited * Yamagen Securities Co., Ltd. , Ltd. Insurance Companies * Yamamaru Securities Co., Ltd. * , Ltd. * Yamani Securities Co., Ltd. Mizuho Trust & Banking Co., Mitsui Sumitomo Insurance Co., Ltd. * Yamawa Securities Co., Ltd. Ltd. Nippon Life Insurance Company * YOKOHAMA securities Co., LTD. NikkoCiti Trust and Banking Sompo Japan Insurance Inc. * Yutaka Securities Co., Ltd. Corporation The Dai-Ichi Mutual Life Zukawa Securities Co., Ltd. ORIX Trust and Banking Corporation Insurance Company ABN Amro Securities (Japan) The Meiji Mutual Life Insurance Limited * RESONA BANK LIMITED Company * Banc of America Capital Markets Shinkin Trust Bank, Ltd. * The Taiyo Life Insurance – Japan, Inc. Shinsei Bank, Limited Company * Barclays Capital Japan Limited Shinsei Trust and Banking Co., Ltd. The Tokio Marine & Fire * Bear Stearns (Japan) Limited Insurance Co., Ltd. * BNP Paribas Securities (Japan) * Sumitomo Mitsui Banking Limited Corporation * The Bank of Tokyo–Mitsubishi, * Citicorp International Securities Stock Exchanges and Others Ltd. Ltd. * Central Tanshi Co., Ltd. * Commerz Securities (Japan) Co., * The Bank of Yokohama, Ltd. Ltd. * The Chuo Mitsui Trust and * Chubu Securities Finance Co., Ltd. Credit Agricole Indosuez Banking Company, Limited Securities (Japan) Limited The Daishi Bank, Ltd. * Daiko Shoken Business Co., Ltd. * Credit Lyonnais Securities The Hiroshima Bank, Ltd. * Fukuoka Stock Exchange Europe Switzerland AG The Kyoto Shinkin Bank * Japan Securities Agents, Ltd. * First Boston * The Master Trust Bank of Japan, Japan Securities Clearing Securities (Japan) Limited Ltd. Corporation * Deutsche Securities Limited, * The Mitsubishi Trust and * Japan Securities Dealers Tokyo Branch Banking Corporation Association * Dresdner Kleinwort Wasserstein * The Nagano Bank, Ltd. * Japan Securities Finance Co., Ltd. Ltd. The Nomura Trust and Banking * Japan Securities Settlement E*T Institutional Securities Co., Ltd. Custody, Inc. Limited * The Norinchukin Bank Jasdaq Market, Inc. Fidelity Brokerage Services * The Norinchukin Trust & * Nagoya Stock Exchange, Inc. (Japan), LLC Banking Co., Ltd. * Osaka Securities Exchange, Inc. * (Japan) Limited * The Sumitomo Trust & Banking * Osaka Securities Finance Co., * HSBC Securities (Japan) Limited Co., Ltd. Ltd. HVB Capital Asia Limited * The Tokyo Tomin Bank, Limited * Sapporo Securities Exchange Hyundai Securities Co., Ltd. Tokyo Bankers Association The Tokyo Tanshi Co., Ltd. ING Securities Japan Limited * Tokyo Shoken Credit * Tokyo Securities Transfer Agent * Instinet Japan Limited Cooperative Co., Ltd. * J.P. Morgan Securities Asia * Trust & Custody Service Bank, Ltd. * Tokyo Stock Exchange, Inc. Limited * UFJ Bank Limited Ueda Yagi Tanshi Co., Ltd Jefferies (Japan) Limited * UFJ Trust Bank Limited * KBC Securities Japan Barclays Global Investors Japan * Shareholder Lehman Brothers Japan Inc. Trust & Banking Co., Ltd. * Japan Limited BNP Paribas Private Bank (Japan) Note: Overseas CSDs participating in * Nikko Limited Limited JASDEC through JSSC; RBC Dominion Securities (Japan) Citibank, N.A. The Central Depository (Pte) Limited Cititrust and Banking Limited (Singapore) Société Générale Securities Corporation (North Pacific) Ltd. Deutsche Trust Bank Limited * UBS Securities Japan Limited J.P. Morgan Trust Bank, Ltd. * WestLB Securities Pacific Limited SG Private Banking (Japan) Limited

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