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12th September, 2003

UC CARD CO., LTD.

Hitachi Capital Corporation

Hitachi Capital and UC CARD CO., LTD. Announce Alliance

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Industry's First Credit-Card Payment Services for Auto Leasing Services Offered to Individual Consumers

UC CARD CO., LTD. (Minato-ku, Tokyo; President Sumio Uesugi) and Hitachi Capital Corporation (Minato-ku, Tokyo; President and CEO Kaichi Murata) wish to announce that the two companies have reached agreement on an alliance to provide credit-card payment services for auto leasing services offered to individual consumers.

1. Background and Purpose of Alliance

Although Japan's auto leasing market is not yet as fully developed as Europe and the U.S., the volume of auto leasing business handled in Japan jumped 10% in fiscal 2002. Meanwhile, Hitachi Capital saw a 2.5-fold year-on-year increase in the volume of its own auto leasing business. Japan's market for auto leasing services for individuals thus remains an open frontier with significant growth potential.

UC CARD and Hitachi Capital have jointly developed the UC CARD My Car Lease Service. This service will allow customers to pay their auto-leasing fees via credit card and will begin in October this year. This will give UC CARD the opportunity to expand services to UC CARD members and encourage greater use of its cards. Hitachi Capital will work to expand sales of auto leasing services to the UC CARD Group's membership base of approximately 12.06 million individuals.

2.Features of UC CARD My Car Lease Service

(1)	UC CARD will promote Hitachi Capital's auto leasing services for individuals to UC CARD Group members on its website.
(2)	UC CARD members will be able to enter information on their vehicle of choice such as model, make and options, online, and immediately confirm vehicle price, leasing fees and other information. UC CARD members will also be able to complete and submit contract applications to Hitachi Capital online.
(3)	Hitachi Capital will order vehicles from car dealers and deliver them to UC CARD members.
(4)	Members will pay monthly leasing fees using their UC CARD, and will be able to obtain points as part of a point-based loyalty program provided by UC CARD.

Diagram of Auto Leasing Business

3.Business Volume Target

The UC CARD My Car Lease Service is projected to generate business volume of 1,000 vehicles (approximately ¥2.0 billion) annually.

Profile of UC CARD My Car Lease Service

Name of service	UC CARD My Car Lease Service
Start of service	1st 2. An updated vehicle database allows customers to compare vehicles of all models, makes and grades online. Colors and options may also be freely chosen.3
Targeted customers	UC CARD Group members
Service fee	None
Access method	Access service from UC CARD website URL: http://www.uccard.co.jp
Features	1.	The residual value at lease-end is deducted from total payments paid by customers. Inexpensive monthly leasing fees can be scheduled.
	2.	An updated vehicle database allows customers to compare vehicles of all models, makes and grades online. Colors and options may also be freely chosen.
	3.	There is no down payment.
	4.	Registration fees may be included in leasing fees. There is no need to make advance payments of registration fees, as is the case when purchasing autos with auto loans.
	5.	Automobile taxes and third-party liability insurance may be included in leasing fees. There is no need to make advance payments, as is the case when purchasing autos with auto loans.

Contact:

UC CARD CO., LTD.
Daiba Frontier Building 3-2, Daiba 2-chome
Minato-ku, Tokyo 135-8601
Mr. Norihiko Nishisaka and Mr. Hiromichi Mori
Public Relations Office
Phone: 03-5531-6325
Facsimile: 03-5531-6632

Hitachi Capital Corporation
15-12, Nishi Shimbashi 2-chome, Minato-ku, Tokyo 105-8712, Japan
Mr. Akio Ogura, General Manager, Corporate Planning & Development Division,
CI & Public Relations Dept.
Phone: 03-3503-2118
Facsimile: 03-3503-2343

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