(Provisional Translation)
June 28, 2007
Financial Services Agency
Government of Japan

Administrative Actions on Shinsei Bank, Limited

1. The Financial Services Agency [hereinafter referred to as the ''FSA''] today issued a Business Improvement Order to Shinsei Bank, Limited [hereinafter referred to as ''Shinsei''] based on Article 20.2 of the Early Strengthening Law and Article 26.1 of the Banking Law. The FSA recognized the necessity to take administrative actions on Shinsei in order to ensure the fulfillment of the Business Revitalization Plan, because the actual figures of profits considerably underperformed the profit targets as of the end of March 2007, set in the Business Revitalization Plan.
2. The contents of the Business Improvement Order are as follows.

[1]	Shinsei must submit a Business Improvement Plan to the FSA by July 27, 2007. The plan should contain concrete measures to fundamentally improve profitability.
[2]	Shinsei must implement the new Business Improvement Plan steadily.
[3]	Shinsei must report on the progress in the implementation of the plan to the FSA within two months after the end of every quarter, starting from the end of September 2007, until it is confirmed that the plan is fully implemented.