April 23, 2004 Information Services International-Dentsu, Ltd. (ISID)  Jutaro Takinami, President and CEO  (Stock Code 4812 TSE)

Contact: Kenji Ryu, Executive Director   (Tel: 03-3228-6160)

Revision of Estimated Business Results for the Year Ending in March 2004 (Consolidated and Non-consolidated)

The following is a revision of the estimated business results released by Information Services International-Dentsu, Ltd. (ISID) on January 22, 2004 for the fiscal year ending in March 2004 (April 1, 2003 through March 31, 2004) 1. Revised Financial Results for Fiscal Year Ending in March 2004 (April 1, 2003 through March 31, 2004)    a. Forecast of Consolidated Financial Results (Units: JPY 1 Million)              　 Sales Ordinary Income Net Income Latest Forecast (A) 73,000 2,000 980 Current Forecast (B) 71,608 2,197 1,001 Increase/Decrease (B−A) △1,392 197 21 Change (％) △1.9% 9.9% 2.1% (c.f.) Results for Previous Period Ending March 2003 70,813 △1,584 △2,058    b. Forecast of Non-consolidated Financial Results (Units: JPY 1 Million)              　 Sales Ordinary Income Net Income Latest Forecast (A) 56,000 1,500 780 Current Forecast (B) 55,982 1,288 735 Increase/Decrease (B−A) △18 △212 △45 Change (％) △0.0% △14.1% △5.8% (c.f.) Results for Previous Period Ending March 2003 54,331 △1,062 △1,178 2. Reasons for Revision (1) Sales-related 　Non-consolidated sales are forecasted to come in at JPY 55,982 million, nearly unchanged from the latest forecast of January 22, 2004. Consolidated sales are expected to fall by 1.9% relative to the latest forecast to JPY 71,608 million because of sales at consolidated subsidiaries from system development projects for the financial industry and licenses for CAD/CAM software for the manufacturing industry that were below the latest forecast. (2) Profit-related 　Price competition coupled with pressure from price cutting continues to be severe for system development projects, which have experienced deteriorating profitability. While we continues to strive to assure profitability through improved effectiveness in development activity and cost controls, there have also been negative effects resulting from additional staffing costs incurred by some projects. Thus, non-consolidated operating income is expected to post at JPY 97 million relative to last year's operating loss of JPY 1,198 million. In conjunction with this, non-consolidated ordinary income is projected at JPY 1,288 million, down by 14.1% relative to the latest forecast. 　On the other hand, consolidated operating income is forecasted at JPY 588 million, which compares favorably with last year's consolidated operating loss of JPY 1,569 million. This is the result of favorable sales at consolidated subsidiaries of package software developed in-house and successful cost-cutting efforts by one of our consolidated subsidiary's management divisions. As a result, consolidated ordinary income is projected to be JPY 2,197 million, 9.9 % above the latest forecast. 　From the above, we projects non-consolidated net income at JPY 735 million (down 5.8% relative to the latest forecast) and consolidated net income at JPY 1,001 million (up2.1% relative to the latest forecast). 　 (Note) Sales and profit projections in this report are based on information available to management at the time of its preparation. Accordingly, readers are advised that actual sales and profits may differ from these projections.