March 12, 2001

                                                Company: Information Services International - Dentsu, Ltd (ISID)
Representative: Jutaro Takinami, President & CEO
(Code: 4812, TSE, 1st Section)
Contact: Yutaka Kimura, Senior Executive Director
(Tel.: 03-3228-6160)

Acquisition of Shares in KISCO Solutions, Ltd (to be ISID Subsidiary)

  Information Services International - Dentsu, Ltd (ISID, representative: Jutaro Takinami) has announced its decision, taken at a board of directors meeting on March 12, 2001, to increase its holding in KISCO Solutions, Ltd (KISCO, representative: Koichiro Ohtomo) to 70% of the total number of currently issued shares, making KISCO an ISID subsidiary. ISID previously held a 10% stake in KISCO, but this decision sees ISID acquire the KISCO shares (60% of the total share issue) held by the investment enterprise incorporated partnership, Advantage Partners MBI Fund 2 (MBI Fund 2) . As a member of the ISID group of companies, the future corporate value of KISCO is set to rise.

  KISCO was founded when the Information Systems Business division of Kanebo, Ltd (representative: Takashi Hoashi, company name: Kanebo) was split off and set up as a joint venture with 30% funding from Kanebo, 60% funding from MBI Fund 2 and 10% funding from ISID. Sales of 10.6 billion yen with an operating profit of 1.05 billion yen are forecast for the period ending March 2001.

  Since 1977, when still part of Kanebo, KISCO has undertaken systems development for outside companies based on the system technologies used in its own plants and has expertise in the following areas:

- Extensive sales of software packages developed in house, focusing on the finance industry
- Powerful networking technologies, such as the linking of host computers and CS systems.
- An excellent customer base, particularly in the small and medium-sized financial institutions sector (regional banks, card companies, consumer finance, etc.)

ISID's own strengths are as follows:

- Extensive software package sales and systems development achievements, particularly in the finance and manufacturing industries
- Excellent results in large-scale and advanced systems integration using web-based technologies
- A customer base of over 1600 companies with strong representation among the major players in the finance industry.

  For almost 12 months since April last year, both companies have collaborated in pushing ahead with a number of projects, including the installation of Internet banking systems and RTGS (real-time gross settlement) systems in major city banks. The progress of these projects clearly justified expectations that combining ISID's strengths in implementing Internet-based technologies, particularly Java-based tools, and KISCO's development skills, based around KISCO's core networking technologies and software packages, would make it possible to construct systems more quickly and to even higher standards of quality. In addition, because there is no overlap between the two companies' customer bases, closer collaboration would develop a group synergy between ISID and KISCO in terms of both management and technology. It was on the basis of these judgments that the decision was taken to go ahead with this share acquisition.

  ISID has adopted a strategy of working actively with other companies who will complement its own management resources and thereby provide clients with total solutions. This share acquisition is fully in line with this strategy. In the years to come, ISID plans to further strengthen this group strategy with the aim of providing increased diversity and greater added value in IT solutions.

[Overview of KISCO Solutions]

Trading name: KISCO Solutions, Ltd (to be renamed as Brainyworks, Ltd. as of May 1, 2001).

Representative: Koichiro Ohtomo, President & CEO

Address: Kanebo Bldg, 3-20-20 Kaigan, Minato-ku, Tokyo 108-8080, Japan (to be relocated to Harumi Triton Square X, 1-8-10 Harumi, Chuo-ku, Tokyo as of May 1, 2001)

Business commencement date: 1 April, 2000

Main business activities:

• Software package development and sales
• System integration services
• Software sales and technical support
• System operation and maintenance, etc.
  

* Main software packages developed in house
Marketbrain (call center solutions package for financial institutions)
Property investment financing systems (agency support system for real-estate finance corporations)
COLLECTBRAIN (deferred credit management system)
Link6000 (network connection package for IBM RS6000 systems)

Settlement term:To the end of March

Staff: Approx. 300

Main operating locations:

Japan Tokyo and Osaka
Overseas New York, Chicago, London and Shanghai

Capital: 405 million yen (as at August 2000)

Total shares issued: 8,100

Major shareholders and holdings:

MBI Fund: 60%
Kanebo, Ltd: 30%
ISID: 10%

Current year results forecast:

Net sales: 10.8 billion yen (to end of March 2001)
Net ordinary income: 1.05 billion yen (to end of March 2001)

[Source and number of share acquisition]

4,860 shares from the investment enterprise incorporated partnership Advantage Partners MBI Fund 2 (general partner APM, Ltd, abbreviated as "MBI Fund 2")

[Shareholdings before and after acquisition]

Shares held prior to restructuring: 810 (10% stake)
Number of shares acquired: 4,860 (purchase price: 768 million yen)
Shares held after restructuring: 5,670 (70% stake)    

[Timetable]

March 12, 2001: Decision by board of directors
March 19, 2001: Shares transferred    

[Future outlook]

Because the KISCO share acquisition takes place on March 19, 2001, the purchase has no effect on the consolidated results for the current period (ending in March 2001).

The anticipated consolidated results for the upcoming period will be released as soon as a clear forecast is available, taking into account the repayment directives for the consolidated adjustment settlement.

[Contact]

Investor Relations Group
Corporate Planning Department

4-11-10 Nakano, Nakano-ku, Tokyo 164-8520
Information Services International-Dentsu, Ltd.

TEL: 03-3228-6160
E-MAIL: g-ir@isid.co.jp

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