Aozora Bank Announces Common Shares Buyback Progress

Aozora Bank, Ltd, a Japanese commercial bank, has announced the progress of the buyback of its common shares for the period from March 2, 2009, until March 31, 2009. The buyback is being conducted in accordance with the resolution passed

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Aozora Bank, Ltd, a Japanese commercial bank, has announced the progress of the buyback of its common shares for the period from March 2, 2009, until March 31, 2009. The buyback is being conducted in accordance with the resolution passed at the Board of Directors meeting held on October 27, 2008. Details of the repurchase are as below.

(1) Type of shares repurchased: Common shares of the Bank(2) Aggregate number of shares repurchased: 37,849,000 shares(3) Aggregate repurchase amount: 3,915,154,000 yen(4) Repurchase period: From March 2, 2009 to March 31, 2009(5) Method of repurchase: Purchase on the Tokyo Stock Exchange through a fund trust

Details of the buyback resolved at the Board of Directors meeting held on October 27, 2008:

(1) Type of shares to be repurchased: Common shares of the Bank(2) Aggregate Number of shares to be repurchased: Up to 165 million shares (10% of the total number of common shares issued and outstanding)(3) Aggregate repurchase amount: Up to 20 billion yen(4) Repurchase period: From November 17, 2008 to November 16, 2009

The total progress to date of the above-mentioned buyback for the period from the implementation date of November 17, 2008, until March 31, 2009 is as follows:

(1) Aggregate number of shares repurchased: 155,875,000 shares(2) Aggregate repurchase amount: 15,647,148,000 yen

D.C.

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