Shinsei Bank Declares Organizational Changes

Shinsei Bank, Limited, ("Shinsei") has announced the following organizational changes 1. Organizational Changes a) Corporate Governance Group1) The Corporate Governance Group shall be dissolved and the Office of Corporate Secretary,Compliance Division, Legal Division, General Services Division and Credit Assessment Division

By None

Shinsei Bank, Limited, (“Shinsei”) has announced the following organizational changes:

1. Organizational Changes

a) Corporate Governance Group1) The Corporate Governance Group shall be dissolved and the Office of Corporate Secretary,Compliance Division, Legal Division, General Services Division and Credit Assessment Division shall become independent divisions that do not belong to any Group.2) The Office of Affiliate Administration and Office of Regulatory Relations shall be integrated with the Office of Strategy Management, and incorporated into the Corporate Planning Division, which will be newly established as an independent division to enhance the strategic planning and implementation capabilities of the overall Shinsei Bank Group.

b) People and Communications Group1) The People and Communications Group shall be dissolved.2) The Office of Chief Learning Officer shall be integrated with the Human Resources Division.3) The Corporate Value Division will allocate its necessary functions to the Corporate Communications Division. The Corporate Communications Division will be integrated with the Group Investor Relations Division, currently under the Finance Group, which shall be newly established as an independent division as the Group Investor Relations & Corporate Communications Division.

c) Institutional Group1) Change of Japanese nameThe Japanese name of the Institutional Group shall be changed to Houjin Shouhin Bumon. The Japanese name of the Institutional Group Management Division shall be changed to IG Kanri Bu.2) Advisory Sub-Groupi) The International Corporate Banking Division shall be dissolved upon transfer of the loan section to the Institutional Business Sub-Group.ii) The Transaction Development Department shall be newly established within the Solution Advisory Division by incorporating the Transaction Development Team, which is currently located under the Advisory Sub-Group. The Transaction Development Department will promote the M&A business by focusing on small- and medium-sized deals.

2. Effective Datesa), b) and c) – 1): March 11, 2009;c) – 2): April 1, 2009

D.C.

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