RNS Number:3030L
Takefuji Corporation
20 May 2003


For release Immediately

Representative Akira Kiyokawa, President

Contact Investor Relations

Tel 81333658011 Fax 81333658070

Stock Code No 8564 TYOSE



TAKEFUJI CORPORATION TO ISSUE JPY 33 BILLION EUROYEN CONVERTIBLE BONDS


On May 20th, 2003 Tokyo, Japan

Takefuji Corporation ("Takefuji" or the "Company") announced today that it
has launched an offering of Euroyen Convertible bonds with an aggregate
principal amount of Y33 billion, convertible into the common stock of the
Company. The bonds will be due in July 2006. Takefuji has also granted the
Bookrunner, Credit Suisse First Boston, an option to purchase additional bonds
with a principal amount of Y50 bn, exercisable on or before June 4th 2003 (the
over-allotment option). The subscription period is expected to end by close of
business today. However, Credit Suisse First Boston reserves the right to close
subscription at an earlier time. The offering is being made to institutional
investors outside of the US, Canada and Japan.

Terms and Conditions

The bonds will be priced at 102 per cent of their principal amount and will not
bear a coupon. The initial conversion price is expected to be set at a premium
of 35% to 45% to the closing share price on the Tokyo Stock Exchange, which was
Yen6,570.-. Payment and settlement is expected to be on June 6th 2003. Unless
previously redeemed, purchased or cancelled, the bonds will be redeemed by the
Company at their principal amount on 31st July 2006. The bonds will be
convertible on or after July 1st 2003, up to and including the close of business
on July 18th 2006.

Listing

Application has been made to the UK Listing Authority for the bonds to be
admitted to the Official List and to the London Stock Exchange for the bonds to
be admitted to the London Stock Exchange's market for listed securities.

Use of proceeds

The net proceeds of the bonds will be applied principally towards working
capital.

Overview

Founded in 1966, Takefuji is Japan's largest consumer finance company in terms
of outstanding loan balances. It provides unsecured cash loans to more than 2.8
million individual borrowers through a nationwide network of 529 manned and over
1350 unmanned branch offices. The company's shares are listed on the First
Section of the Tokyo Stock Exchange and on the London Stock Exchange.

This press release is not an offer of securities. The securities will not be
offered for sale in the United States, Canada, or Japan. The securities may not
be offered or sold in the United States or to, or for the account or benefit of
US persons (as such terms are defined in Regulation S under U.S. Securities Act
of 1933 as amended.) Any decision to purchase any securities mentioned in this
press release should be made only on the basis of an offering circular to be
issued in connection with the offering, and not this press release.

Stabilisation/FSA

This press release has been issued by Takefuji Corporation and has been approved
solely for the purposes of Section 21 of the Financial Services and Markets Act
2000 by Credit Suisse First Boston (Europe) Limited of One Cabot Square London
EC14 4QJ.

CSFB is acting for the Company and no one else in connection with the bonds and
will not be responsible to any other person for providing the protections
afforded to clients of CSFB, or for providing advice in relation to the bonds.






                      This information is provided by RNS
            The company news service from the London Stock Exchange

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IODSEFSASSDSELI