Steel Partners Provides Aderans’ Shareholders Further Information Regarding Plans for Operational Improvement

Business Wire, May 14, 2009

Steel Partners stressed that the 2009 AGM will determine the future direction of the Company, stating, “The deadline to vote is rapidly approaching. Don’t delay, your vote is very important.”

DISCLAIMER:

Please note that this release is intended for the purposes of conveying our views to the public including fellow shareholders of Aderans Holdings Co., Ltd. (“Aderans”). While this includes our intention to encourage fellow shareholders to cast their votes against certain proposals by Aderans and in favor of our proposal by either attending the upcoming annual general meeting of Aderans or using the voting card enclosed with the convocation notice from Aderans, it is not intended and should not be considered to solicit, encourage, induce, or seek for fellow shareholders to authorize Steel Partners or any other third party as their proxy in exercising their voting rights on their behalf.

About Steel Partners

Steel Partners Japan Strategic Fund (Offshore), L.P. is a long-term relationship/active value investor that seeks to work with the management of its portfolio companies to increase corporate value for all stakeholders and shareholders.