Receipt of Government Approval and Amendment to Tender Offer for Shinsei Bank

JCN Newswires, Dec 25, 2007

Tokyo, Japan, Dec 25, 2007 - (JCN Newswire) - Shinsei Bank, Limited (TSE: 8303), today announced that the Prime Minister of Japan has granted approval to investors including newly formed investment vehicles (the "Tender Offerors") and certain affiliates of J.C. Flowers & Co. LLC to become major shareholders of Shinsei Bank under the Banking Law of Japan.

Receipt of these approvals was a condition to the tender offer currently being conducted by the Tender Offerors for up to 358,455,953 common shares (representing 22.7%) of the currently outstanding common shares of Shinsei Bank at a tender offer price of 425 yen per share.

An amendment to the tender offer registration statement reflecting receipt of government approval also extended the tender offer period to continue through January 17, 2008, instead of the original completion date of January 10, 2007. The tender offer price and the number of shares of Shinsei Bank sought to be purchased remain unchanged.

Shinsei Bank shareholders seeking further information on the procedures for tendering may contact the tender offer agent, Nikko Citigroup Limited, or the tender offer sub-agent, Nikko Cordial Securities Inc. For individual shareholders, Nikko Contact Center which is operated by Nikko Cordial Securities Inc., is in service to respond to shareholders' queries regarding the procedures for tendering.

Nikko Contact Center (for individual shareholders use only)

Toll Free Dial: 0120-250-959

Period: Tender offer period (expected to be from November 22, 2007 to January 17, 2008) from 9 a.m. to 5 p.m. (Except for Saturday, Sunday and national holidays.)

* To request application forms for the tender offer, shareholders should contact the call center in person.

About Shinsei Bank

Shinsei Bank is a leading diversified Japanese financial institution providing a full range of financial products and services to both institutional and retail customers based on a three-pillar strategic business model comprising institutional banking, consumer and commercial finance and retail banking. The Bank has total assets of US$107 billion on a consolidated basis (as of September 2007) and a network of 43 outlets that includes 36 Shinsei Financial Centers, 2 Platinum Centers and 5 BankSpots in Japan. Shinsei Bank demands uncompromising levels of integrity and transparency in all its activities to earn the trust of customers, staff and shareholders. The Bank is committed to delivering long-term profit growth and increasing value for all its stakeholders. News and other information about Shinsei Bank is available at www.shinseibank.com/english/index.html.> Source: Shinsei Bank

Shinsei Bank, Limited
Tel:  81-3-5511-5511