Tokyo, Japan, June 8, 2007 ? (JCN Newswire) ?PhillipCapital Japan announced the successful initial closing of PhillipCapital Global I Limited Partnership, its first venture capital fund in Japan as of May 31, 2007. PhillipCapital Global I will invest initially in GVC V LP, a fund managed by Global Venture Capital focusing on early stage investments in companies in Japan as well as overseas. Total committed capital for the venture fund as of the initial closing is 1.7 billion yen.

About The PhillipCapital Group

PhillipCapital is a group of companies which offers a full range of quality and innovative financial services to retail, corporate and institutional customers. PhillipCapital is an integrated financial services provider with approximately 3500 staff in Asia and Europe and total shareholders’ funds in excess of US$1 billion. In Japan, member companies include PhillipCapital Japan, PhillipCapital Real Estate Japan, Phillip Financials, Phillip Futures and Naruse Securities. For more information, please visit http://www.phillipcapital.co.jp.

About Global Venture Capital

GVC is an independent, Tokyo-based partnership in the business of managing venture capital funds. The individuals constituting GVC have been active in entrepreneurship, venture capital and private equity globally for over 20 years. Since 1997, GVC has been responsible for managing a series of venture capital funds with total committed capital of 6.3 billion yen, which has been directly invested in over 30 companies both inside and outside of Japan. Direct investments in portfolio companies have resulted in six IPO's to date. As a result, GVC has achieved a gross, aggregate IRR of well over 100% for its investors. For more information, please visit
http://www.gvc.jp/.

Contact:

Mariko Koike
PhillipCapital Japan KK
Tel: +81-3-3595-3640
Fax: +81-3-3595-3630
e-mail: info@phillip.co.jp
URL: http://www.phillipcapital.co.jp