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                      | HITACHI HOME | UP | SEARCH | HITACHI

                      News Release ^
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                      July 12, 1999

                      Industrial Bank of Japan and Hitachi reach agreement covering sale and provision of CMS solutions

                      -- CMS solution ITss to be provided via TWX-21 business media service --

                      Hitachi, Ltd. and the Industrial Bank of Japan (IBJ) have entered into an agreement under which, 
                      starting in July, the companies will use Hitachi's high-reliability TWX-21 business media service
                       to jointly market CMS solution Integrated Treasury support services (ITss) utilizing each group 
                      companies.
                      This agreement will make it possible to provide more integrated, effective support to TWX-21 
                      members, which currently number some 1,500 companies, improving the efficiency of their 
                      operations and reducing costs, while ITss will enable them to strengthen their financial structure
                      
                      In recent years, the Internet and other information communication technologies have been 
                      permeating throughout society, and corporate activities are becoming increasingly borderless and 
                      globalizing at an ever faster pace.  This has generated a need for highly reliable corporate 
                      extranets and business applications that allow such developments to be coordinated while moving 
                      ahead with implementation.  At the same time, on the financial affairs side, the growing need for 
                      increased management efficiency at the corporate group level means that companies are having 
                      to tackle consolidated financial accounting, cash flow management and other new management 
                      methods and techniques.
                      Since fiscal 1998, IBJ has been using Internet-based communication links with corporate 
                      group companies to build intra-corporate banks, making optimum use of the convenience and 
                      settlement functions of main and regional banks, to thereby provide commercial Integrated 
                      Treasury support services relating to asset concentration, proxy payment, residual asset utilizatio
                      n,group finance management and netting.
                      By enabling a corporate group to centralize its cash flow management, the introduction
                      of ITss makes it possible to efficiently utilize excess funds produced by the circulation of funds 
                      within the group, reduce interest-bearing loans and decrease financial costs.
                      
                      In 1997, Hitachi launched TWX-21 as Japan's first extranet-based business media service, 
                      and since then has started a number of business application services that include estimate support,
                      exchange of drawings and specifications, order reception support, comprehensive transfer of 
                      funds, distribution operations and electronic commerce in addition to the implementation of 
                      network infrastructures and business platforms.
                      TWX-21 also facilitates the development of partnerships by using tie-ups between Hitachi 
                      and other service providers to bring new services to member companies.
                      The new marketing agreement will make it possible to provide services that combine IBJ's 
                      ITss cash management system service with Hitachi's TWX-21 business media service.  This will 
                      give member companies access to a broad-based menu of services ranging from design, purchase 
                      of materials and sales to settlement and utilization of funds, enabling, for example, a sequence of
                      purchase transaction operations such as checking of product information, ordering and payment 
                      to be seamlessly implemented over the Internet.
                      
                      
                      
                      


                      WRITTEN BY Secretary's Office
                      All Rights Reserved, Copyright (C) 1999, Hitachi, Ltd.

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