Sony Bank Announces Environmental Measures

April 1, 2008

Sony Bank Inc., a wholly-owned subsidiary of Sony Financial Holdings, today announced participation in a green power certification system* from April 2008 as one of its environmental protection activities. To this end, the bank has acquired "green power certificates" corresponding to 1.1 million kWh—the entire amount of electricity consumed by the bank during a year (excluding energy consumed by operations that are outsourced). Also, on April 21, 2008, the bank will begin specifying some of its investment trusts as "target funds", through which customers can help reduce the production of greenhouse gases.

Japan Natural Energy Co., Ltd., will issue to the bank green power certificates corresponding to 1.1 million kWh in cooperation with Sony Corporation. As a result, Sony Bank will become a "100% carbon-offsetting bank"—and the first Japanese bank** to derive all its electrical power from renewable energy sources. This purchase is expected to effectively reduce greenhouse gas emissions by approximately 400 tons per year.

In addition, on behalf of each customer who owns more than a specified amount of its target funds, Sony Bank will purchase emission rights*** for donation to the Japanese government. In this manner, each of Sony Bank's customers can help reduce the production of greenhouse gases. As Sony Bank will purchase these emission rights using a portion of the sales commissions and trust fees that it generates through the sale of target funds, customers can participate in environmental protection activities as they invest their assets. The target funds will be introduced on the MONEYKit service site from April 21, 2008.

Sony Bank is now creating an environmental management system as part of its efforts toward ISO environmental management certification. Specifically, the bank sets targets for the conservation of energy and natural resources, as it works to reduce power consumption and use of copy paper. In addition to generating economic benefits through interest rates and commission fees, Sony Bank aims to gain customer support through its environmental endeavors.

Notes:
* A "green power certification system" is a system that enables companies and other power-consuming entities to commission power generation using geothermal, wind, water, solar, biomass and other renewable energy sources by bearing the costs of this generation. Power generated from such sources is sold to nearby power utilities, and "green power certificates" are issued to entities that underwrite the costs of such generation, thereby contributing to renewable generation and helping reduce their environmental impact. Certification consequently allows companies to contribute to the proliferation of power generation using renewable energy, by effectively consuming green electricity without operating power generation equipment directly.

** According to Sony Bank's research (as of April 1, 2008)

*** Emission rights are the result of the Clean Development Mechanism (CDM), an arrangement under the Kyoto Protocol whereby the United Nations allows industrialized countries with a greenhouse gas reduction commitment to reduce emissions in developing countries as an alternative to emission reductions in their own countries. Sony Bank is considering the purchase of emission rights from Sumitomo Mitsui Banking Corporation.

Note: This is an English-language summary of a Japanese announcement made by Sony Bank Inc. on April 1, 2008. The summary was prepared by Sony Financial Holdings Inc. solely for the convenience of non-Japanese readers.