Sony Bank and Sony Bank Securities Introduce a Fund Sweep Service

October 9, 2008

Sony Bank Inc., a wholly-owned subsidiary of Sony Financial Holdings, will launch a fund sweep service through its wholly-owned subsidiary, Sony Bank Securities Inc, on October 13, 2008. The new service facilitates the automatic transfer of funds arising from securities transactions between bank and brokerage.

The fund sweep service will automatically transfer cash from a customer's yen ordinary deposit account at Sony Bank to his/her account at Sony Bank Securities to pay the costs of purchasing stocks and other products, and in reverse direction when selling. Charges for purchases at Sony Bank Securities will be debited from a customer's Sony Bank's yen ordinary deposit account when the purchase order is placed, and proceeds from sales credited to his/her Sony Bank yen ordinary deposit account at delivery. In addition, the Sony Bank yen ordinary deposit account balance will reflect the customer's purchasing ability at Sony Bank Securities. In short, the customers will be able to conduct securities transactions without going through the process of transferring funds between their bank and brokerage.

The service will also allow customers to manage their assets more effectively, as charges for purchases debited from a customer's yen ordinary deposit accounts will continue to accrue interest until one day before delivery. The new service, which is free of charge, has been introduced for all Sony Bank Securities accounts.

Going forward, Sony Bank and Sony Bank Securities will continue working together to provide highly convenient securities investment services.

Note: This is an English-language summary of a Japanese announcement made by Sony Bank and Sony Bank Securities on October 9, 2008. The summary was prepared by Sony Financial Holdings Inc. solely for the convenience of non-Japanese readers.