5.76%
Japan Trustee Services Bank, Ltd.

The principal reasons for the above resolution are set out in the
"Notice of Approval of the Tender Offer for Shares of the Company"
dated January 17, 2005.

(Reference)

Summary of the Tender Offer as amended by the Amendment by Fuji
Television Network, Incorporated for shares of the Company

(1) Class of Shares to be Purchased:
Common Shares

(2) Tender Offer Period:
January 18, 2005 (Tuesday) to March 2, 2005 (Wednesday)/1/

(3) Purchase Price:
5,950 yen per share

(4) Minimum Number of Shares Planned to be Purchased:
4,135,341 shares/2/

(Note) If fewer than 4,135,341 shares are tendered, Fuji TV will
not be obligated to purchase any of the shares.00%)

(Note 1) The number of shares held after the Tender Offer is the
number of shares Fuji TV will hold if it purchases 4,135,341 shares ,
which is the minimum number of shares planned to be purchased.

seta entrusted

In this connection, the Company hereby announces that
its Board of Directors at a meeting held this February 16, 2005
adopted a resolution recommending acceptance of the Tender Offer as
modified by the Amendment, in keeping with the original recommendation
of the Company's Board of Directors made on January 17, 2005.51%
Toho Co.51% of the outstanding
shares of Fuji TV.

Operational relationship: Fuji TV and the Company
collaborate in the management of
a studio to produce programs.

2.

(5) Changes in Number of Shares Held by Fuji TV

Number of Shares Held Prior to Tender Offer:
4,064,660 shares (ownership ratio 12., Ltd.

entrusted oda

The Foundation's "What Works in Enterprise-Based Solutions to
Poverty" program is a new initiative, conceived to promote public
understanding of how entrepreneurship and market reforms can alleviate
poverty and accelerate its disappearance in areas of the world where
it has been most oppressive and endemic.

dti icl

, Ltd.

statutory compensates

(Note) There are no amendments to the above summary of offeror. The reasons for the resolution of the Board of
Directors of the Company on February 16, 2005 recommending acceptance
of the Tender Offer, as amended by the Amendment, are: (i) reduction
of the minimum number of shares required to be tendered in the Tender
Offer will increase the chances of the successful completion of the
Tender Offer, and (ii) the reorganization of the management structure
in the future will make selection and concentration of management
resources of the group, in which Fuji TV will be the core entity , more
flexible and effective by enhancing the Company's capital relationship
with Fuji TV through the Tender Offer.39%)

Minimum Number of Shares Held After Tender Offer:
8 ,200,001 shares (ownership ratio 25.

vested statesmen

I.

(6) Date of Public Notification:
January 18, 2005 (Tuesday)

(7) TOB Agent:
Daiwa Securities SMBC Co., Ltd.

-0-

/1/ The Amendment extended the original offer from February 21,
2005 to March 2, 2005 .

statutory secretariat

George Mason University Mercatus Center, Arlington VA, for
"Enterprise Africa," a joint project with Free Market Foundation,
South Africa, and London-based Institute for Economic Affairs, to
document and communicate the successes of African entrepreneurs and
small businesses, as well as the challenges and barriers they face. For more information:
www. Approval of the Tender Offer

1.

thabo citizenry

----John Templeton
Foundation has awarded prizes of $1.

fasset citizenry

Philanthropy Writers/Business Editors

CONSHOHOCKEN , Pa. Fuji TV
independently determined the purchase price of the Tender Offer.

thabo secretariat

cidb citizenry

africans secretariat

5 million to three prominent think
tanks in support of initiatives that explore what works in
enterprise-based solutions to poverty.
The John Templeton Foundation actively supports research and
programs that encourage a greater understanding of the free enterprise
system. Summary of the Offeror

(1) Trade Name: Fuji Television Network, Incorporated

(2) Main Business: Television broadcasting pursuant to the
Broadcast Law

(3) Date of Incorporation: November 18, 1957

(4) Address of Head Office: 2-4-8, Daiba, Minato-ku, Tokyo

(5) Representative: Koichi Murakami, President and Chief
Operating Officer

(6) Amount of capital: 106,200,000,000 yen (as of September 30,
2004)

(7) Major Shareholders and Shareholding Ratio (as of September
30, 2004):

Nippon Broadcasting System , Incorporated 22.

(Note 3) The ownership ratio is calculated based on 32,800,000
shares as the total number of the outstanding shares of the Company
(as of September 30, 2004), and the ratio of voting rights held is
calculated based on 3,272,418 voting rights, which is the result of
adjusting for 10 shares constituting one "unit" and applying number of
total outstanding shares of the Company (32,800,000 shares as of
September 30, 2004) minus the number of treasury shares held by the
Company (75,820 shares).
Daiwa Securities Co. (sub-agent)

(Note) Daiwa Securities SMBC Co.

amend entrusted

org

mbeki statutory

Nippon Broadcasting System Inc. Announces Notice of Approval of the Tender Offer for Shares of the Company

Business Editors

TOKYO----Nippon Broadcasting System,
Incorporated (the "Company") passed a resolution at the meeting of its
Board of Directors held on January 17, 2005 recommending acceptance of
the tender offer for the common shares of the Company by Fuji TV
Television Network, Incorporated ("Fuji TV") that was announced on
January 17, 2005 (the "Tender Offer").38%
The Master Trust Bank of Japan, Ltd.

mbeki africans

John Templeton Foundation Awards $1.5 Million In Support of Enterprise Solutions to Poverty

Winners of the Templeton Foundation "What Works in
Enterprise-Based Solutions to Poverty" awards are:

Fraser Institute, Vancouver BC, Canada, for a new initiative to
measure economic freedom and how free enterprise throughout the Arab
world is lifting individuals and families out of poverty in
partnership with the Arab Business Council.39% of the
outstanding shares of the
Company, and the Company owns
22. If more than 4,135,341
shares are tendered, Fuji TV will purchase all of the shares tendered;
provided, however, that there is no plan for the treasury stock held
by the Company (75,820 shares) to be subject to the Tender Offer.

mbeki citizenry

parliamentary vested

The Independent Institute, Oakland CA, for a project to create a
new Center for Global Prosperity, under the leadership of Alvaro
Vargas Llosa, author of Liberty for Latin America, to examine how
market-based institutions are helping to reduce poverty in Latin
America and elsewhere.templeton.

Personnel relationship: Four (4) directors of Fuji TV are
concurrently working as directors
of the Company, and one (1)
full-time statutory auditor of
Fuji TV is concurrently working
as a part-time statutory auditor
of the Company.

amended citizenry

(trust account) 3., Ltd.

fasset icl

On February 10, 2005, Fuji TV
announced an amendment to the terms of the Tender Offer (the
"Amendment"). Details of the Opinion on and Purpose of the Tender Offer

The Company passed a resolution at the meeting of its Board of
Directors held on February 16, 2005 recommending acceptance of the
Tender Offer originally approved by the Company's Board of Directors
held on January 17, 2005 as modified by the Amendment. The Company determined that the
Tender Offer as amended by the Amendment is in the best interests of
the Company and its shareholders, customers, business partners, and
employees.

fasset cidb

Founded in 1987, John Templeton Foundation annually provides more
than $60 million in funding on behalf of work in human sciences and
character development, science and theology research, as well as free
enterprise programs and awards worldwide.

cidb vested

mbeki tenders

Therefore , the maximum number of shares that may be acquired by Fuji
TV through the Tender Offer is 28,659 ,520.

(Note 2) If shareholders tender more than the minimum number of
shares planned to be purchased, Fuji TV will purchase all shares of
the Company so its shareholding ratio after the Tender Offer will be a
maximum of 100%.

africans entrusted

Each of the winners will receive $500,000 in support of their
initiatives to address global poverty.
(trust account) 4.83%
Nippon Cultural Broadcasting Inc.06%

(8) Relationship with the Company:

Capital relationship: Fuji TV owns 12.

africans thabo

dti seta

holds approximately 8% of
the outstanding shares of Nippon Broadcasting System.
/2/ The Amendment reduced the minimum number of shares to be
purchased from 12,335,341 to 4,135,341 shares.