Notes to Editors:

About Nikko Asset Management Co.2 billion) under
management, as of March 31, 2005.
"Nikkei is the strongest player in Japanese financial information market,
and we are glad to be working with the Nikkei group on this project," Ms Bush
said.

Websites submitted here must be Japan related and in English.

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As a result, the NAV of the fund has shown
steady growth and the fund has recorded a total rate of return of 18.

Dividend In principle, the fund aims to continue to make steady
Payment dividend payments. Please ask your distributor for
details.xinhuafinance.

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The fund does not hedge its 50
percent exposure to foreign fixed interest index funds. The monthly
dividend paid by the fund suits investors who like to receive stable, regular
income, similar to a pension or monthly allowance.0% excluding taxes)., Ltd.com .

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Eight additional banks plan to start distributing the
fund., The Hokuto Bank,
Ltd., Momiji
Bank, Ltd .

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Twenty five percent of the fund is
invested in J-REITs and related products, 50 percent in foreign currency
denominated fixed income products, and 25 percent in Japanese equities., The Sapporo Bank , Ltd.

Sites more on Asian culture should be submitted to the Asian Culture category.

Sites in Japanese should be submitted to the appropriate World/Japanese subcategory.

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In addition to the "Nikko Triple Fund", Nikko AM has other funds which
distribute monthly dividends, including the "Nikko Developed Countries High
Yielding Bond Open (Monthly Dividend Payment Type) / Gekkeiju (Laurel) Fund"
and the "Nikko*AMP Global REIT Fund (Monthly Dividend Payment Type)", with
total net assets under management (AUM) in this area of approximately 600
billion yen. It offers approximately 230 public
investment trusts, ranging from basic to innovative products, to meet the
diversified needs of retail and institutional investors.

Cancellation The amount (per unit) calculated by multiplying
Charge the NAV at the time of conversion by the rate of 0., The Joyo Bank, Ltd.

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, Ltd.

Subscription NAV on the business day following the date of
Price subscription., The Shokusan Bank , Ltd., The Yamaguchi
Bank, Ltd., Nikko Cordial Securities Inc.
The book , to be called "The Industrial Map of China 2004-2005" will be
published by Nihon Keizai Shimbun, Inc. The new directory follows the
announcement of a weekly financial news program on RADIO NIKKEI to be
sponsored by Xinhua Finance to be launched on April 3.com

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The "Nikko Triple Fund" is a unique fund developed by Nikko AM.

Cancellation 1 unit (Note: The cancellation unit may vary with
Unit different distributors.

Appendix 2: Outline of Trust Company and Other Relevant Companies

Trust Company Nikko Asset Management Co., The Kagawa Bank, Ltd. TOKYO, Xinhua Finance
(TSE Mothers: 9399), China's premier financial services and media company,
today announced that it cooperates with Nihon Keizai Shimbun (Nikkei) to
publish a directory on Chinese industry sectors.
It will be sold in bookshops throughout Japan and through the Nikkei
newspaper itself.

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Nikko AM has assets totaling 6.

(1) Calculated on the basis of pre-tax dividends being re-invested, as of
May 16, 2005

(2) Per 10,000 units, pre-tax

For more information, see http://www.

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18
percent(1) since it was launched.
Additionally, Nikko Alternative Asset Management, Inc.

Trustee NikkoCititrust Trust and Banking Corporation
Distributors As of May 17, 2005, distributors include The Oita Bank,
Ltd., Monex Beans,
Inc.

Xinhua Finance Cooperates with Nikkei on China Industries Directory

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The fund has mainly been purchased by investors at banks, as a result of
the popularity of its simplicity and monthly dividend payments , based on its
diversified structure. The number of distributors of the fund has grown
rapidly .15% (3.

Non- It is not possible to subscribe to the fund on a day when
Subscription the New York Stock Exchange is closed., The Tottori Bank,
Ltd ., The Musashino Bank, Ltd.

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("Nikko
AM") (Timothy McCarthy, Chairman and CEO) announced today that the total net
assets of the "Nikko Triple Fund (Property Bond Equity) Monthly Dividend
Payment Type" (Nikko Triple Fund) have exceeded 100 billion yen for the first
time since it was established approximately a year and 9 months ago, reaching
approximately 100. As of May 17,
Commission 2005, distributors' sales commission totaled a maximum of
3., The Shonai
Bank, Ltd. and livedoor Securities Co., which will
commence on June 1, 2005.com

Mr Jason Rando
Tel: +1-646-536-7025
Email: jrando@theruthgroup .

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However, as the
remaining 50 percent of its assets are invested in yen denominated products
(J-REITs and Japanese equities), this forms a natural hedge, giving the fund a
well-diversified currency exposure.

Dividend 10th of each month (or the following business
Declaration day when the 10th of the month falls on a holiday)., The
Bank of Saga, Ltd ., The
Toho Bank, Ltd., The Towa Bank, Ltd.

Eight additional banks plan to start distributing the
fund, including The Tokushima Bank, Ltd . with information on Chinese industry
provided in Japanese by Xinhua Finance.

chiba nara

,
The Miyazaki Bank, Ltd.

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It
invests in JREITs and index funds in each case.
Since its launch, it has paid 19 monthly dividends totaling 880(2) yen, and
over the past year, it has paid a dividend of 50 yen each month. ("NAAM"), a
subsidiary of Nikko Asset Management, provides alternative investments
expertise and solutions to investors.

Appendix 1: Details of the Fund

Name Nikko Triple Fund (Property Bond Equity) Monthly Dividend
Payment Type

Structure Open-end equity investment trust / Fund of funds /
Automatic renewal investment applicable

Major The major target investments are investment trust
Investments securities. In principle, the
dividend is paid from the fifth business day following the
dividend declaration day.

Fee Calculated by multiplying the net total assets by an
annual rate of 0.95% excluding taxes)., Yamagata Shiawase Bank, Ltd. All information included is
categorized according to the widely accepted Global Industry Classification
Standard (GICS).
Founded in 1999, the Company is headquartered in Hong Kong and has 21
offices and 19 news bureaus across Asia, Australia, North America and Europe.

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Nikko AM will continue to provide products that contribute to the
wealth creation of all its clients. ("Nikko AM")
Established over 45 years ago, Nikko AM is a leading Japanese asset
management company, offering investors a full array of investment management
products and advisory services. Its investment trusts are distributed through
a network of approximately 200 partner securities companies and banks.)

Cancellation NAV on the business day following the cancellation date
NAV less the cancellation charge., The Gunma Bank, Ltd.

minamoto 209

It was launched in August 2003. The company employs
over 300 people in Tokyo, New York, London and Singapore.

Subscription Calculated by multiplying the subscription price by the
Amount number of units subscribed to, plus the sales commission
and consumption taxes and the like related to the
commission .

Sales Sales commission is set by the distributors.

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The fund aims for stable growth by targeting assets which provide
stability, liquidity and profitability. NAAM provides investors access to
internally developed products, as well as to external, individual hedge funds
and fund of hedge funds, through its "AlphaPlus" line of products.

Subscription From October 9 , 2004 to October 7, 2005., The Minato Bank, Ltd. The Company provides financial news and information , as well
as a broad array of financial products and services unique to the China
markets. Xinhua Finance provides real time coverage of Chinese and Asian
equity markets, delivering an integrated platform of China-specific indices,
financial news feeds, credit ratings, and investor relations services to
global financial institutions and re-distributors via leased line, Internet,
and satellite technology.com

US
The Ruth Group (PR Contact in the US)
Mr Gregory Tiberend
Tel: +1-646-536-7005
Email: gtiberend@theruthgroup.

kanagawa asahi

NAAM's
alternative investments experience spans over a decade. When reinvesting dividends,
no commissions are charged on the units acquired through
the reinvestment of dividends.

When dividends are re-invested, dividends are paid after
tax , and are automatically re-invested and no commissions
are charged., The Chiba Kogyo Bank, Ltd.
Xinhua Finance Japan Managing Director Kogi Chiba said that the book was a
natural progression of Xinhua Finance's position as the premier provider of
China financial information in the Japan market.

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The
firm offers investors access to both Nikko AM's funds that invest mainly in
Japanese equities, fixed income, and REITs and, through its third-party sub-
advisory platform , "World Series", access to a global range of top-performing,
independent asset managers over a diverse range of asset classes. Please ask your
Days distributor for details.3%., The Yamanashi Chuo Bank, Ltd. "It allows us to fully leverage the rich information resources that
Xinhua Finance possesses on China's corporate market and industry sectors.

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, The Minami-Nippon Bank, Ltd., Ltd.
Xinhua Finance CEO Fredy Bush said she was delighted to be cooperating
with the Nikkei group on another venture.

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618 billion yen on May 16, 2005. The fund
invests in three asset classes -- real estate investment trusts ("REITs"),
fixed income products, and equities. Please ask your distributor for details. After from
Period October 8, 2005, the offering period will be revised in
the newly submitted prospectus."

About Xinhua Finance Limited
Xinhua Finance Limited is China's premier financial services and media
company, listed on the Mothers Board of the Tokyo Stock Exchange
(symbol: 9399).

chiba japan

, Ltd.7 trillion yen ($62.

When dividends are distributed, the dividend is paid from
a day determined by the trust company within a month of
the closing of the calculation period.

Settlement In principle, payment shall be provided from the fifth
Date business day after the date of the receipt of the request
for cancellation ., The Nishi-Nippon City Bank, Ltd.tsang@xinhuafinance.

This category is for sites that deal with Japanese society and culture.

koto kanagawa

The "Nikko Triple Fund" distributes dividends, interest, and other income
gains, as well as any capital gains generated by the fund, on a monthly basis. It is currently being distributed by 24 banks and three securities
companies nationwide.

Subscription The subscription unit varies, depending on the
Unit distributor.
"The publication of "The Industrial Map of China 2004-2005" reflects the
growing demand in Japan for reliable information on China's economy and
particularly on companies and industry sectors," Mr Chiba said.

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Total Net Assets of Nikko Asset Management's 'Nikko Triple Fund' Exceed 100 Billion yen

- Easy to Understand , Three-way Diversification Concept
and Marketing Capabilities of Distributor Banks Contributing -

TOKYO, Nikko Asset Management Co.
In February 2005, Nikko AM's expertise in asset management was recognised
when the company received the Lipper Award for Best Fund Group, based on its
outstanding performance in three asset class categories: equity funds, fixed
income funds and mixed asset funds.

Trust Period Indefinite (commenced on August 5, 2002).9975% (0 .,
The Daisan Bank, Ltd., Bank of The
Ryukyus, Ltd.

For further information,

JAPAN
Mr Sun Jiong
Tel: +81-3-3500-5328
Email: jsun@xinhuafinance.com

HK
Ms Joy Tsang
Tel: +852 3196 3983 or +852-9486-4364
Email: joy.