Power 10
Booking for Power 10 is currently not available.
Power 10 Product Description As of June 2, 2006

1. Product
Structured Deposit / Yen Time Deposit with special advanced redemption (up to 10-yr maturity) <Target return type> <Under name of: Power 10>

2. Conditions
Individual customers with PowerFlex account.

3. Currency
Yen

4. Deposit term
10 years. However, this deposit can be redeemed in advance (stated below on 11). There will be no automatic renewal at maturity.
*For this deposit, the bank's prescribed booking period will be provided. The "final maturity date" will be 10 years from the first business day after the closing date for booking period. In case advanced redemption does not happen, number of days from the deposit date to final day for booking period in addition to "10 years" (state above) will be the actual deposit term. Please check the actual deposit date and final maturity date when you apply.

5. Base date of calculation start date
In principle, the first business day after the closing date for booking period is the base date for calculation of start date. It is also the start date of the 1st interest calculation period. Interest of this deposit will be paid for the deposit term from the base date of calculation start date.

6. Deposit method
Lump sum deposit. However, it is limited to transfers from PowerFlex Yen Savings Deposit.

7. Minimum deposit amount / unit
Deposit from Financial Center 5,000,000 yen or more. Unit : 10,000 yen
Deposit from Shinsei PowerCall (telephone banking) 3,000,000 yen or more. Unit : 10,000 yen
Deposit from Shinsei PowerDirect (online banking) 500,000 yen or more. Unit : 10,000 yen

8. Principal withdrawal method
According to the presence of advanced redemption stated below on (11), principal will be deposited to your PowerFlex Yen Savings Deposit on the final maturity date or on advanced redemption date.

9. Applicable interest / interest calculation term
1st interest calculation period:
1st interest calculation period is from the base date of calculation start date to the preceding day of 1 year after the base date of calculation start date (*1). Pre determined interest rate (fix) at deposit will be applied.
*1 If base date of calculation start date corresponds to a Tokyo or London holiday, the following business day will be the initial date of interest calculation period. In case the following business day is the following month of the month of corresponding date, the prior business day or relevant corresponding date, will be the initial date of interest calculation period

From 2nd interest calculation period onward:
2nd interest calculation period is from the following day of the prior interest calculation period final day to the prior day of 1 year after the base date of calculation start date (*1). Applicable interest rate will be calculated in the following method (stated below) on 2 business days, in London, prior to the first date of each interest calculation period.

Calculation: α% (*2) - 12-month JPY Libor (*3) Χ2 (0% or more)

10. Target return rate
Target return rate is determined at deposit, which is a simple total of applicable interest (before tax/ p.a.) for each interest calculation period during the base date of calculation start date to final maturity (if advanced redemption applies, advanced maturity date will be applied). Regardless of advanced redemption, the total amount of paid interest (before tax) will be the amount is fixed as "Target return rate" multiplier by deposit principal. Also, "Target return rate" is a criteria for whether "Special advanced redemption", stated below on (11), will be applied or not. Please contact Shinsei PowerCall or the branch for further details on Target return rate.

11. Special advanced redemption
In case simple total of applicable interest (before tax/ p.a.) for each interest calculation period during the base date of calculation start date to final maturity (if advanced redemption applies, advanced maturity date will be applied) sums up to "Target return rate", the date following the day of interest calculation period's final date will be the advanced maturity date for this deposit.

12. Interest payments
Interest for 1st interest calculation period:
Paid after the following day of 1st interest calculation period final day.

Interest for 2nd interest calculation period:
Paid on the final maturity date. In case deposit is redeemed in advance, interest will be paid on the advanced maturity date. Interests will be deposited to your PowerFlex Yen Savings Deposit respectively. Please note that interest from 2nd interest calculation period onward will not be paid until the final maturity (if advanced redemption applies, advanced maturity date will be applied).

13. Interest calculation method
Each interest calculation is in units of 10,000 yen on a 12-month a year basis from the first date of each interest calculation period to the final date. Fractions will be discarded.

14. Calculation before maturity
Cancellation of this deposit before maturity is strictly forbidden. However, if there is a strong need where we find the necessity of cancellation, we will cancel the deposit and principal will be deposited to your PowerFlex Yen savings account by deducting all of the cost occurred to the bank calculated by our original formula, from the deposit. Please have in mind that in this case, your principal is not guaranteed.

15. Deposit Insurance
This product is subject to deposit insurance.

16. Tax
20% withholding tax will be deducted from the interest. This product is not subject to "Maruyu" tax exemptions.

17. Overdraft service
This deposit is subject to overdraft service for PowerFlex account.

18. Others
Results for applicable interest after the 2nd interest rate calculation period and advanced redemption determination, please check the "Report sheet" which is delivered separately after the applicable interest rate is determined for each interest calculation period.
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The English translation used in the product descriptions are intended solely for customer convenience, and shall be used as for reference only. Should there be any discrepancy between the Japanese and the English text, the Japanese text shall take precedence.