Translation of the Japanese press release
August 27, 2009
Nikko Cordial Securities Inc.

Personnel Changes
Nikko Cordial Securities Inc. today announces personnel changes as per appendices:###Personnel Changes (Effective as of August 27, 2009)[New] General Manager, Yamagata Branch
Shu Takeda[Previous] Listed & OTC Companies V[New] General Manager, Otemachi Branch
Hitoshi Sugamoto[Previous] General Manager, Retail Business Planning[New] General Manager, Kinshi-cho BranchToshinobu Genozono[Previous] Section Manager, Consultant Section III, IkebukuroBranch[New] General Manager, Tamagawa BranchHiroyasu Fujikawa[Previous] Section Manager, Human Resources I, HumanResources[New] General Manager, Nakano BranchTeruo Okamoto[Previous] General Manager, Shinyurigaoka Branch[New] General Manager, Shinyurigaoka Branch
Hiroki Higashi[Previous] Personnel Development[New] General Manager, Otsu Branch
Takafumi Inage[Previous] Section Manager, Consultant Section I, MainBranch[New] General Manager, Settlement

Akira Kawahara[Previous] Deputy General Manager, Retail & Institutional
Business Compliance[New] General Manager, Financial Market Trading Preparatory

Shigeyuki Otohata

Office[Previous] Deputy General Manager, Management Planning &Administration

[New]Kouichi Maeda

Co-GeneralManager,

FinancialMarketTrading

Preparatory Office[Previous] Management Planning & Administration[New] General Manager, Retail Business Planning

Shinsuke Ushijima[Previous] General Manager, Otemachi Branch[New] General Manager, Public Institutions Administration &Hiroaki Aizawa

Operation[Previous] Section Manager, Sapporo, Public Institutions II[New] General Manager, Sales Group for Wholesale Clients
Section Manager, Sales Group Nagoya, Sales Group forYuji Suzuki

Wholesale Clients[Previous] Deputy General Manager, Management Planning &Administration[New] Deputy Head of Institutional Business Eastern JapanKeiichi Takada[Previous] General Manager, Institutional Business Kanto &Shinetsu[New] General Manager, Institutional Business Sapporo

Hiroyuki Takagi[Previous] Deputy General Manager, Institutional BusinessKanto & Shinetsu[New] General Manager, Institutional Business Sendai

Shinya Saiki[Previous] Personnel Development[New] General Manager, Institutional Business Niigata
Takeo Harada[Previous] Institutional Business Kanto & Shinetsu[New] General Manager, Institutional Business Saitama
Katsumi Oniki[Previous] Deputy General Manager, Institutional Business
Kinki & Tokai[New] General Manager, Institutional Business Kanto
Nobuhiro Wakamatsu[Previous] General Manager, Institutional Business Tohoku II[New] General Manager, Institutional Business Chiba
Nobuyuki Endo

[Previous] Deputy General Manager, Institutional Business
Kanto[New] General Manager, Institutional Business Yokohama

Kiyoshi Takahashi[Previous] General Manager, Institutional Business Tohoku I[New] General Manager, Institutional Business Mito
Naoya Nobori[Previous] Deputy General Manager, Institutional Business
Kanto[New] General Manager, Shizuoka Branch

Yoshito Morimoto

General Manager, Institutional Business Shizuoka[Previous] General Manager, Shizuoka Branch[New] General Manager, Institutional Business Kyoto

Eiichiro Obana[Previous] General Manager, Institutional Business Kinki &Tokai[New] General Manager, Institutional Business Kobe

Kazushi Kato

[Previous] General Manager, Institutional Business WestJapan I[New] Deputy Head of Institutional Business Western Japan

Tetsuji Komura[Previous] General Manager, Institutional Business Shikoku[New] Deputy Head of Institutional Business Western Japan
Masaki Fukuoka[Previous] General Manager, Institutional Business Hokuriku[New] General Manager, Institutional Business Okayama
Koji Abe[Previous] Institutional Business West Japan I

[New] General Manager, Institutional Business Hiroshima
Masayuki Tada

[Previous] General Manager, Institutional Business WestJapan II[New] General Manager, Institutional Business Fukuoka

Koichi Urano[Previous] General Manager, Institutional Business Kyushu[New] General Manager, Institutional Business Yamaguchi
Hiroyuki Yamasaki[Previous] Deputy General Manager, Institutional Business
Kanto & Shinetsu###