Impress Group
Press Release

Announcement regarding Yama-Kei Publishers becoming Subsidiary


Tokyo, November 16, 2006 - Impress Holdings, Inc. (TSE: 9479) today announced that based on the basic agreement concluded with Yama-Kei Publishers Co., Ltd. on October 11, 2006, Impress Holdings has today acquired the shares of Yama-Kei Publishers and made the company a subsidiary.

1. Overview

(1) Overview of company being made subsidiary
    Company name: Yama-Kei Publishers Co., Ltd.
Address: Akasaka 1-9-13, Minato-ku, Tokyo
Date of establishment: April 30, 1940
Major businesses: Publishing and sales of books and magazines related to mountain climbing, skiing, travel, etc.
Fiscal year end: August 31
No. of employees: 67 (as of August 31, 2006
URL: http://www.yamakei.co.jp/
Capital: 45 million yen
No. of shares outstanding: 900,000 shares
(2) Change in Impress Group's ownership of Yama-Kei Publishers
    No. of shares owned prior to acquisition: 735,000 shares
(Acquisition amount) (37 million yen)
No. of shares owned after acquisition: 735,000 shares (81.70%)
(Note: Agreements have been reached with the owners of the remaining 18.30% shareholding, and those shares will be acquired promptly following the completion of related procedures)
(3) Acquisition schedule
    October 11, 2006: Resolution of the Board of Directors
November 30, 2006: Acquisition date

2. New Management Organization (as of November 29, 2006)
Position Name Reference
President / CEO
(newly appointed)
Akiharu Awazu Manager, President Office, Impress Holdings, Inc.
Director
(newly appointed)
Keiichiro Tsukamoto President & CEO, Impress Holdings, Inc.
Director
(newly appointed)
Koji Oishi Chairman, Impress Communications Corporation
Corporate Auditor
(newly appointed)
Isamu Arai -
Auditor
(newly appointed)
Yutaka Suzuki Corporate Auditor, Impress Holdings, Inc.

3. At this time, the impact of this transaction on the company's consolidated results for the current fiscal year is seen as negligible. The anticipated impact on results from next year will be announced promptly when it has been ascertained.

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