TRANSLATION FOR REFERENCE ONLY?

April 20, 2012

Company Name: Asia Alliance Holdings Co., Ltd. Representative: Yosinori Funato, President and CEO (Code No.: 9318 at 2nd Section of Tokyo Stock Exchange) Contact: Hiroyuki Ueno

Corporate Planning Department, General Manager

(TEL?03-5638-8562?

Notice Regarding Revision of the Exercise Price

Asia Alliance Holdings Co., Ltd. hereby announces that the exercise price with respect to New Share
Subscription Rights issued on July 2nd, 2007 will be revised as follows.
1. Revision of the Exercise Price:

?Name of the Stock AcquisitionRights? No. 8 Stock Acquisition Rights

?Before the Revision? 27 yen

?After the Revision? 29 yen

2. Effective Date: April 23, 2012
3. Reason for the Revision:
Application of the provisions for Revision of the Exercise Price.
4. Present Status of the Exercise of the Rights
24.2%, 19,400 stock acquisition rights("SARs") of total 80,000 SARs have been exercised as of today.

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