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 Benesse Corporation resolved at a meeting of its Board of Directors today to obtain an authorization by shareholder resolution to be adopted at the 49th annual shareholder meeting to be held on June 25, 2003 for purchases of its own shares pursuant to Article 210 of the Commercial Code.
This release is to revise "Benesse Repurchases its Own Shares" announced on May 16, 2003.

1.Reasons for share repurchase
To facilitate the effective execution of its financial policies in accord with changes in the business environment and to further improve future value for shareholders.

2.Details of proposed share repurchase
(1)Type of shares: Common stock
(2)Number of shares: Up to 5 million shares (4.70 percent of currently issued common stock)
(3)Total purchase price: Up to 10 billion yen

*Note
Pending approval at Benesse's annual shareholder meeting to be held on June 25, 2003, the details of the buyback will be finalized.

*Reference
Details of proposed share repurchase announced on May 16, 2003
(1)Type of shares: Common stock
(2)Number of shares: Up to 2 million shares (1.88 percent of currently issued common stock)
(3)Total purchase price: Up to 3 billion yen