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 In accordance with an extraordinary resolution passed at the General Meeting of Shareholders of Benesse Corporation (the Company) and a subsequent resolution at a meeting of the Board of Directors held on June 24 2005, the Company has finalized details, as follows, regarding the issue of common stock acquisition rights for the purpose of granting stock options.

1.Date of Issue of Common Stock Acquisition Rights:
July 6, 2005

2.Amount to be Paid in for Exercise of Common Stock Acquisition Rights:
The amount to be paid in per share to be issued or transferred upon exercise of each Common Stock Acquisition Right (the "Exercise Price") shall be 3,780 yen.

If the Company splits or consolidates its Common Stock after the issue date of Common Stock Acquisition Rights, the Exercise Price shall be adjusted according to the following formula, and any fraction less than one yen resulting from this adjustment shall be rounded up to the nearest one yen.

Exercise Price after adjustment
= Exercise Price before adjustment x 1 / Ratio of split or consolidation

In addition, in the case of a merger with any other company, corporate split or capital reduction of the Company, or in any other case similar thereto where an adjustment of Exercise Price shall be required, in each case after the issue date of Common Stock Acquisition Rights, the Exercise Price shall be appropriately adjusted to the extent reasonable.

3. Amount to be Allocated in Capital Per Share of Common Stock Issued by the Exercise of Stock Acquisition Rights
1,890 yen (In the event of adjustment to the Exercise Price as referred to in Note 2 above, the amount allocated in capital per share of common stock shall be set at half of the new Exercise Price, and any fraction less than one yen resulting from this adjustment shall be rounded up to the nearest one yen.)