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Benesse Corporation has decided to dissolve consolidated subsidiary Benesse Institute for the Child Sciences, Parenting, and Aging Inc. Details are as follows.

1.Reasons for Dissolution
Benesse Institute for the Child Sciences, Parenting, and Aging Inc. is a wholly owned subsidiary of Benesse. Its operations center on surveys, research and provision of information in two fields in particular: pregnancy, childbirth and parenting; and preschool education. However, it is now necessary in terms of business strategy to link surveys and research more closely with Benesseﾂ's Parenting Business Division. Benesse has therefore resolved to transfer the subsidiaryﾂ's operations to the Parenting Business Division on September 30, 2007 and dissolve the subsidiary.

2. Overview of Company to Be Dissolved

Company Name: Benesse Institute for the Child Sciences, Parenting, and Aging Inc.

Head Office: 1-34 Ochiai, Tama City, Tokyo

Representative: Haruna Okada, President

Business: Surveys, research and provision of information related to: pregnancy, childbirth and parenting; preschool education; and gerontology

Established: January 5, 2006

Capital: 50 million yen

No. of Issued Shares: 1,000

Total Equity: 102 million yen (As of March 31, 2007)

Total Assets: 129 million yen (As of March 31, 2007)

Fiscal Year-end: March

Main Shareholder and Equity Interest: Benesse Corporation (100%)

(Business Results)

Fiscal 2005
Net sales: 35 million yen
Ordinary income: (0) million yen
Net income: (2) million yen

Fiscal 2006
Net sales: 134 million yen
Ordinary income: 10 million yen
Net income: 4 million yen

3. Schedule
Liquidation Date: Late December 2007
*The liquidation date may differ depending on the speed of local liquidation procedures.

4. Forecasts
The dissolution of Benesse Institute for the Child Sciences, Parenting, and Aging Inc. will have a negligible impact on Benesse's results.