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Technology Stocks : Crayfish (CRFH)

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To: CrayUSA who wrote (55)5/31/2000 5:00:00 AM
From: Neil H   of 59
 
Wednesday May 31, 3:00 am Eastern Time

Company Press Release

SOURCE: Crayfish Co., Ltd.

Crayfish Co., Ltd. Announces
Reorganization and Personnel Changes

TOKYO and NEW YORK, May 31 /PRNewswire/ -- Crayfish Co., Ltd. (Nasdaq: CRFH -
news) today announced following a special board meeting, organizational and personnel changes
to be implemented effective June 1, 2000. These organizational changes will facilitate greater
efficiency and the rationalizing of company operations by enabling directors to exercise overall
control over the sections of the company for which they are responsible. As well ``departments
and divisions'' will be abolished and replaced by ``departments and sections.''

1. Responsibilities of Ms. Naoko Tomita (Chief Financial Officer)
1). Accounting Division, Administrative Department to be renamed
Accounting Department
2). Investor Relations Division, Administrative Department to be
renamed Investor Relations Department
3). Finance Department to be newly created
4). Accounting Department, Investor Relations Department and Finance
Department will be under the overall control of the Chief
Financial Officer.

2. Responsibilities of Mr. Hiroyuki Kawai (Chief Strategic Officer)
1). Sales Planning Division, Sale & Marketing Department to be
renamed Sales Planning Department
2). Product Planning Division, Sale & Marketing Department to be
renamed Product Planning Department
3). Customer Support Division, Operations Department Customer
Management Division, Operations Department to be combined and
name changed to Customer Administration Department
4). Sales Planning Department, Product Planning Department and
Customer Administration Department will be under the overall
control of the Chief Strategic Officer.

3. Responsibilities of Mr. Kentaro Aramaki (Chief Operating Officer)
1). Human Resource Division, Administrative Department and General
Affairs Division, Administrative Department to be combined and a
new ER Department (Employee Relations Department) created
2). Information Management Department to be renamed Information
Administration Department
3). Digital Creative Department to be renamed Digital Creation
Department
4). PR Department (Public Relations Department) to be newly created
5). Business Strategy Department to be newly created
6). ER Department, Information Administration Department, Digital
Creation Department, PR Department and Business Strategy
Department will be under the overall control of the Chief
Operating Officer.

4. Responsibilities of Mr. Takashi Hirai (Chief Marketing Officer)
1). Business Development Department to be split into Channel
Development Department and Business Planning & Support Department
2). Channel Development Department and Business Planning & Support
Department will be under the overall control of the Chief
Marketing Officer.

5. Responsibilities of Mr. Osamu Iwasawa (Chief Technology Officer)
1). Systems Development Division, Engineering Department to be
renamed System Development Department
2). Systems Operation Division, Engineering Department to be renamed
System Operations Department
3). System Engineering Department to be newly created
4). The System Development Department, System Operations Department
and System Engineering Department will be under the overall
control of the Chief Technology Officer.

Summary of personnel changes

Name New title Previous title

Ms. Naoko Tomita Chief Financial Officer Chief Financial Officer
and Director, Investor
Relations Dept. and
Director, Finance Dept.

Mr. Hiroyuki Kawai Chief Strategic Officer Chief Strategic Officer
and Director, Sales and Director, Business
Planning Dept. Development Dept.

Mr. Kentaro Aramaki Chief Operating Officer President of Hitmail
and Director, Business Business and Managing
Strategy Dept. Director, Operations
Dept.

Mr. Takashi Hirai Chief Marketing Officer Chief Marketing Officer
and Managing Director,
Sales Marketing Dept.
Mr. Osamu Iwasawa Chief Technology Officer Chief Technology Officer
and Director, System and Director, Systems
Development Dept. Development Div.,
Engineering Dept.

About Crayfish

Founded in 1995, Crayfish Co., Ltd. (CRFH) of Tokyo, Japan, is a leading provider of e-mail
services to small and medium-sized businesses in Japan, offering customizable, reliable and
expandable e-mail services and Internet solutions under the brand name ``Hitmail'' as well as
additional services to enhance its customers' capabilities in communication, office operation and
e-commerce. The Company has over 60,000 Hitmail subscribers in Japan
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