To: Lizzie Tudor who wrote (18020 ) 8/28/2003 8:46:28 AM From: Rock_nj Read Replies (1) | Respond to of 57684 Load up on IJII. Refinancing news out this morning: Welcome, rock_nj [Sign Out] Money Manager - My Yahoo! View - Customize Financial News Enter symbol(s) BasicDayWatchPerformanceReal-time MktDetailedChartResearchOptionsOrder Book Symbol Lookup Press Release Source: Internet Initiative Japan Inc. IIJ Announces Proposed Issuance of New Shares Thursday August 28, 5:15 am ET TOKYO--(BUSINESS WIRE)--Aug. 28, 2003--Internet Initiative Japan Inc. (IIJ, NASDAQ: IIJI), Japan's leading Internet access and comprehensive network solutions provider, today announced that its board of directors approved the issuance of new shares of common stock in a proposed privately negotiated transaction in Japan. In the transaction, IIJ is proposing to issue 12,615 new shares of common stock at the current market price for a total amount of approximately JPY 12 billion. IIJ is in discussion with NTT Group (Nippon Telegraph and Telephone Corporation and NTT Communications Corporation), Itochu Corporation, Sumitomo Corporation and other existing Japanese shareholders to purchase the share proposed to be issued. "This transaction will improve IIJ's capital structure" said Koichi Suzuki, President and CEO of IIJ. "It will help to offset the financial impact of commencement of corporate reorganization proceedings of Crosswave Communications Inc., IIJ's affiliate." Forms of the transaction 1. Maximum number of common shares to be issued 12,615 shares 2. Approximate total amount of issue JPY 12,000,649,500 (JPY 951,300 / share) 3. Date for application September 16, 2003 4. Date for payment September 16, 2003 5. The date of calculation of dividend April 1, 2003