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SOFTBANK announces the sale of its shares held in Cisco Systems K.K.

Jul. 26, 2005

SOFTBANK CORP. announces that the Company has signed a disposal contract of selling all shares held in Cisco Systems K.K. (head office: Minato-ku, Tokyo, representative: Yasuki Kurosawa) with Cisco Systems, Inc. (head office: San Jose, California, representative: John Chambers)

1. Outline of sale

(1) Shares for sale	160 preferred shares held in Cisco Systems K.K.
(2) Sale price	US$ 25 million Approximately 2.8 billion yen (Yen equivalent based on an exchange rate of 1$ = 111.84 yen, as of July 25, 2005)
(3) Buyer	Cisco Systems, Inc.
(4) Time of delivery	July 2005 (Schedule)

2. Effect on financial results

Gain on sale of investment securities would be recognized approximately 2.6 billion yen on consolidated and stand-alone bases in the 2nd quarter for the fiscal year ending March 31, 2006.