CSD9 Agenda & Announcements Korea Securities Depository (KSD) Taiwan Depository & Clearing Corporation (TDCC) Japan Securities Clearing Corporation (JSCC) Japan Securities Depository Center, Inc. (JASDEC)

CSD9 Agenda What conference theme? Harmonization & Globalization When & Where April 11-13, 2007 in Seoul, Korea Who will host? - Korea Securities Depository (KSD) - Taiwan Depository & Clearing Corporation (TDCC) - Japan Securities Clearing Corporation (JSCC) - Japan Securities Depository Center, Inc. (JASDEC)

CSD9 Program Overview General Meeting - Keynote Speech - Updates from Regional CSD Associations - Opening Panel Discussion - Session 1 - Session 2 - Session 3 - Session 4 - Session 5 - Top Management Meeting

Keynote Speech & Reports from Regional CSD Associations “Challenges and Opportunities for CSDs: New Initiative from the Asian Development Bank” by Mr. Haruhiko Kuroda, Asian Development Bank Updates from Regional CSD Associations Reports from AMEDA, ACSDA, ACG, ECSDA and AECSD

Opening Panel Discussion Topic “The Future Advancement of CSDs through Harmonization and Globalization” Moderator Mr. Donald F. Donahue, CEO, DTCC Panelists - Mr. Alexei E. Rybnikov, CEO, MICEX Stock Exchange - Mr. Mohamed S. Abdel Salam, Chairman & Managing Director, Misr for Clearing, Settlement and Depository - Mr. Paul Symons, Director, Head of Public Affairs, Euroclear - Mr. Stewart S. Shing, Executive Vice President, Head, Clearing Division, Hong Kong Exchanges and Clearing Limited

Session 1 Topic “Cross-border Trading: Clearing and Settlement Challenges” Moderator Mr. Jonathan Butterfield, Executive Vice President, CLS Bank International Speakers - Mr. Allan R. Cooper, President and CEO, The Canadian Depository for Securities Limited - Mr. Esmond K. Y. Lee, Head, Monetary Management & Infrastructure Department, Hong Kong Monetary Authority - Mr. Johannes Luef, President and CEO, VP Securities Services -Mr. Charles Savage, Senior Vice President, Head of HSBC Securities Services, Korea, HSBC

Session 2 Topic “Tax Treatment and Harmonization” Moderator Mr. Ali Kazimi, Operational Taxes Services Group, UK Financial Services, Ernst & Young Speakers - Mr. Emin Catana, General Manager & CEO, TAKASBANK - Ms. Kerstin Malmer, Head of Unit, Direct Tax Legislation, Taxation and Customs Union Directorate-General, European Commission - Mr. Mathias Papenfuss, Director, Custody Operations Custodian, Clearstream Banking Frankfurt - To be decided, JASDEC

Session 3 “Corporate Action Processing” Topic “Corporate Action Processing” Moderator Mr. Gilberto Mifano, CEO, Brazilian Clearing and Depository Corporation Speakers - Mr. Gagan Rai, Executive Director, National Securities Depository Ltd. - Mr. Geoff de Lesseps, Senior Vice President, Automatic Data Processing - Mr. Paolo Cittadini, General Manager, Monte Titoli - To be decided, Samsung

Session 4 Topic Moderator European Central Bank Speakers “Business Continuity Plans” Moderator Ms. Daniela Russo, Head of Division Securities Settlement Systems Policy, European Central Bank Speakers - Mr. Dale Connock, Head of Internal Audit, STRATE Ltd. - Mr. John Trundle, Managing Director and Chief Risk Officer, Euroclear - Mr. Rok Sketa, Executive Vice President, KDD - Central Securities Clearing Corporation, Inc. - Mr. Heung-Mo Ryu, Senior Managing Director, KSD - Ms. Peyling Hwang, Senior Vice President, TDCC

Session 5 Topic “Challenging New Business Opportunities for CSDs” Moderator To be decided, Chinese Securities Depository and Clearing Corporation Speakers - Mr. Jesus Benito, CEO, Iberclear - Ms. Jill Considine, Chairman, DTCC - Mr. Muffadal Kagalwala, Senior Manager, Dubai International Financial Exchange - Mr. Werner Merki, Head of Division Product, Network & Quality Management, SIS SegaInterSettle

Last but not least… Top Management Meeting What is Top Management Meeting? SPECIAL discussion time for the Top Managements of CSDs. Topic “Opportunities for Cooperation and Harmony Among and Between CSDs: Now and in the Future”

And also… World Information Exchange Before the General Meeting Breakout Session / Table Discussion Discussion for a few provided themes Announcement about the discussion from table leaders Summarizing discussions by chairpersons Participation is open to all stakeholders