Tokio Marine and Nichido Fire Insurance Signs for Kamakura Default Probability and Correlation Service

HONOLULU, March 28, 2005: Kamakura Corporation announced today that Tokio Marine and Nichido Fire Insurance has subscribed to the Kamakura Risk Information Services default probability and default correlation service. Tokio Marine & Nichido, with assets in excess of 9 trillion yen, is the largest property and casualty insurance company in Japan.

Tokio Marine and Nichido plans to use Kamakura's default probability service in order to enhance credit risk management.

"Tokio Marine & Nichido is widely recognized as one of the most sophisticated managers of credit risk in Japan," said Warren Sherman, Kamakura President and Chief Operating Officer. "We look forward to working closely with Tokio Marine & Nichido for many years in credit risk management from our offices in Tokyo and Honolulu."

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