Taiyo Fund, which is jointly managed by Taiyo Pacific Partners, LP and by WL Ross & Co. LLC, announced today that it has accumulated a position in excess of 5% in Tsubakimoto Chain Co. Ltd. (6371) and has become one of its largest shareholders. The Taiyo Fund is known for its cooperative investment style working with senior management to enhance shareholder value.

Wilbur L. Ross Jr., Chairman of the Taiyo Fund investment committee said, "Tsubakimoto has a clear vision to become a world leader in the market it serves. Senior management has been very receptive to Taiyo. They are open to new ideas and are not afraid to make changes. The company is increasingly focused on its overseas growth and becoming a true global leader. "

Brian K. Heywood, Chief Executive Officer of Taiyo, added, "We are excited to be a major shareholder of Tsubakimoto Chain. The company has the key elements we look for in a portfolio holding; strong management, leading-edge technology coupled with high growth potential, and a dedication to good corporate governance. At this stage of its global expansion managementaddSchoolForms governance credibility is essential. We have confidence in the management team and look forward to working with them to ensure the long term success of the company and its shareholders."

Mr. Tatsuhiko Mimoto, the new President of Tsubakimoto commented, "Our Company has been focusing on global activities to further grow our businesses. We have now entered into a new phase of growth and expansion. We will be aggressively servicing new markets and clients around the world. We are delighted to have investors like Taiyo who share our vision and are willing to support us to achieve our goals."

The Taiyo Fund was organized in July 2003 with an initial equity investment of $200 million by CalPERS, the State of California Public Employees Retirement System. The Fund currently has over $850 million under management. The Fund is co-managed by WL Ross & Co. LLC and by Taiyo Pacific Partners LP. The Ross firm has sponsored $4.5 billion of alternative investments since its founding in 2000. Taiyo Pacific Partners, located in Monterey, California, was founded in 2003 by bilingual professionals dedicated to friendly shareholder activism in Japan.

For information contact:

Wilbur L. Ross
212-826-2111
wlross@wlross.com


Brian K. Heywood
425-986-5301
bheywood@tppllc.com

Added on September 12, 2005

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