Japan, Tokyo: Kirin Brewery Company, Limited (Kirin) announced on March 8 it has repurchased its ordinary shares under Article 211 Clause 3, Section 1-2 of the Commercial Code of Japan. On March 8, 2005, through the Tokyo Stock Exchange ToSTNeT-2 (closing price transaction) system, Kirin has repurchased its ordinary shares (9,000,000 shares) at 1,105 yen per share, the closing price on March 7, 2005. The total value of repurchased shares is 9,945,000,000 yen. Kirin said the reason for repurchase is systematic implementation of financial policies in a changing operating environment.

Details of treasury shares held by Kirin as of December 31, 2004: Total shares outstanding (excluding treasury shares): 968,573,387 shares; treasury shares held: 15,935,000 shares.

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