Notice of Selection of Interim Independent Accounting Auditor
Last updated：July 3, 2006
NTT Urban Development Corporation announces that at a Board of Auditors meeting held today, the Company selected an interim independent accounting auditor.
1. Reason for Selecting Interim Independent Accounting Auditor
On May 10, 2006, the Financial Service Agency ordered ChuoAoyama PricewaterhouseCoopers, the Company's independent accounting auditor, to halt auditing activities prescribed under Company Law during the period from July 1, 2006, to August 31, 2006. Consequently, that company lost its capacity to operate as NTT Urban Development's independent accounting auditor from July 1, 2006. To avoid the Company being without an independent accounting auditor, the Company has selected KPMG AZSA & Co. as its interim independent accounting auditor, as provided in paragraphs 4 and 6, Article 346, of Japan's Company Law.
The Company's independent accounting auditor for the fiscal year ending March 31, 2008 and thereafter will determined at the Ordinary General Meeting of Shareholders that is scheduled to take place in June 2007.
2. Name of Interim Independent Accounting Auditor
| Name | : | KPMG AZSA & Co. |
| Location | : | AZSA Center Building, 1-2 Tsukudo-cho, Shinjuku-ku, Tokyo |
| Date of change | : | July 3, 2006 |
3. Name of Departing Independent Accounting Auditor
| Name | : | ChuoAoyama PricewaterhouseCoopers |
| Location | : | Kasumigaseki Building, 2-5, Kasumigaseki 3-chome, Chiyoda-ku, Tokyo |
| Date of change | : | July 1, 2006 |