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whole or any part of the contents of this announcement.

SBI HOLDINGS, INC.

(Incorporated in Japan with limited liability)

(Stock code: 6488)

OVERSEAS REGULATORY ANNOUNCEMENT

This announcement is made pursuant to Rule 13.09(2) of the Rules Governing the Listing of Securities on The Stock
Exchange of Hong Kong Limited.

Please refer to the attached copy of the Announcement.

On behalf of the Board SBI Holdings, Inc. Yoshitaka Kitao

Chief Executive Officer

Japan, 29 March 2012

As of the date of this announcement, the executive Directors are Mr Yoshitaka Kitao, Mr Taro Izuchi, Mr Takashi Nakagawa, Mr Kenji Hirai, Mr Tomoya Asakura, Mr Takashi Okita, Mr Noriaki Maruyama, Mr Shumpei Morita, Mr Shinji Yamauchi, Mr Makoto Miyazaki, Mr Yoshimi Takahashi and Mr Masaki Takayanagi, the non-executive Directors are Mr Yasutaro Sawada, Mr Hiroyoshi Kido, Mr Noriyoshi Kimura and Mr Hiroshi Tasaka and the independent non-executive Directors are Mr Masaki Yoshida, Mr Kiyoshi Nagano, Mr Keiji Watanabe, Mr Takeshi Natsuno and Mr Akihiro Tamaki.

March 29, 2012
SBI Holdings, Inc. (TOKYO: 8473 / Hong Kong: 6488)

SBI Holdings Forms Business Alliance with Digital Garage

SBI Holdings, Inc. ("SBIH") hereby announces that it has concluded a memorandum of understanding with Digital Garage, Inc. (Head office: 3-5-7 Ebisu Minami, Shibuya-ku, Tokyo; President and CEO: Kaoru Hayashi; "Digital Garage") to form a partnership regarding the global expansion of its investment and incubation operations. Please note that SBIH will transfer all shares of SBI VeriTrans Co., Ltd. to a subsidiary of Digital Garage, as stated in the "Notice Regarding Transfer of Shares of SBI VeriTrans, a Subsidiary of SBI Holdings," released today.
With strategic bases established in the U.S., Digital Garage is promoting overseas expansion of the incubation business, in which it has achieved success in Japan. Meanwhile, SBIH is proactively expanding the investment and financial service businesses overseas, mainly in Asian emerging countries through tie-ups with prominent local partners. From now on, taking advantage of their strengths in different regions, (SBIH in Asia and Digital Garage in the U.S.), they will jointly cultivate Internet-related companies, which provide promising services worldwide, and invest in and incubate these companies, under the planned alliance. As the first step, both companies will consider jointly establishing investment funds focused primarily on Internet-related companies in the U.S., Japan and the rest of Asia.

Outline of Digital Garage, Inc. (As of December 31, 2011)

(1) Corporate name

Digital Garage, Inc.

(2) Head office

3-5-7 Ebisu Minami, Shibuya-ku, Tokyo, Japan

(3) Representative

President and CEO: Kaoru Hayashi

(4) Main Business

IT Solutions

(5) Capital

6,017,283 thousand yen

(6) Date of establishment

August 17, 1995