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Analyst Coverage

Securities firm Analyst
Arete Research Asia Limited Nam Hyung Kim
Citigroup Global Markets Japan Inc. Kota Ezawa
CREDIT SUISSE SECURITIES (JAPAN) LIMITED Hideyuki Maekawa
Daiwa Securities Capital Markets Co.Ltd. Masaharu Sato
Deutsche Securities Inc. Takeo Miyamoto
Goldman Sachs (Japan) Ltd Ikuo Matsuhashi
J.P. Morgan Securities Asia Pte. Limited Yoshiharu Izumi
Macquaire Securities (Japan) Limited Damian Thong
Merrill Lynch Japan Securities Co., Ltd Simon Dong-je Woo
Mitsubishi UFJ Morgan Stanley Securities Co., Ltd. Masahiko Ishino / Yoshihito Hasegawa
Mizuho Securities Co., Ltd. Eisaku Omori
Morgan Stanley MUFG Securities Co., Ltd. Kazuo Yoshikawa
Nikko Cordial Securities Inc. Yukihiko Shimada
Nomura Securities Co., Ltd.
Financial & Economic Research Center
Masaya Yamasaki
UBS Securities Japan Ltd. Kenji Yasui

*Names of security firms are listed in alphabetical order.

This is a list of analysts working in securities firms or research organizations who report on or cover Elpida's business performance and who may recommend our stock.
The analysts in this list are individuals who have issued analyst reports on Elpida as of February, 2011.
The list is subject to change as firms add or delete coverage of our company.
Elpida is NOT involved in producing the forecasts issued by analysts. Forecasts are in no way supported or guaranteed by Elpida.

This list is solely for informational purposes and is not intended as a solicitation to make investments.

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