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Safe Harbor Urges SNT Corp. Shareholders to Support Their Resolutions at the June 28 General Shareholders Meeting

Safe Harbor Investment, Ltd
2007-06-06 16:18 1165

Resolutions Seek To Raise SNT's Long Term Value and Share Performance

HONG KONG, June 6 /Xinhua-PRNewswire/ -- Safe Harbor Master Fund L.P. ("Safe Harbor Fund"), a fund managed by Safe Harbor Investment Ltd. (hereafter "Safe Harbor"), the largest shareholder of SNT Corporation (hereafter "SNT"; TSE: 6319), today issued proxy materials to SNT's shareholders urging them to support Safe Harbor's resolutions at the 76th Annual General Meeting on 28 June 2007.

Safe Harbor proposed the following two resolutions which seek to make SNT a much stronger company for the long term, while also achieving improved share performance.

-- A special dividend of 70 yen per share would enable SNT to achieve

improved asset efficiency and higher returns on equity (ROE), while

maintaining 18.5 billion yen of financing flexibility for long term

capital expenditures.

-- Election of two outside director nominees, Tetsuo Fujikawa and

Kohsuke Noda, would bring in-depth industry experience and management

knowledge to help grow SNT. In addition, outside directors would

protect SNT's assets from conflicts of interest with the management,

such as the estimated 2.0 billion yen zaitec real estate

transaction.

Safe Harbor believes that if its plan were implemented, depending on which steps management chooses to implement, SNT's equity value could be worth as much as 32.9 billion yen to 44.5 billion yen, implying a per share value of 1,146 yen per share to 1,550 yen per share. The plan also seeks to transform SNT into a modern, professionally managed company. Safe Harbor's outside director nominees would help management develop a professional 3 to 5 year business plan for SNT's long-term benefit and counsel the board on proper succession planning. A professionally managed company would also benefit customers and employees by retaining and attracting good engineers and through a capital expenditure plan that better addresses customers' medium to long term needs.

For further information and a full copy of Safe Harbor's letters to SNT shareholders, please visit the website: www.safeharbor-investment.com

About Safe Harbor Investment, Ltd

The funds managed by Safe Harbor Investment Ltd. invest primarily in the securities of Japanese companies. Safe Harbor Investment Ltd, is the investment manager for Safe Harbor Master Fund L.P., an entity that beneficially owns shares of SNT's common stock.

IMPORTANT NOTE: This press release (hereafter "Release") is not an offer to acquire shares nor an invitation to tender shares in SNT Corporation and is not intended to solicit any shareholder to retain the fund or any party related thereto or any other third party as its/his proxy in exercising its/his voting rights at any general meeting of the shareholders of SNT Corporation, nor to provide any advice in connection with the exercising of the voting rights by any shareholder. This Release is based on information available to Safe Harbor Investment as of the date of this Release. While Safe Harbor Investment has exercised reasonable care as to the information in this Release, Safe Harbor Investment makes no representation or warranty as to the accuracy or completeness of the information contained herein.

This Release is not intended to have an effect on the share price of SNT Corporation. Safe Harbor Investment and Safe Harbor Fund assume no responsibility as to any reaction from the market in response to the proposals or views expressed by the management of SNT Corporation. The proposals are intended solely to introduce the subject matter of the proposals for consideration by SNT Corporation's shareholders at the General Shareholders' Meeting.

For Media Inquiries:

Fleishman-Hillard Japan, Inc.

Tatsumi/Saito

Tel: +81-3-3524-4631 (or 4620)

Fax: +81-3-3524-4602

Source: Safe Harbor Investment, Ltd
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