SOFTBANK ANNOUNCES INTENTION TO FORM NEW FUND FOCUSED ON INTERNET COMPANIES SOFTBANK COMPLETES SALE OF APPROXIMATELY $410 MILLION OF YAHOO! COMMON STOCK TO CAPITALIZE FUND NEWTON CENTER, Mass., Feb. 16 /PRNewswire-AsiaNet/ -- SOFTBANK Holdings today announced it will form a new fund focused on equity holdings in late stage private and early stage public Internet companies to expand the SOFTBANK Internet family. SOFTBANK Holdings will use the approximately $410 million in proceeds from the sale of 3.0 million shares of Yahoo! Common Stock completed today to capitalize the new fund. Post-sale, SOFTBANK will continue to own 56.3 million shares, or 28% of Yahoo! and will continue to be Yahoo!'s single largest shareholder. "We believe the Internet continues to represent an enormously attractive opportunity. With a sizable capital base, a network of relationships with numerous Internet leaders, the ability to rapidly establish Japan-based joint ventures, and extensive operating and strategic expertise, we believe SOFTBANK is a unique long-term partner for emerging Internet leaders. The proceeds from our Yahoo! transaction will allow us to increase our participation in the Internet sector. Yahoo! continues to be the core holding of SOFTBANK's overall Internet strategy, and we will maintain our close strategic relationship with the company. Yahoo! remains a partner critical to our future success," said Masayoshi Son, Chairman of SOFTBANK. "SOFTBANK is an invaluable business partner whose resources and relationship have aided many emerging companies such as Yahoo!. We support SOFTBANK in its continued efforts to invest in pioneering Internet companies and in the continuation of our successful relationship," said Tim Koogle, Chairman and CEO of Yahoo!. About SOFTBANK SOFTBANK Holdings Inc. is the holding company for all of SOFTBANK Corporation's U.S.-based activities. SOFTBANK is the largest shareholder of Yahoo! and E*Trade, and is a significant minority shareholder in GeoCities -- which recently announced its intention to be acquired by Yahoo! -- as well as in MessageMedia, the Rights Exchange, and E-Loan. SOFTBANK's major operating companies include Ziff-Davis and its operating subsidiary ZDNet, as well as Kingston Technology and UTStarcom. In addition, through affiliated venture funds in the US and Japan, the SOFTBANK Group has more than 80 strategic holdings in Internet companies. SOURCE: SOFTBANK Holdings Inc. CONTACT: Philip Keuper of Keuper Public Relations, 212-207-1576 or 518-784-3160, for SOFTBANK Holdings/Web site: http://www.sbservices.com/