Prism Communications Co.
to Launch International Telephone Service in Korea
[Notification] March 8, 1999



Prism Communication Co. (Main office: Seoul, President: J. W. Kim), a Korean telecommunications company of which KDD America is a minority shareholder, has applied for a license as an international telecommunications re-seller to the Korean government and subject to it's approval it will begin providing international telephone service starting at the end of March. KDD America (Main office: New York, President: Hiroshi Hirai) is a wholly-owned subsidiary of KDD Corporation.

Prism, established in 1998, was initially in the business of leasing telecommunications equipment and providing housing services for telecommunications equipment. Earlier this year Prism sought out KDD America as a financial and business partner in support of Prism's application for a license as a telecommunications reseller in Korea. As a result of the investment, KDD America is a 49% shareholder of Prism. This is the first time a Japanese-American company has invested in a Korean telecommunications company.

After getting the license, Prism will shortly be able to offer international telephone service in Korea. Prism is expected to become a member part of the KDD Group "Global Network" project to expand the Group's service in Korea.

The KDD Group is committed to developing and improving its services to its customers around the globe.


(Reference)

[KDD America]
1. Company Name:KDD America, Inc.
2. Main Office:New York, U.S.A.
3. Foundation:July 31, 1989
4. Capital:60.590 million U.S. dollars (about 7.27 billion yen)
5. Capital Structure:KDD, 100%
6. President:Hiroshi Hirai
7. Employees:93 (as of December 31, 1998)

[Prism]
1. Company Name:Prism Communications Co.
2. Main Office:Seoul, Republic of Korea
3. Foundation:May 23, 1998
4. Capital:3.325 billion won (about 330 million yen)
5. Capital Structure:KDD America, 49%; Venture Capital, 25%;
Directors and Employees of Prism, 26%
6. President:Jin-Wook Kim
7. Employees:20 (as of February 28, 1999)

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