Crayfish Announces Delisting of ADRs From the US NASDAQ National Market and Termination of ADR Program TOKYO and NEW YORK, Nov. 25 /PRNewswire-FirstCall/ -- Crayfish Co., Ltd. (Nasdaq: CRFH; MOTHERS: 4747) ("Crayfish" or the "Company") announced that its American Depositary Receipts (ADRs) were delisted from the U.S. NASDAQ National Market and its ADR program terminated at the close of business in the United States on November 24, 2003. These actions are not expected to affect the continued listing of its shares on the MOTHERS exchange in Tokyo. For more information please see our press release dated August 22, 2003, which is available from our web site at http://www.crayfish.co.jp/ . Safe Harbor This release contains forward-looking statements based upon the Company's current expectations, assumptions, estimates and projections about the Company's business and industry in light of the information currently available to it. To the extent that statements in this release do not relate strictly to historical or current facts, they may constitute forward-looking statements. The Company's actual actions or results may differ materially from those discussed in any forward-looking statement as a result of known and unknown risks, uncertainties and other factors. Important risks and factors that could cause the Company's actual results to differ materially from its expectations are generally discussed in the Company's annual report on its most recent Form 20-F and other filings with the U.S. Securities and Exchange Commission. The Company undertakes no obligation to publicly update any forward- looking statement after the date of this release, but investors are advised to consult any further disclosures by the Company in its subsequent filings pursuant to the Securities Exchange Act of 1934. DATASOURCE: Crayfish Co., Ltd. CONTACT: Investor Relations Department of Crayfish Co., Ltd., +81-3-5951-7192 Web site: http://www.crayfish.co.jp/

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