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December 5, 2008
eAccess Ltd.
(Code Number: 9427)

Change in Shareholders

We have been informed the following change in the shareholders of eAccess.

1.Change in the shareholders of eAccess

We were informed that there was a change in the shareholders of eAccess from the following process. Significant Share Holdings Reports were filed to the Kanto Local Finance Bureau by Morgan Stanley Japan Securities Co., Ltd. ("Morgan Stanley") on November 4, 2008, and we received the copy of the reports. As referring the presence of voting rights and the number of shares to Morgan Stanley, we received the answer as of November 25, 2008, and were informed the change in the shareholders of eAccess.

2.Corporate profile of the shareholder (as of November 25, 2008)
1)Name:Morgan Stanley & Co. International PLC
2)Address or Location:25 Cabot Square, Canary Warf, London E14 4QA, United Kingdom
3)Representative:ChairmanWalid Chammah
4)Business Focus:Securities business
5)Purpose of purchasing eAccess shares:To include as part of Morgan Stanley's securities business

3.Number of voting rights and shares hold
# of voting rights
(# of shares held)
% of
Rank of
Ownership %
Before Transaction
After Transaction
*Outstanding shares as of 10/27/20081,417,229 shares
*Shares without voting rights, which were excluded from the total outstanding shares0 shares
*The number of voting rights as of 10/27/20081,417,229 shares
*Rank of ownership is determined based on the latest interim report.

4.Date of Transaction

The information is true and accurate at the time of publication. Price, specification, contact and other information of products and service may be subjected to change.