Notice Concerning Certain Coverage

Apr 30, 2001, 01:00 ET from Crayfish Co., Ltd.

    TOKYO and NEW YORK, April 30 /PRNewswire/ -- Monday edition of the Nikkei
 Newspaper reported a Crayfish (Nasdaq: CRFH) restructuring plan.  Although
 Crayfish is currently examining the restructuring plan and items were covered
 in the article regarding the plan, the details of the plan were not yet
 solidified. Crayfish will announce the corporate restructuring plan as soon as
 the plan is finalized.
 
     About Crayfish
     Crayfish is a leading provider of e-mail hosting and other
 Internet-related services for small and medium-sized businesses in Japan. The
 Company offers customizable, reliable and expandable email services and
 Internet solutions under the brand name "DESKWING" as well as other Internet
 application services to enhance its customers' communication, office operation
 and e-commerce capabilities. Founded in 1995, Crayfish had about
 41,000 DESKWING subscribers in Japan as of the end of March 2001.  The Company
 has its American Depository Receipts (ADRs) listed on Nasdaq National Market
 (ticker: CRFH) in the USA, and its common shares listed on MOTHERS (ticker:
 4747) in Japan. Crayfish Co., Ltd. headquarters is located at Shinjuku Park
 Tower 35th Fl. 7-1, Nishi-Shinjuku 3-chome, Shinjuku-ku, Tokyo 163-1035,
 Japan.
 
     This release contains "forward-looking statements" within the meaning of
 the Private Securities Litigation Reform Act of 1995.  To the extent that
 statements in this release do not relate strictly to historical or current
 facts, they may constitute forward-looking statements.  These forward-looking
 statements are based upon management's current assumptions and beliefs in
 light of the information currently available to it, but involve known and
 unknown risks and uncertainties.  Crayfish's actual actions or results may
 differ materially from those discussed in the forward-looking statements.
 Crayfish undertakes no obligation to publicly update any forward-looking
 statements after the date of this release, but investors are advised to
 consult any further disclosures by Crayfish in its subsequent filings pursuant
 to the Securities Exchange Act of 1934. Specific potential risks and
 uncertainties include Crayfish's ability to effectively replace the sales and
 marketing capability of Hikari Tsushin either independently or through agents
 on terms that are favorable to Crayfish, the viability of Crayfish's
 comprehensive restructuring of its business model, Crayfish's ability to
 effectively implement this business model, market acceptance of new services,
 and its ability to maintain and expand its customer base, in addition to other
 risk factors appearing in its most recently filed Annual Report on Form 20-F
 and Crayfish's other filings from time to time with the United States
 Securities and Exchange Commission.
 
                     MAKE YOUR OPINION COUNT -  Click Here
                http://tbutton.prnewswire.com/prn/11690X35101716
 
 

SOURCE Crayfish Co., Ltd.
    TOKYO and NEW YORK, April 30 /PRNewswire/ -- Monday edition of the Nikkei
 Newspaper reported a Crayfish (Nasdaq: CRFH) restructuring plan.  Although
 Crayfish is currently examining the restructuring plan and items were covered
 in the article regarding the plan, the details of the plan were not yet
 solidified. Crayfish will announce the corporate restructuring plan as soon as
 the plan is finalized.
 
     About Crayfish
     Crayfish is a leading provider of e-mail hosting and other
 Internet-related services for small and medium-sized businesses in Japan. The
 Company offers customizable, reliable and expandable email services and
 Internet solutions under the brand name "DESKWING" as well as other Internet
 application services to enhance its customers' communication, office operation
 and e-commerce capabilities. Founded in 1995, Crayfish had about
 41,000 DESKWING subscribers in Japan as of the end of March 2001.  The Company
 has its American Depository Receipts (ADRs) listed on Nasdaq National Market
 (ticker: CRFH) in the USA, and its common shares listed on MOTHERS (ticker:
 4747) in Japan. Crayfish Co., Ltd. headquarters is located at Shinjuku Park
 Tower 35th Fl. 7-1, Nishi-Shinjuku 3-chome, Shinjuku-ku, Tokyo 163-1035,
 Japan.
 
     This release contains "forward-looking statements" within the meaning of
 the Private Securities Litigation Reform Act of 1995.  To the extent that
 statements in this release do not relate strictly to historical or current
 facts, they may constitute forward-looking statements.  These forward-looking
 statements are based upon management's current assumptions and beliefs in
 light of the information currently available to it, but involve known and
 unknown risks and uncertainties.  Crayfish's actual actions or results may
 differ materially from those discussed in the forward-looking statements.
 Crayfish undertakes no obligation to publicly update any forward-looking
 statements after the date of this release, but investors are advised to
 consult any further disclosures by Crayfish in its subsequent filings pursuant
 to the Securities Exchange Act of 1934. Specific potential risks and
 uncertainties include Crayfish's ability to effectively replace the sales and
 marketing capability of Hikari Tsushin either independently or through agents
 on terms that are favorable to Crayfish, the viability of Crayfish's
 comprehensive restructuring of its business model, Crayfish's ability to
 effectively implement this business model, market acceptance of new services,
 and its ability to maintain and expand its customer base, in addition to other
 risk factors appearing in its most recently filed Annual Report on Form 20-F
 and Crayfish's other filings from time to time with the United States
 Securities and Exchange Commission.
 
                     MAKE YOUR OPINION COUNT -  Click Here
                http://tbutton.prnewswire.com/prn/11690X35101716
 
 SOURCE  Crayfish Co., Ltd.