Notice of Receipt of Demand from Hikari Tsushin, Inc.

Apr 27, 2001, 01:00 ET from Crayfish Co., Ltd.

    TOKYO and NEW YORK, April 27 /PRNewswire/ --
 Crayfish Co., Ltd. (Nasdaq:   CRFH; MOTHERS: 4747), a leading provider of e-mail
 and other Internet-related services to small and medium-sized businesses in
 Japan, announced that it received today a formal written demand from Hikari
 Tsushin, Inc. (Hikari), its largest shareholder, to add an agenda item for a
 General Shareholders' Meeting to be held in June 2001.  Under Japanese law, a
 shareholder owning 3% or more of the outstanding shares of a company for a
 consecutive period of six months may request that items be  added to the
 agenda of a shareholders meeting.  Hikari owned 4,119 Crayfish shares out of
 10,206 outstanding shares as of March 31, 2001.
     In the written notice, Hikari has requested that the following agenda item
 be approved at a General Shareholders' Meeting to be held in June 2001:
     Appointment of four corporate auditors, i.e., Kazuhiko Yabe, Jyunji Tsuge,
 Satoshi Suga and Jyunnosuke Kogure.
     Isao Matsushima, the president and representative director, commented:
 "Crayfish takes this demand very seriously.  The Company is considering
 carefully the schedule and agenda items for the shareholders' meeting.
 Crayfish is also currently organizing a restructuring plan under the current
 management and will finalize the plan as soon as possible."
 
     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 e-mail 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/11690X85587474
 
 

SOURCE Crayfish Co., Ltd.
    TOKYO and NEW YORK, April 27 /PRNewswire/ --
 Crayfish Co., Ltd. (Nasdaq:   CRFH; MOTHERS: 4747), a leading provider of e-mail
 and other Internet-related services to small and medium-sized businesses in
 Japan, announced that it received today a formal written demand from Hikari
 Tsushin, Inc. (Hikari), its largest shareholder, to add an agenda item for a
 General Shareholders' Meeting to be held in June 2001.  Under Japanese law, a
 shareholder owning 3% or more of the outstanding shares of a company for a
 consecutive period of six months may request that items be  added to the
 agenda of a shareholders meeting.  Hikari owned 4,119 Crayfish shares out of
 10,206 outstanding shares as of March 31, 2001.
     In the written notice, Hikari has requested that the following agenda item
 be approved at a General Shareholders' Meeting to be held in June 2001:
     Appointment of four corporate auditors, i.e., Kazuhiko Yabe, Jyunji Tsuge,
 Satoshi Suga and Jyunnosuke Kogure.
     Isao Matsushima, the president and representative director, commented:
 "Crayfish takes this demand very seriously.  The Company is considering
 carefully the schedule and agenda items for the shareholders' meeting.
 Crayfish is also currently organizing a restructuring plan under the current
 management and will finalize the plan as soon as possible."
 
     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 e-mail 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/11690X85587474
 
 SOURCE  Crayfish Co., Ltd.