Re:  Matsui Securities Co., Ltd. (the "Company")
        JPY 40,000,000,000 Zero Coupon Convertible Bonds due 2011 (the "Bonds")
        (ISIN: XS0179678270  Common Code: 017967827)



                        PURCHASE AND CANCELLATION NOTICE


                   Matsui Securities Co., Ltd. (the "Company")
         JPY 40,000,000,000 Zero Coupon Convertible Bonds due 2011 (the "Bonds")
                  (ISIN: XS0179678270  Common Code: 017967827)



NOTICE IS HEREBY GIVEN by Matsui Securities Co., Ltd. (the "Company") to the
holders of the outstanding JPY 39,800,000,000 Zero Coupon Convertible Bonds due
2011 of the Company (ISIN: XS0179678270  Common Code: 017967827) (the "Bonds"),
of a partial purchase andcancellation of the Bonds in accordance with Condition
6.6 and 6.7 of the Bonds as follows:

Amount purchased and     JPY 8,298,000,000 in total principal
to be cancelled:         amount of the Bonds

Date of Cancellation:    7 April 2009 (scheduled)

Principal outstanding    JPY 31,502,000,000
amount after
cancellation:

Impact on financial      JPY 581 million of gains on
results of the           cancellation of the Bonds will be
Company:                 recorded in the fiscal year ended
          March 2010

(Reference) Major Contents of the Bonds

  Date of issue:         17 November 2003
  Total issue amount:    JPY 40,000,000,000
  Principal outstanding amount
  before cancellation:   JPY 39,800,000,000 (as of 28 February 2009)
  Maturity date:         31 March 2011
  Interest rate:         Zero coupon
  Conversion price:      JPY 1,189.5

 Dated: 31 March 2009