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News Release

FOR IMMEDIATE RELEASE
February 27, 1998

Notice of Dividend Payment for the Year Ending March 1998 (86th Fiscal Term)

Notice of Dividend Payment for the Year Ending March 1998 (86th Fiscal Term)

Company Name:  Eisai Co., Ltd
Head Office Address:  4-6-10 Koishikawa, Bunkyo-ku, Tokyo
Securities Code Number:  4523
Stock Exchange Listings:  1st section of Tokyo and Osaka Stock Exchanges

Dear Shareholder:
We hereby notify that Eisai Co., Ltd. has decided to propose to its 86th Ordinary Meeting of Shareholders to be held in late June 1998 to pay a year-end dividend of 11.50 yen per share, which is an increase of 2.50 yen per share from the previous period, based on the profit-sharing rule regarding the fourth unsecured convertible bonds issued in November 1995 and in response to the support from all shareholders. Eisai noted in the semi-annual financial report a plan to pay a year-end dividend of 10.00 yen per share (a full year dividend of 20.00 yen).

Year Ending March 1998 (86th Fiscal Term)

Year-End Full-Year
Annual Dividends Plans (Yen) 11.50 21.50
Forecasted Dividends (as of November 4, 1997)(Yen) 10.00 20.00

Reference
Years March Ended 1995 1996 1997 1998
Annual Dividends (Yen) 13.00 15.00 18.00 21.50
Year-End(Yen) 7.00 8.00 9.00 11.50
Note:
Eisai implemented a stock split in the ratio of 1 to 1.05 shares of common stock to the shareholders of record on March 31, 1996.
Inquiries:
Tai Shimizu
General Manager
General Administration Department,
Member, Board of Directors
Phone: 03-3817-5030