OKI Develops Online ''IC Cash Card'' Authentication Server

- Compliant with JBA IC Cash Card Specifications, the Server Will
Be Offered to Financial Institutions in Japan -
TOKYO--(Business Wire)--Oki Electric Industry Co., Ltd. (TOKYO:6703) announced it has
developed an IC authentication server that enables online
authentication for IC cash cards. The server is compliant with
Japanese Bankers Association (JBA) IC Cash Card Specifications (2nd
edition) and enables financial institutions to shift to a safe and
quick online IC cash card authentication system with minimum effect on
their existing systems. OKI has been taking orders from financial
institutions in Japan, and initial shipment is planned in October
2008.

"As the top ATM (Automated Teller Machine) vendor in Japan, we are
pleased to announce this server which will be provided to financial
institutions in Japan," said Shigeru Yamamoto, President of Financial
Solutions Company at Oki Electric Industry. "We will be developing ATM
systems compliant with online authentication to support safe and
accurate system migration. OKI will also provide total support service
from requirement definition to design and packaging, through to
operation and maintenance, thus responding to each stage of the system
lifecycle."

As unauthorized withdrawals from ATMs are becoming a social
problem due to stolen or fraudulently used cash cards, demand for
reliability and safety of ATM transactions is increasing. Financial
institutions have been shifting from a traditional magnetic stripe
cash card to an IC cash card, which is more difficult to forge and is
thus safer. In addition, during the preparatory period set by JBA,
banks will authenticate cash cards offline and eventually shift the
system to an online-based authentication system, which will be the
basic form going forward.

The newly developed online IC authentication server verifies the
IC card at the server level by linking with the ATM, whereas
conventionally just the ATMs were used for authentication. By using
this server, financial institutions can limit their cost of developing
backbone hosts and can keep processing load to a minimum as the server
handles all the complex authentication processes using an encryption
key. By mitigating the differences between offline and online
processing with this server, banks can seamlessly migrate to online
authentication method with low risk, without affecting existing
systems. In addition, by using a server independent from the backbone
host, banks can flexibly respond to future requirements for function
expansion and processing capability enhancements. In this way,
financial institutions can gradually shift to server and respond
flexibly to increases in transaction volume.

About Oki Electric Industry Co., Ltd.

Founded in 1881, Oki Electric Industry Co., Ltd. is Japan's first
telecommunications manufacturer, with its headquarters in Tokyo,
Japan. OKI provides top-quality products, technologies and solutions
to its customers through its info-telecom system business,
semiconductor business and printer business. All three businesses
function as a collective force to create exciting new products and
technologies that satisfy a spectrum of customer needs in various
markets. Visit OKI's global web site at http://www.oki.com/.

Notes:

-- Names of companies and products are trademarks or registered
trademarks of the respective companies and organizations.

Oki Electric Industry Co., Ltd.
For Europe and Americas:
Naomi Takeuchi, +1-408-737-6279
Public Relations Division
press@oki.com
For Asia and Other Areas:
Akiko Horiguchi, +81-3-3580-8950
Public Relations Division
press@oki.com

Copyright Business Wire 2008