J Bridge Corp : Notice of Exercise of Warrants to the Holder of the No. 8 Stock Acquisition Rights

?TRANSLATION FOR REFERENCE ONLY?

March 21, 2012

Company Name: Asia Alliance Holdings Co., Ltd. Representative: Yoshinori Funato, President and CEO (Code No.: 9318 at 2nd Section of Tokyo Stock Exchange) Contact: Hiroyuki Ueno

Corporate Planning Department, General Manager

(TEL?03-5638-8562?

Notice of Exercise of Warrants to the Holder of the No. 8 Stock Acquisition Rights

Asia Alliance Holding Co., Ltd.("the Company") is pleased to announce that the No. 8 Stock
Acquisition Rights issued on July 2, 2007 has been exercised today and details are as follows-
1. Details of the Warrant Exercised

I. Name of the Warrants	the No. 8 Stock Acquisition Rights
II. Date of exercised	March 21, 2012
III. Name of warrant holder	Long Set Investments Limited
IV. Number of warrants exercised	2,200 units
V. Number of shares delivered	3,665,200shares?1,666/unit?
VI. Exercise price	JPY 30/share
VII. Total exercise price	JPY109,956,000
VIII. Total Number of warrants	80,000units
IX. Total Number of remaining unexercised warrants	64,300units Sun Hung Kai Investments Service Ltd: 8,800units Long Set Investments Limited: 55,500units

2. Total number of shares outstanding as of March 20, 2012
180,694,629shares (including treasury stock ? 15,909shares)