SHINWA ART AUCTION

SHINWA ART AUCTION
Modern Art
18 July, 2009

The following prices in YEN not including the Buyer's Premium.

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LOT	PRICE	LOT	PRICE	LOT	PRICE	LOT	PRICE
1	360,000	41	1,850,000
2	480,000	42	2,500,000
3	600,000	43	2,200,000
4	1,100,000	44	2,100,000
5	1,050,000	45	6,200,000
6	920,000	46	500,000
7	740,000	47	1,550,000
8	860,000	48	3,200,000
9	2,500,000	49	740,000
10	3,600,000	50	860,000
11	660,000	51	2,000,000
12	2,900,000	52	3,300,000
13	1,050,000	53	5,000,000
14	3,900,000	54	5,000,000
15	7,000,000	55	12,000,000
16	500,000
17	620,000
18	500,000
19	960,000
20	640,000
21	1,100,000
22	400,000
23	500,000
24	300,000
25	460,000
26	420,000
27	520,000
28	580,000
29	820,000
30	860,000
31	800,000
32	740,000
33	800,000
34	440,000
35	1,600,000
36	1,050,000
37	760,000
38	800,000
39	1,750,000
40	1,100,000

Modern Art Auction Result
The percentage of successful bids: 100.00%	Sale total: JPY 95,740,000