TOKYO (Standard&Poor's) April 10, 2003--Standard&Poor's Ratings Services said today that ORIX Corp.'s (BBB/Stable/--) potential losses from exposure to international airlines would not immediately affect its ratings on the company. Standard&Poor's expects the potential losses to be manageable given the size of ORIX's profitability and capital. Nevertheless, ORIX's exposure to the airline industry will continue to carry high risks. According to a recent announcement, ORIX will report about ¥3 billon in losses for fiscal 2002 (ended March 31, 2003) from its exposure to United Air Lines Inc. (D/--/--) and Air Canada (D/--/--). However, these losses will have only a minor impact on its profitability. ORIX currently has about ¥120 billion exposure to the airline industry,
