Nomura Appoints New European Telecoms Analyst

London, 16 November 2006 - Nomura International plc today announced the appointment of Martin Mabbutt as European Telecoms Analyst. Martin rejoined Nomura from Man Securities where he had been Equity Analyst, Pan-European Telecoms.

Martin has over 24 years of experience in telecoms equity research and first joined Nomura in 1989 as Equity Analyst covering Pan European Telecoms Equipment and Telecoms Services Sectors. In addition to working at Nomura, Martin has worked at Deutsche Bank and UBS as a Global Telecoms Strategist and at Morgan Grenfell Securities and Scott Goff Hancock as a Telecoms Analyst.

Martin will be initiating coverage on the following stocks: BT, Cable & Wireless, Deutsche Telekom, France Telecom, KPN, Telecom Italia, Telefónica and Vodafone.

Shuichi Tamai, Managing Director, Head of Research Division said of the appointment:'The arrival of Martin to Nomura’s equity research department completes the line-up of our Europe based telecoms team. As well as offering our clients coverage across the Communications Equipment and Semiconductors sectors through the research of Richard Windsor and Sean Murphy respectively, we can now offer coverage of the large-cap European Telecoms sector through Martin Mabbutt and even in Global Emerging Markets through Richard Ferguson. Martin’s great experience and depth of knowledge of the European Telecoms sector will undoubtedly prove an asset to the department and the company as a whole.'

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For further information please contact:

Name	Company	Telephone
Jessica Shepherd-Smith	Head of Business Communications Nomura International plc	00 44 (0) 20 7521 2480
Allister Fowler	Business Communications Assistant Nomura International plc	00 44 (0) 20 7521 2442

Notes to editors:

The Nomura Group