Trend Micro Notice of Adjustments of Exercise Prices

Tokyo, Japan - February 26, 2001 - Trend Micro Inc. (NASDAQ:TMIC, Tokyo TSE:4704), a leading provider of antivirus and Internet content security software, today announced that the Company has decided to adjust the Exercise Prices in connection with its outstanding unsecured bonds with subscription warrants as follows:

1. Adjustments of the Exercise Prices

Name of Bonds New Exercise Price
after Adjustment
Currently Effective
Exercise Price
1st series of unsecured bonds with subscription warrants ¥142.50 ¥285
2nd series of unsecured bonds with subscription warrants ¥142.50 ¥285
3rd series of unsecured bonds with subscription warrants ¥142.50 ¥285
4th series of unsecured bonds with subscription warrants ¥3,200 ¥6,400
5th series of unsecured bonds with subscription warrants ¥7,850 ¥15,700

2. Effective Date:

New Exercise Prices will become effective from April 1, 2001.

3. Reason for the Adjustments:

The board of directors of the Company adopted, at its meeting held on February 15, 2001, the resolution in respect of the stock split.