February 18, 2000 Formation of New Comprehensive Insurance & Financial Services Group The Sumitomo Marine & Fire Insurance Co., Ltd. Mitsui Marine & Fire Insurance Co., Ltd. The Sumitomo Marine & Fire Insurance Co., Ltd. (President: Hiroyuki Uemura) and Mitsui Marine & Fire Insurance Co., Ltd. (CEO & President: Takeo Inokuchi) have been engaged in preliminary discussions about a possible business alliance for the past week. Having agreed on the following points, the two parties have agreed to enter into further negotiations as to a merger aimed at forming a new comprehensive insurance and other related financial services group. Specific details as to the integration plan are scheduled to be announced by the end of March. I. Market Environment II. Objectives of Intergration III. Corporate Vision of New Group   IV. Integration Schedule V. Integration Ratio   VI. IntegrationStrategy Organization VII. Integration Plan   VIII. Stucture of New Group After Integration IX. Primary Bisiness Indicators of the Two Companies