March 27, 2000 Full-scale Alliance and Scheduled Merger of The Sumitomo M&F and Mitsui M&F General Merger Information 1. Date of merger The two companies will merge in October 2001. As for the timing of the merger, the principals examined the earliest possible date to allow for full preparations and to avoid customer inconvenience. In consideration of the primary factors which affect customer service most directly,such as integration of essential systems, products, and business procedures, and to ensure that the new group could proceed with full steam immediately after the merger, the above date was deemed to be the most appropriate. 2. Merger ratio The merger ratio will be determined by the two principals following an assessment of corporate values by independent third-party appraisals. 3. New name, domicile, and surviving company These items are to be examined and scheduled to be determined in December 2000 in accordance with the objectives of the Basic Agreement.