May 31, 2000 Update on Preparations for the Merger of Sumitomo Marine and Mitsui Marine Personnel Exchange (About 200 Employees)   In advance of the actual integration, our mutual personnel exchange process willbegin in June. This first-phase exchange will involve 200 employees from alldivisions at both head offices, including systems division staff and other personnel, tohelp accelerate joint development efforts and facilitate effective utilization of ourshared business expertise. While closely monitoring the outcome of this first phase of our personnel exchange,we will continue with plans for all-out personnel exchanges between our two firmsin the future, with a view to accelerating the consolidation of our operations,promoting mutual understanding and implementing smooth and speedy integration.