Press Release
July 28, 2000
Re: Progress Report on Pre-merger Activities
The Sumitomo Marine & Fire Insurance Co., Ltd.
Mitsui Marine & Fire Insurance Co., Ltd.

Following their announcement to merge in October 2001, The Sumitomo Marine & Fire Insurance Co., Ltd (President: Hiroyuki Uemura) and Mitsui Marine & Fire Insurance Co., Ltd (President and CEO: Takeo Inokuchi) have been actively engaged in integration arrangements and in forming early phase business alliances as below, provided, however, that any act and thing to implement any item listed below shall be performed only to the extent that any activities in connection with subsidiaries comply with any and all antitrust and other applicable laws and regulations in Japan, the United States and other jurisdictions.

I. Joint investment in aventure capital limited partnership II. Expansion of reciproc alusage of claims survey subsidiaries
III. Examination of Corporate Identity Strategy   IV. Setup of a common Web site on intranets of both companies

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