July 28, 2000 Re: Progress Report on Pre-merger Activities Examination of Corporate Identity Strategy 1. Examining structure The new company will emphasize a corporate identity strategy by which to strengthen the worth of the new company's brand name. As a first step towards developing such a strategy, a project team reporting directly to the Integration Committee has been established. The task of the team will be to develop a fresh brand name for the new company, as well as a corporate logo, corporate colors, and company slogan. 2. Appointment of advisor for corporate identity and brand strategy The Sumitomo M&F and Mitsui M&F jointly appointed an advisor for the development of a corporate identity and brand strategy with its comprehensive advice as to the overall public relations strategy, development of a basic corporate design, and the design of printed material, forms, signboards, and other advertising and public relations items. The basic corporate design will be selected by competition; specifically, the leading graphic design companies will be invited to submit samples. The goal is to have the best design selected before the end of the year.