Miscellaneous

     
BW20030402002032  20030402T134311Z UTC

( BW)(MITSUBISHI-TOKYO-FIN)(MTF) Miscellaneous

    Business Editors
    UK REGULATORY NEWS

    TOKYO--(BUSINESS WIRE)--April 2, 2003--

                              Revision of Earnings Projections for the Fiscal Year 2002,
                                    and Amount of Investment Securities Write-down
                                                (under Japanese GAAP)


Mitsubishi Tokyo Financial Group, Inc. (MTFG; President:
Shigemitsu Miki) today announced a downward revision of its Japanese
GAAP consolidated earnings projections for the fiscal year 2002, and
of the write-down amounts relating to investment securities held by
its 100% owned subsidiaries, The Bank of Tokyo-Mitsubishi, Ltd. (BTM)
and The Mitsubishi Trust and Banking Corporation (MTBC) as of March
31, 2003. The revision in Japanese GAAP previously projected ordinary
profit is primarily due to the write-down of investment securities
resulting from the weak domestic equity market.


     ----------------------- -------------------------------------------------------------------------------------------


     1. Revised consolidated earnings projections for the fiscal year 2002


                                                                    (unit: billions of Japanese yen, except percentages)

                                            Previous (*1)              Revised              Change                    %
     ----------------------- -------------------------------------------------------------------------------------------
     ------------------------------ --------------------- -------------------- -------------------- --------------------
     Ordinary income                            2,900.0              2,900.0                  0.0                 0.0% 
     ------------------------------ --------------------- -------------------- -------------------- --------------------
     ------------------------------ --------------------- -------------------- -------------------- --------------------
     Ordinary profit (loss)                      (165.0)              (405.0)              (240.0)             (145.4%)
     ------------------------------ --------------------- -------------------- -------------------- --------------------
     ------------------------------ --------------------- -------------------- -------------------- --------------------
     Net income (loss)                           (185.0)              (185.0)            (*2) 0.0                 0.0% 
     ------------------------------ --------------------- -------------------- -------------------- --------------------
     ------ ------------------------------------------------------------------------------------------------------------
     (*1):    Announced November 25, 2002.
     (*2):    Income tax expense is to be decreased due to change in
              effective income tax rate caused to registration of
              taxation of corporation by the size of business (local
              tax) and introduction of consolidated corporate-tax
              system.

2.  Write-down amounts relating to domestic marketable equity securities
Under Japanese GAAP, as of March 31, 2003, the write-down amounts
relating to domestic marketable equity securities in the fiscal year
2002 is expected to be approximately 238.0 billion yen for BTM, and
84.0 billion yen for MTBC, respectively.


------------------------------------------------------------------------------------------------------------------------

Figures for Reference


                                                Mitsubishi Tokyo Financial Group, Inc.
                                       Outline of Earnings Projections for the Fiscal Year 2002
                                                         (under Japanese GAAP)


1. Profit and Loss
                                                                                               (unit: billions of Japanese yen)
---------------------------------------------------------- -------------------------------------------------------------------
                                                           Mitsubishi Tokyo Financial Group, Inc. (MTFG)
                                                                                 ---------------------- ----------------------
                                                                                               BTM(*1)                MTBC(*1)
---------------------------------------------------------- --------------------- ---------------------- ----------------------
---------------------------------------------------------- --------------------- ---------------------- ----------------------
Adjusted net business profit (*2)                                        680.0                  505.0                  175.0
                                                           ..................... ...................... ......................
      .................................................... ..................... ...................... ......................
      FY2001                                                             619.5                  463.3                  156.2
----- ---------------------------------------------------- --------------------- ---------------------- ----------------------
---------------------------------------------------------- --------------------- ---------------------- ----------------------
Net gains (losses) on equity securities (*3)                            (485.0)                (370.0)                (221.0)
                                                           ..................... ...................... ......................
      .................................................... ..................... ...................... ......................
      FY2001                                                            (224.8)                (287.1)                 (19.6)
      ---------------------------------------------------- --------------------- ---------------------- ----------------------
      ---------------------------------------------------- --------------------- ---------------------- ----------------------
      Write-downs of marketable equity securities (*4)                  (322.0)                (238.0)                 (84.0)
----- ---------------------------------------------------- --------------------- ---------------------- ----------------------
---------------------------------------------------------- --------------------- ---------------------- ----------------------
Consolidated ordinary profit (loss)                                     (405.0)                (310.0)                (205.0)
      .................................................... ..................... ...................... ......................
      FY2001                                                            (289.3)                (185.8)                 (56.4)
----- ---------------------------------------------------- --------------------- ---------------------- ----------------------
---------------------------------------------------------- --------------------- ---------------------- ----------------------
Consolidated net income (loss)                                          (185.0)                (175.0)                 (95.0)
      .................................................... ..................... ...................... ......................
      FY2001                                                            (152.3)                  43.9                  (87.6)
----- ---------------------------------------------------- --------------------- ---------------------- ----------------------

(*1):   BTM and MTBC stand for The Bank of  Tokyo-Mitsubishi,  Ltd. and The  Mitsubishi  Trust and Banking  Corporation,
        respectively.
(*2):   Net  business  profit  before  provisions  for  formula  allowance  for loan  losses and credit  costs for trust
        accounts. Figure for MTFG is sum of those for BTM and MTBC.
(*3):   Figure for MTFG is on a consolidated basis, and those for BTM and MTBC are on a non-consolidated basis.
(*4):   Write-downs of domestic  marketable  equity  securities in the FY 2002.  Figure for MTFG is sum of those for BTM
        and MTBC, and those for BTM and MTBC are on a non-consolidated basis.

Adjusted net business profit (sum of BTM and MTBC, under Japanese GAAP)

Adjusted net business profit for the FY 2002 is expected to be 680.0
billion yen, and is also expected to exceed the previously projected
level that was announced in November 2002. Credit related costs for
the FY 2002 are expected to be lower than the adjusted net business
profit.

Net losses on equity securities (consolidated, under Japanese GAAP)

Net losses on equity securities are expected to be 485.0 billion yen
primarily due to the write-down of domestic marketable equity
securities of 322.0 billion yen by BTM and MTBC resulting from the
weak domestic equity market. Net losses on equity securities of BTM
and MTBC include an aggregate amount of 116.0 billion yen of losses
relating to the sale of equity securities of MTFG. On a MTFG
consolidated basis, the sale of MTFG shares will be treated as a
capital transaction, and the losses will be eliminated from the
consolidated net losses on equity securities.

Reduction of equity portfolio (sum of BTM and MTBC, under Japanese GAAP)

BTM and MTBC had plans to reduce their equity portfolios in an
aggregate amount of approximately 1.05 trillion yen in the FY 2002.
BTM and MTBC disposed of equity securities and received proceeds of
approximately 700.0 billion yen and 570.0 billion yen, respectively,
in the FY 2002, resulting in an aggregate amount of approximately 1.27
trillion yen.



2. BIS risk adjusted ratio

------------------------------------------ ------------------------------------------------------------------------------
             Mitsubishi Tokyo Financial Group, Inc. (MTFG)
                                                                      ------------------------- -------------------------
                                                                                BTM                       MTBC
------------------------------------------ -------------------------- ------------------------- -------------------------
------------------------------------------ -------------------------- ------------------------- -------------------------
BIS risk adjusted ratio                          Around 10.5%               10.0%-10.5%               Around 12.0%
------------------------------------------ -------------------------- ------------------------- -------------------------

BIS risk adjusted ratio for MTFG and its subsidiaries are expected to
exceed 10%.

                                                                 * * *


The foregoing forward-looking statements may be materially affected by
regulatory developments or changes in governmental policies, laws,
regulations, voluntary code of practice and interpretations, including
those anticipated to be announced or implemented soon in Japan,
changes in the level of Japanese stock prices, the occurrence of
material new corporate bankruptcies, further developments in the
Japanese or world economic environment, and other factors outside
MTFG's control. These forward-looking statements are not guaranties of
future performance, and actual results may differ materially. Please
see our latest annual report for additional information regarding the
risks in our business.

Inquiries:    Mr. Katsuhiko Ishizuka
              Chief Manager, Financial Policy Division
              Mitsubishi Tokyo Financial Group, Inc.
              Tel. [phone]



   Short Name: Mitsubishi Tokyo Fin
   Category Code: MSC
   Sequence Number: 00003567
   Time of Receipt (offset from UTC): 20030402T103927+0100

    --30--ac/uk*

    CONTACT: Mitsubishi Tokyo Financial Group Inc

    KEYWORD: JAPAN UNITED KINGDOM INTERNATIONAL ASIA PACIFIC EUROPE
    INDUSTRY KEYWORD: BANKING
    SOURCE: Mitsubishi Tokyo Financial Group Inc

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