Return of Proxy Portion of BTM Pension Fund

     
BW20030814002001  20030814T102754Z UTC


( BW)(MITSUBISHI-TOKYO-FIN)(MTF) Return of Proxy Portion of BTM Pension Fund

    Business Editors
    UK REGULATORY NEWS

    TOKYO--(BUSINESS WIRE)--Aug. 14, 2003--

Mitsubishi Tokyo Financial Group, Inc. (MTFG; President: Shigemitsu
Miki) announced today that its subsidiary, The Bank of
Tokyo-Mitsubishi, Ltd. (BTM) received approval of a waiver of its
future obligations in respect of the proxy portion of its pension
fund, The Bank of Tokyo-Mitsubishi Pension Fund. The approval was
received from the Minister of Health, Labour and Welfare on August 1,
2003, based on the Law Concerning Defined-Benefit Corporate Pension
Plans.

BTM will apply the transitional measures laid down in the `Practical
Guideline Concerning Retirement Benefit Accounting (Interim Report)'-
Report of the Accounting Committee of the Japanese Institute of
Certified Public Accountants No. 13, Section 47-2. As a result, the
elimination of BTM's retirement benefit obligations in respect of the
proxy portion of its pension fund has been recognized as of the date
of approval.

In consequence of the above, an extraordinary profit of approximately
26 billion Japanese yen is expected to be recorded for the current
fiscal year under Japanese GAAP.

This event is not expected to have any material effect on MTFG's
previously announced business forecast for the current fiscal year.

For further information please contact:

Mitsubishi Tokyo Financial Group, Inc.

Mr. Kohei Tsushima
General Manager
Corporate Communications Office
Tel. [phone]

   Short Name: Mitsubishi Tokyo Fin
   Category Code: RC
   Sequence Number: 00008404
   Time of Receipt (offset from UTC): 20030814T082844+0100

    --30--KO/uk*

    CONTACT: Mitsubishi Tokyo Financial Group Inc

    KEYWORD: JAPAN UNITED KINGDOM INTERNATIONAL ASIA PACIFIC EUROPE
    INDUSTRY KEYWORD: BANKING
    SOURCE: Mitsubishi Tokyo Fin

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