Settlement with Tokyo Metropolitan Government

    Mitsubishi Tokyo Financial Group Inc

         Settlement Reached with Tokyo Metropolitan Government
                   Regarding Large Bank Tax Lawsuits

Mitsubishi Tokyo Financial Group, Inc. (MTFG; President: Shigemitsu Miki) today
announced that its subsidiaries The Bank of Tokyo-Mitsubishi, Ltd. (BTM) and
Mitsubishi Trust and Banking Corporation (MTBC) had today at the Supreme Court
made settlement-at-court ("soshoujou-no-wakai") with the Tokyo Metropolitan
Government and the Tokyo Governor and withdrawn their complaints regarding the
Tokyo Metropolitan Government's tax on large banks.

As announced on October 2, 2003, due to this settlement BTM and MTBC expect to
record special gains of approximately 32.1 billion Japanese yen and
approximately 9.8 billion Japanese yen respectively in their consolidated
financial statements for the six months ended September 30, 2003.

This event is not expected to have any material effect on MTFG's business
forecast for the current fiscal year announced on September 30, 2003.

For further information please contact:

Mitsubishi Tokyo Financial Group, Inc.                                
Mr. Kohei Tsushima               
General Manager                  
Corporate Communications Office  
Tel. [phone]                                                   

The foregoing forward-looking statements and other information
relating to MTFG (such statements and information are hereafter
referred to as the "Forward-Looking Statements") are not historical
facts and include, reflect or are otherwise based upon, among other
things, the MTFG's current projections, views, policies, business
strategies, targets, expectations, assumptions and evaluations with
respect to general economic conditions, the result of operations,
financial condition, its management in general and other future
events.

Some Forward-Looking Statements represent targets that the MTFG's
management will strive to achieve through the successful
implementation of the MTFG's business strategies. Accordingly, they
are inherently susceptible to uncertainties, risks and change in
circumstances and are not guarantees of future performance. MTFG may
not be successful in implementing its business strategy, and actual
results may differ materially, for a wide range of possible reasons.

For the important factors that could cause these differences, please
see MTFG's latest annual report or other disclosures publicly
available.

In light of the many risks, uncertainties and possible changes, you
are advised not to put undue reliance on the Forward-Looking
Statements. MTFG is under no obligation - and expressly disclaim any
obligation - to update or alter the Forward-Looking Statements, except
as may be required by any applicable laws and regulations or stock
exchange rules.