Statement re dissolving Sumitomo Mitsui Finance Australia

    Sumitomo Mitsui Banking

Sumitomo Mitsui Financial Group Announces to Dissolve Sumitomo Mitsui
Finance Australia Limited

Sumitomo Mitsui Financial Group, Inc. announced that it dissolved
Sakura Finance Australia Limited, one of the overseas subsidiaries of
Sumitomo Mitsui Banking Corporation (SMBC), its fully owned company.

1. Outline of the Subsidiary


Corporate Name   Sumitomo Mitsui Finance Australia Limited
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Location         Level 40, The Chiefley Tower 2, Chiefley Square, Sydney,
                  NSW2000, Australia
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Representative   Hajime Kadota, Managing Director
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2. Reason for Dissolution

To improve efficiency of overseas businesses

3. Profile of the Subsidiary


Business                    Finance, Investment, Foreign exchange
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Date of Establishment       27 March 1986
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Paid-in Capital             AUD 54,000 thousand
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Shareholders' Equity        AUD 60,795 thousand
(as of December 31, 2002)
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Total Assets                AUD 67,576 thousand
(as of December 31, 2002)
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Fiscal Year End             December
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Number of employees         0 (Japanese expatriate 0, Local hire 0)
(as of September 30, 2003)
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Shareholders                100% owned by SMBC
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Recent Performance                                 Dec. 2000     Dec. 2001     Dec. 2002
(Unit: million JPY)         -------------------------------------------------------------
                            Operating profit          53,210         5,468         4,881
                            -------------------------------------------------------------
                            Net income                 3,561         4,503         4,391
                            -------------------------------------------------------------
                            Total assets                 320           467           242
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4. Date of Dissolution

January 25, 2004

5. Impact on SMFG's performance

There will be no impact on SMFG's performance.