Statement re

     
BW20030623000090  20030623T141003Z UTC



( BW)(SUMITOMO-MITSUI-BNKG)(SBK) Statement re: Sumitomo Mitsui
Financial Group Announces Possibility of not Recovering Claims

    Business Editors
    UK REGULATORY NEWS

    TOKYO--(BUSINESS WIRE)--June 23, 2003--

Sumitomo Mitsui Financial Group, Inc.  ("SMFG")  announced today that its subsidiary  Sumitomo
Mitsui  Banking  Corporation  may not be able to recover its claims on Asia & Pacific  Trade Center Co.,  Ltd.,  World
Trade Center Building  (Osaka),  Inc., and Minatomachi  Development  Center Co., Ltd. because they have applied to the
Osaka Summary Court for special arbitration on June 20, 2003.

1. Outline of the companies
o        Asia & Pacific Trade Center Co., Ltd.

      (1) Address:                  2-1-10, Nankokita, Suminoe-ku, Osaka
      (2) Representative:  Mr. Masaru Ishibe
      (3) Capital stock:   JPY 22,111 million

o        World Trade Center Building (Osaka), Inc.

      (1) Address:                  1-14-16, Nankokita, Suminoe-ku, Osaka
      (2) Representative:  Mr. Eiichi Sakaguchi
      (3) Capital stock:   JPY 9,400 million

o        Minatomachi Development Center Co., Ltd.

      (1) Address:                  1-4-1, Minatomachi, Naniwa-ku, Osaka
      (2) Representative:  Mr. Yoshito Ohnishi
      (3) Capital stock:   JPY 8,000 million

2. Background
  On June 20, 2003, the companies applied to the Osaka Summary Court
for special arbitration.

3. Amount of claims on the companies
   World Trade Center Building (Osaka), Inc.         JPY 18,538 million
   Asia & Pacific Trade Center Co., Ltd.    JPY  7,980 million
   Minatomachi Development Center Co., Ltd.          JPY  3,012 million
                                                     ------------------
        Total                               JPY 29,530 million

4. Forecast of SMFG's financial results
   SMFG's financial forecast for the year ending March 31, 2004,
announced on May 26, 2003, is not revised.

   Short Name: Sumitomo Mitsui Bnkg.
   Category Code: STR
   Sequence Number: 00006256
   Time of Receipt (offset from UTC): 20030623T150325+0100

    --30--ZW/uk*

    CONTACT: Sumitomo Mitsui Bnkg


    KEYWORD: UNITED KINGDOM JAPAN INTERNATIONAL EUROPE ASIA PACIFIC
    INDUSTRY KEYWORD: BANKING
    SOURCE: Sumitomo Mitsui Bnkg

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