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Analyst Meeting Analyst Meeting Presentation Material Presentation Material June 1, 2006 Mitsui Trust Financial Group

Agenda Ⅰ . Management Strategies ・ ・ Management Direction Recomposition of Revenue Structure ・ Management Objectives: Results and Plan ・ ・ Low Cost Operations Profitability & Efficiency ・ ・ Financial Summary Revenues by Business Unit Ⅱ . Business Operations 1. Expansion of Fee Businesses 2. Increase Efficiency of Banking Business 3. New Businesses Ⅲ . Strengthening of Balance Sheet ・ ・ Disposal of NPLs NPLs Balance & NPLs Ratio ・ ・ Equity Portfolio Bond Portfolio ・ ・ Deferred Tax Assets Capital Mitsui Trust Financial Group 1

Ⅰ . Management Strategies • Management Direction • Recomposition of Revenue Structure • Management Objectives: Results and Plan • Low Cost Operations • Profitability & Efficiency • Financial Summary • Revenues by Business Unit Mitsui Trust Financial Group 2

Management Direction Management Direction Mitsui Trust Financial Group FY3/07 ～ ～ FY3/06 Actions Recomposition Increase concentration on high margin & high Acceleration of revenue growth segments Increase structure Increasing Turn new businesses profitability total into profit drivers investment of management Thoroughly resources Increase revenues Maintaining efficient efficient Continuation management management Strengthening of Balance Sheet ・ Accomplished To accomplish Final disposal of NPLs ・ Reduction of equity portfolio Mitsui Trust Financial Group 3

Recomposition of Revenue Structure Recomposition of Revenue Structure [Composition of gross operating profit] Conventional Banking Business *1 � Corporate loans 3 2 % 3 3 % � Bond investment, etc. 4 5 % *1 Financial intermediary business between household 5 6 % and corporate sector, and bond investments 6 3 % Priority Segments 1 5 % � Loans to individuals 1 5 % Enhancement of Investment Trust & (Housing loans, etc.) Annuity Insurance Sales 4 % 9 % Real estate asset finance and Real Estate Business 1 5 % � Alternative investments 1 3 % 3 % 1 2 % � Asset management 1 5 % 67% 68% 9 % 1 3 % 1 % — Investment trust & 1 2 % 55% 0 % 1 1 % 5 % Annuity insurance sales 8 % 2 % Turn Business Loan, 43% 4 % 3 % 37% Corporate Restructuring & — Real estate Revitalization Businesses 2 2 % — Stock transfer agency into profit drivers 2 1 % 2 0 % 1 9 % 1 9 % — Pension/Securities, etc. 1 % F Y 3 / 0 3 F Y 3 / 0 4 F Y 3 / 0 5 F Y 3 / 0 6 F Y 3 / 0 7 (Plan ） Mitsui Trust Financial Group 4

Management Objectives: Results and Plan FY3/07 Plan Items FY3/06 Actual Recomposition of Revenue Structure Revenues of ¥ 34.4 bn Investment trust & [Record High] Revenues: ¥ 36.5 bn annuity insurance sales （ ¥8.4 bn increase, or 32 % increase YoY ） Revenues of ¥ 30.3 bn Real estate [Record High] Revenues: ¥ 35.0 bn related fees （ ¥5.0 bn increase, or 20 % increase YoY ） New origination of ¥ 701.3 bn Same level of new Housing loans [Record High] origination in FY3/06 （ ¥90.1 bn increase, or 15 % increase from 3/05 ） Strengthening of Balance Sheet Actual: 1.8 % from 2.8 % in 3/05 NPLs Ratio *1 Estimate: Low 1.0 % level （ Achieved target of lower than 2.0% ） Resolution of NPL problem Credit costs *1 Estimate: ¥ 20.0 bn by use of ¥65.6bn for clean up Reduction of equity portfolio *2 Actual: 62 % of Tier1 from 73 % in 3/05 50 % level of Tier1 DTAs *2 Actual: 18 % of Tier1 from 35 % in 3/05 Low 10 % level of Tier1 * 1 CMTB, non-consolidated * 2 MTH, consolidated Mitsui Trust Financial Group 5

Low Cost Operations Low Cost Operations (CMTB+MATB) # of employees & branches 2 0 0 8,000 7,852 FY3/06 Actual FY3/07 Plan Items (employees) 6,787 (branches) 166 (9) 1 5 0 6,000 Proactive investment of Operating 5,236 119 ¥ 6.7 bn decrease YoY management resources in high 4,585 (17) Expenses margin & high growth segments 68 1 0 0 4,000 67 (17) (16) 35 % Maintain current efficiency OHR 5 0 2,000 Lowest among Japanese # of employees # of branches major banks # of employees:MTH+CMTB+MATB # of branches: CMTB 0 0 A s o f 3 / 0 0 3 / 0 2 3 / 0 4 3 / 0 6 Operating Expenses （ CMTB+MATB ） Figures in parenthesis are for consulplazas 54% 52% (in-store mini branches) 2 0 0 Personnel expenses Non-personnel expenses Tax expenses 190.0 178.4 50% OHR (Yen bn) 44% 163.6 149.4 41% 1 5 0 128.0 9 6 . 0 36% 35% 37% 9 2 . 8 Maintain high efficiency 107.0 107.0 8 7 . 4 102.6 7 6 . 1 and increase investment of 1 0 0 6 7 . 9 management resources in 6 4 . 8 6 1 . 3 6 0 . 5 high margin & high growth 5 0 8 7 . 0 7 7 . 7 segments 6 9 . 6 6 7 . 4 5 5 . 4 3 6 . 7 3 4 . 4 4 0 . 1 0 (Plan) F Y 3 / 0 0 F Y 3 / 0 1 F Y 3 / 0 2 F Y 3 / 0 3 F Y 3 / 0 4 F Y 3 / 0 5 F Y 3 / 0 6 F Y 3 / 0 7 Mitsui Trust Financial Group 6

Profitability & Efficiency Profitability & Efficiency: Comparison of Major Banking Groups (FY3/06) 2.5% Good Mitsui Trust Gross operating profit Profitability & Efficiency: Total assets (ending balance ） Top among major banking groups Gross operating profit 2.0% =2.2% Other major banking groups Total assets High Overhead ratio = 35.4% ↑ Profitability ↓ Low 1.5% Poor 1.0% 5 5 % 5 0 % 4 5 % 4 0 % 3 5 % 3 0 % Low ← Efficiency → High Overhead ratio Mitsui Trust Financial Group 7

Financial Summary F Y 3 / 0 6 H i g h l i g h t s & F Y 3 / 0 7 O u t l o o k a b d (Yen bn) CMTB+MATB Actual c:b-a Outlook e:d-b Combined totals FY3/05 FY3/06 Change FY3/07 Change Gross operating profit *1 298.1 283.3 (14.8) 287.0 3.7 [ 3 4 . 4 ] [ 1 6 . 2 ][ ( 1 8 . 2 ) ] [ 0 . 0 ][ ( 1 6 . 2 ) ] [ o f w h i c h h o u s i n g l o a n s e c u r i t i z a t i o n p r o f i t ］ 107.0 100.2 (6.7) 107.0 6.8 Operating expenses [minus] 36% 35% (1)% 37% 2% Overhead ratio Pre-provision profit *2 191.1 183.0 (8.0) 180.0 (3.0) 15.8 26.5 10.7 0.0 (26.5) Net stock-related profit [ ( 0 . 0 ) ] [ 3 . 6 ] [ 3 . 6 ] - - [ o f w h i c h c a p i t a l g a i n o n a l t e r n a t i v e i n v e s t m e n t s ］ 149.9 125.2 (24.6) 150.0 24.8 Recurring profit 47.1 0.1 (47.0) 19.0 18.9 Deferred income taxes [minus] 92.1 118.2 26.1 120.0 1.8 Net income 43.9 65.6 21.7 20.0 (45.6) Credit costs [minus] MTH, Consolidated FY3/05 FY3/06 Change FY3/07 Change 157.4 138.3 (19.0) 160.0 21.7 Recurring profit 94.0 119.6 25.6 120.0 0.4 Net income ROE *3 19% 23% 4% 19% (4)% * 1 Before trust a/c credit costs * 2 Effective net operating profit before trust a/c credit costs & provision (reversal) of general reserve * 3 Average balance of outstanding capital was used as divisor Mitsui Trust Financial Group 8

Revenues by Business Unit Revenues by Business Unit a b d CMTB+MATB Actual c:b-a Growth Outlook e:d-b Growth CAGR Combined totals FY3/05 FY3/06 Change rate FY3/07 Change rate FY3/05~ Asset management business 108.5 125.9 17.4 16% 134.0 8.1 6% 11% 26.0 34.4 8.4 32% 36.5 2.1 6% 18% Investment trust & annuity insurance sales 25.3 30.3 5.0 20% 35.0 4.7 16% 18% C M T B Real estate 15.7 16.7 1.0 6% 16.0 (0.7) (4)% 1% Stock transfer agency 24.9 25.7 0.8 3% 28.5 2.8 11% 7% Pension M A T B 8.8 10.5 1.7 19% 12.5 2.0 19% 19% Securities [ of which Investment advisory fee & trust fee] [3.9] [6.1] [2.2] [56%] [8.0] [1.9] [31%] [43%] 7.5 8.2 0.7 9% 5.5 (2.7) (33)% (14)% Others 189.5 157.4 (32.1) (17)% 153.0 (4.4) (3)% (10)% Banking business 118.5 106.6 (11.9) (10)% 108.0 1.4 1% (5)% Excl. * Financing business 3 a/c total, others 46.0 41.0 (5.0) (11)% 44.0 3.0 7% (2)% * Loans to individuals, Real estate asset finance 34.4 16.2 (18.2) (53)% 0.0 (16.2) - - Housing loan securitization profit (9.4) (6.4) 3.0 - 1.0 7.4 - - Net bond-related profit Gross operating profit 298.1 283.3 (14.8) (5)% 287.0 3.7 1% (2)% Operating expenses 107.0 100.2 (6.8) (6)% 107.0 6.8 7% 0% 191.1 183.0 (8.1) (4)% 180.0 (3.0) (2)% (3)% Pre-provision profit Mitsui Trust Financial Group 9

Ⅱ . Business Operations 1. Expansion of Fee Businesses 2. Increase Efficiency of Banking Business 3. New Businesses Mitsui Trust Financial Group 10

Ⅱ - 1. Expansion of Fee Businesses • Investment Trust & Annuity Insurance Sales • Real Estate Business • Stock Transfer Agency Business • Pension & Securities Business of MATB Mitsui Trust Financial Group 11