Mitsubishi Tokyo Financial Group Inc

                Mitsubishi Tokyo Financial Group, Inc.
                    Tokyo Stock Exchange Code; 8306

                Mitsubishi Tokyo Financial Group, Inc.
Revisions of earning projections for the fiscal year ending March 31, 2004 
                         (Under Japanese GAAP)

Mitsubishi Tokyo Financial Group, Inc. (MTFG; President: Shigemitsu Miki) today
announced that it revised its earning projections on non-consolidated basis for
the fiscal year ending March 31, 2004. These revisions were primarily due to the
increase of dividends that subsidiaries pay to MTFG.

Earning projections on non-consolidated basis for the fiscal year ending March
31, 2004 under Japanese GAAP

                            (in billions of Japanese yen, except percentages)

                                    As
                                 previously
                                 announced   As
                                     *      revised    Increase/(Decrease)
----------------------------------------------------------------------
Operating income                      44.0    69.0       25.0    56.8%
----------------------------------------------------------------------
Ordinary profit                       40.0    64.0       24.0    60.0%
----------------------------------------------------------------------
Net income                            40.0    64.0       24.0    60.0%
----------------------------------------------------------------------

*Announced on May 26, 2003

Inquiries:          
Katsuhiko Ishizuka
Chief Manager, Financial Policy Division
Mitsubishi Tokyo Financial Group, Inc.
Tel. +81-3-3240-8211

This information contains forward-looking statements and other forward-looking
    information relating to MTFG (the "forward-looking statements"). The
    forward-looking statements are not historical facts and include, reflect or
    are otherwise based upon, among other things, MTFG's current estimations,
    projections, views, policies, business strategies, targets, expectations,
    assumptions and evaluation with respect to general economic conditions, the
    results of operations, the financial condition, MTFG's management in general
    and other future events. Accordingly, they are inherently susceptible to
    uncertainties, risks and changes in circumstances and are not guarantees of
    future performance.

Some forward-looking statements represent targets that MTFG's management will
    strive to achieve through the successful implementation of MTFG's business
    strategies. MTFG may not be successful in implementing its business
    strategy, and actual results may differ materially, for a wide range of
    possible reasons.

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 disclaims 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.

For detailed information relating to uncertainties, risks and changes regarding
    the forward-looking statements, please see MTFG's latest annual report and
    other disclosures.