Tokyo-Mitsubishi International PLC

As Agent Bank, please be advised of the following rate determined on: 12-Nov-2003

Issue               : Tokyo Mitsubishi International plc - Series 326 
                      JPY 600,000,000 Fixed/Index Linked FRN due 14 Nov 2022
ISIN Number         : XS0157080937
Issue Nomin     JPY : 600,000,000.00
Period              : 14-Nov-2003 to 14-May-2004       Payment Date 14-May-2004
Number of Days      : 182
Rate                : 2.187
Denomination   JPY  : 100,000.000

Amount Payable 
per Denomination    : 1,090,504

Institutional       Telephone   44(0) 1202 34 1286
Trust Services      Facsimile   44(0) 1202 34 7438