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Analyst Meeting

Presentation Material

Analyst Meeting

Presentation Material

May 28, 2010

Chuo Mitsui Trust Group

1

Agenda

Ⅰ.Status of Profit Financial Summary P3 Factors for Increase/Decrease in Net Profit P4 Factors for Increase/Decrease in Gross P5 Operating Profit Recomposition of Revenue Structure P6 Expenses P7 Ⅱ.Business Strategy Management Direction for FY3/11 P9 Outlook for FY3/11 P10 Gross Operating Profit by Business Unit P11 Ⅲ.Priority Businesses Investment Trust & Annuity Insurance P13 related Business Real Estate Business P14 Loan to Individuals P15 Ⅳ.Condition of Assets Loan Portfolio P17 NPL/Credit Cost P18 Securities P19 Ⅴ.Status of Capital Capital/Public Funds P21 （References）Other business Areas Pension/Stock Transfer Agency P23 Real Estate Asset Finance P24 Alternative Investments P25 Loan Portfolio and Trend of Yields P26

2

Ⅰ.Status of Profit

・Financial Summary ・Factors for Increase/Decrease in Net Profit

・Factors for Increase/Decrease in Gross Operating Profit

・Recomposition of Revenue Structure ・Expenses

3 *1 Before trust a/c credit costs *2 Effective net operating profit before trust a/c credit costs & provision (reversal) of general reserve

Financial Summary

FY3/10 Highlights

a b c:b-a (Yen bn)

Actual

CMTB+CMAB, non-consolidated FY3/09 FY3/10 Change % Gross operating profit *1

228.7 226.9 (1.8) (1)%

Operating expenses （m inus）

115.9 117.9 2.0 2%

[Net periodic retirement benefit cost] （m inus）

[(0.4)] [4.3] [4.8]

Pre-provision profit *2

112.8 108.9 (3.8) (3)%

Net other profit (loss) and others

(226.6) (23.9) 202.7

[Losses on devaluation of stocks]

[(69.7)] [(1.7)] [67.9]

[Losses on sales of Japanese stock related investm ents]

[(113.3)] [(0.6)] [112.7]

Ordinary profit

(113.8) 85.0 198.8

Extraordinary profit

7.7 2.6 (5.1)

Current and Deferred income taxes （m inus）

(26.0) 30.0 56.1

Net incom e

(79.9) 57.6 137.6

Credit Costs （m inus）

21.2 7.5 (13.6)

CMTH, consolidated FY3/09 FY3/10 Change Ordinary profit

(116.9) 83.4 200.3

Net incom e

(92.0) 46.8 138.8

Dividends per share: Common stocks

5.00yen 8.00yen 3.00yen

4

Factors for Increase/Decrease in Net Profit

Factors for Increase/Decrease in Net Profit （CMTB+CMAB non-consolidated）

Result of FY3/10 Net income increased substantially, mainly due to decrease of credit costs, devaluation losses for stock holding, and losses by sales of Japanese stock related investments posted in FY3/09

Increase factor Decrease factor (1.8) (2.0) FY3/09 FY3/10

57.6 (79.9)

13.6 185.7 (58.0) (Yen bn) 137.6

Gross

• perating

profit Operating expenses (Net periodic retirement benefit cost (4.8)) Credit costs Net stock related profit Others (Current and Deferred income taxes)

5

Factors for Increase/Decrease in Gross Operating Profit

Factors for Increase/Decrease in Gross Operating Profit（CMTB+CMAB, non-consolidated）

Result of FY3/10 Gross operating profit was maintained at the same level as FY3/09 by steady increase in market related profit and loan to individuals, although profit from selling of investment trusts and annuity insurances, real estate related business decreased YoY.

Conventional Banking Businesses Strategic Businesses Increase factor

Priority Segm ents

Decrease factor (0.2) FY3/09 FY3/10 1.4

228.7 226.9

1.2 (2.9) 2.8 (4.1) (1.8) （Yen bn） Corporate loans, etc. Bond investments, etc. Loans to individuals Investment trust & Annuity insurance Real estate Others

6 Sum of loans to individuals, investment trust & annuity insurance, and real estate

• Loan to Individuals

○Real estate asset finance ○Alternative investments ○Other banking related businesses

• Investment trust & Annuity

insurances

• Real estate

○Pension ○Stock transfer agency ○Other asset management businesses 5% 1% 5% 5% 6% 5% 9% 10% 11% 10% 12% 6% 4% 17% 13% 12% 5% 11% 15% 20% 21% 40% 19% 23% 16% 19% 20% 2% 1% 3% 2% 1% 2% 2% 4% △1% 2% 2% 4% 5% 13% 18% FY3/03 FY3/08 FY3/09 FY3/10

Recomposition of Revenue Structure

Strategic Businesses Conventional Banking Businesses

Breakdown of gross operating profit by business segment (CMTB+CMAB, non-consolidated)

Recomposition of Revenue Structure

１６％ ３９％ 37% ３７％

○Corporate loans, etc. ○Bond Investments, etc

４４％ 63% 61% 71%

Banking related Businesses Banking related Businesses Asset Management Businesses

7

51.8 52.5 51.5

56.6 5.5 4.6 5.3 118.5 116.4 113.5 61.1 59.2

40 80 120 FY3/08 FY3/09 FY3/10

Tax Non-Personnel Personnel [Excluding retirement benefit cost]

(Yen bn)

Expenses

OHR

Trend of Operating Expenses (CMTB+CMAB, non-consolidated) Trend of OHR (CMTB+CMAB, non-consolidated)

Operating Expenses

*Operating expenses (excluding net retirement benefit cost)/ gross operating profit

Expenses

Operating expense excluding net retirement benefit cost decreased as a result of restraining operation OHR keeps the same level

44.7% 50.8% 50.0% 0.0% 20.0% 40.0% 60.0% FY3/08 FY3/09 FY3/10 (%)

8

Ⅱ.Business Strategy

・Management Direction for FY3/11 ・Outlook for FY3/11 ・Gross Operating Profit by Business Unit

9

Management Direction for FY3/11

Management Direction

FY3/11 as approaching year for management integration with Sumitomo Trust Group Enhancing the profitability by continuing current management direction

➢Investment trust and annuity insurance ➢Real Estate ➢Loan to Individuals ➢Restraining cost operation ➢Maintain the soundness of loan portfolio ➢Reduction of equity holdings at early stage Promoting the business model with high profitability and financial soundness 1.Increase in Gross Operating Profit by recomposition of revenue structure

• 2. Strengthen the low cost operation
• 3. Maintain and promoting the soundness of

asset quality

Keep focusing as priority businesses

Consolidated base

〔Pre-provision profit and credit costs to Total Assets〕 （3 years average）

Pre-provision profit ÷Total Assets Credit Costs ÷Total Assets

CMTH

Megabank A Megabank B Megabank C Trust bank D

0.90% 0.11% 0.40% 1.02% 0.18% 0.18% 0.69% 0.27% 0.73% 0.42%

10

Outlook for FY3/11

Outlook for FY3/11 Increasing in gross operating profit by focusing on 3 priority businesses Increasing in gross operating profit by focusing on 3 priority businesses Expecting the decrease of operation expenses by decreasing net periodic retirement benefit cost Expecting the decrease of operation expenses by decreasing net periodic retirement benefit cost Maintain the soundness of loan portfolio to keep the credit cost at a low level Maintain the soundness of loan portfolio to keep the credit cost at a low level Risks for additional loss are reduced by posting devaluation losses for stock holding and losses on sales of Japanese stock related investments in FY3/09. Promoting the reduction of equity holdings for further reduction of risks. Risks for additional loss are reduced by posting devaluation losses for stock holding and losses on sales of Japanese stock related investments in FY3/09. Promoting the reduction of equity holdings for further reduction of risks. Management Direction

*1 Before trust a/c credit costs *2 Effective net operating profit before trust a/c credit costs & provision (reversal) of general reserve

(Yen bn) CMTB+CMAB Actual Outlook non-consolidated FY3/10 FY3/11 Change Gross operating profit *1

226.9 230.0 3.0

Operating expenses （minus）

117.9 115.0 (2.9)

[Net periodic retirement benefit cost]（minus）

[4.3] [(1.0)] [(5.3)]

Pre-provision profit *2

108.9 115.0 6.0

Net other profit (loss) and others

(23.9) (25.0) (1.0)

[Losses on devaluation of stocks]

[(1.7)] [-] [1.7]

[Losses on sales of Japanese stock related investments]

[(0.6)] [-] [0.6]

Ordinary Profit

85.0 90.0 4.9

Extraordinary profit

2.6

• (2.6)

Current and Deferred income taxes （minus）

30.0 30.0 (0.0)

Net income

57.6 60.0 2.3

Credit costs （minus）

7.5 10.0 2.4

CMTH, consolidated FY3/10 FY3/11 Change Ordinary profit

83.4 90.0 6.5

Net income

46.8 50.0 3.1

Dividends per share: Common stocks

8.00yen 8.00yen

11

Gross Operating Profit by Business Unit

Gross Operating Profit by Business Unit

a b c:b-a d e:d-b （Yen bn） CMTB+CMAB Actual Outlook non-consolidated FY3/09 FY3/10 Change % FY3/11 Change % Asset Management Businesses

85.4 72.7 (12.7) (15)% 85.0 12.2 17%

Investment trust & Annuity insurance

29.9 26.9 (2.9) (10)% 30.0 3.0 11%

Real estate

13.9 9.8 (4.1) (30)% 18.0 8.1 84%

Pension

24.4 22.7 (1.7) (7)% 23.0 0.2 1%

Stock transfer agency

14.0 11.7 (2.3) (17)% 12.0 0.2 2%

Banking related Businesses

143.2 154.1 10.9 8% 145.0 (9.1) (6)%

Conventional banking businesses

85.7 90.0 4.2 5% 83.0 (7.0) (8)%

[Corporate loans, etc.]

[44.4] [45.9] [1.4] [3%] [41.0] [(4.9)] [(11)%]

[Bond investments, etc.]

[41.3] [44.1] [2.8] [7%] [42.0] [(2.1)] [(5)%]

Loans to individuals

45.3 46.5 1.2 3% 44.0 (2.5) (6)%

Real estate asset finance

10.9 11.3 0.3 3% 12.0 0.6 6%

Alternative investments

(2.4) 4.1 6.5

• 4.0

(0.1) (3)%

[Investment return]

[5.3] [2.2] [(3.0)] [(58)%] [4.0] [1.7] [81%]

[CDO unrealized gains/losses]

[(7.7)] [1.9] [9.6]

• [0.0]

[(1.9)] [(100)%]

Other banking related businesses

3.5 2.1 (1.3) (39)% 2.0 (0.1) (6)%

Gross operating profit

228.7 226.9 (1.8) (1)% 230.0 3.0 1%

12

Ⅲ.Priority Businesses

・Investment Trust & Annuity Insurance related Business ・Real Estate Business ・Loan to Individuals

13

Specific Measures

■Enhancement of the product line-up ➢Introducing the new products to meet the clients’ needs accurately ■Enhancement of the consulting capability ➢Enhancing the consulting capability by introducing new information technology system (“Palette”) ■Broaden the customer base ➢Enhancing the sales channel by expanding the number of in-store mini branch (Consulplaza) ■Enhancement of the customer protection management to improve customer satisfaction ➢Utilizing the third party’s market research

Investment Trust & Annuity Insurance related Business

Breakdown of Investment Trust & Annuity Insurance related Revenue

Flow-based fees decreased as a result of lower sales fee ratio of annuity insurance, stock-based fees underpinned the total revenue to a certain degree

* Total of Annuity insurance sales fee, investment trust sales fees and trust fee & investment advisory fee for investment trust

Situation is on recovery trend, although profit in FY3/10 decreased due to the lower sales fee ratio on annuity insurance. Strategy for FY3/11

Trend of individual asset from savings to investment has not been

• changed. Enhancing the sales mainly at investment trust to increase the

profit

Breakdown of Investment trust & Annuity insurance related revenues* by “flow- based” and “stock-based” fees

Trend of Investment Trust & Annuity Insurance related Revenue Sales Amount of Investment Trust & Annuity Insurance

（Yen bn） 127.7 64.0 106.0 199.0 108.3 69.1 83.2 56.7 133.1 236.0 189.2 255.8

0.0 200.0 400.0 1H.FY3/09 2H.FY3/09 1H.FY3/10 2H.FY3/10 Investment trust sales amount Annuity insurance sales amount （Yen bn） a b c:b-a d (Yen bn) CMTB+CMAB, non-consolidated Actual Outlook e:d-b Sales Fee FY3/09 FY3/10 Chg. FY3/11 Chg. Investment trust sales fee 10.5 12.3 1.7 15.0 2.6 Annuity insurance sales fee 11.1 7.0 (4.1) 7.0 0.0 Total 21.7 19.3 (2.3) 22.0 2.6 Trustee Fee & Investment Advisory Fee for Investment Trust Trustee fee 4.9 4.6 (0.2) 5.5 0.8 Investment advisory fee 3.2 2.9 (0.3) 2.5 (0.4) Total 8.1 7.5 (0.5) 8.0 0.4 Grand total 29.9 26.9 (2.9) 30.0 3.0 FY3/09 FY3/10 FY3/11 (Outlook) 16.5 13.5 30.0 15.3 11.6 26.9 16.6 13.2 29.9 Flow Stock

4.7 3.4 3.7 3.8 7.0 4.1 4.2 7.1 4.0 6.5 5.1 2.8 13.1 13.8 11.6 18.3

0.0 5.0 10.0 15.0 20.0 25.0 30.0 1H.FY3/09 2H.FY3/09 1H.FY3/10 2H.FY3/10

（Yen bn）

Annuity insurance sales fee Investment trust sales fee Investment trust related fee(trustee fee & investment advisory fee)

14

Real Estate Business

Balance of Securitized Real Estate Trend of Brokerage Fees, Number of Contracts Breakdown of Real Estate related Revenue

108.4 52.1 3.6 82.6 231.2 (60.5) (123.0) (16.8) (26.2) (9.1) 108.2 56.4 35.3 47.9 (5.5) (150.0) (100.0) (50.0) 0.0 50.0 100.0 150.0 200.0 250.0 2009/1Q 2009/2Q 2009/3Q 2009/4Q 2010/1Q (YEN bn)

Acquisitions Sales Net acquisitions

＜Trend of Investment by J-REIT＞

Source：The Association For Real Estate Securitization

Strategy for FY3/11 and Specific Measures 28% 20% 25% 27%

Existing customer Non-existing customer developer/builder Investor

＜Analysis of Brokerage Fees by Segment＞

Enhancing the function to connect the demand between the sellers and the buyers, and steady brokering for blue-chip transactions ➢ Searching for the needs of corporate clients by enhancing the connection with the relationship management section. ➢ Fulfill the brokerage and the consulting function with the investors including REIT.

➢Number of the brokerage and the fee shows the trend of recovery in line with the market ➢Investment trend by J-REIT shows the signal of market recovery from 2H FY09 Estimate the increase of profit by pursuing both brokering and trust fee from the investors

Fee income decreased YoY due to the downturn of transaction numbers, but market trend is recovering

(FY3/10)

5,360.0 5,057.8 5,180.5 5,141.1

2,000 4,000 6,000 3/08 3/09 3/10 3/11 (Plan) (Yen bn) a b c :b -a d (Y e n b n ) C M T B , A c tu a l O u tlo o k e :d -b n o n -c o n s o lid a te d F Y 3 /0 9 F Y 3 /1 0 C h g . F Y 3 /1 1 C h g . R e a l e s ta te b ro k e ra g e fe e

9 .7 6 .3 (3 .3 ) 1 4 .0 7 .6

R e a l e s ta te tru s t fe e

4 .2 3 .4 (0 .7 ) 4 .0 0 .5

T o ta l

1 3 .9 9 .8 (4 .1 ) 1 8 .0 8 .1

8.0 2.6 1.6 3.7 64 72 108 95 0.0 2.0 4.0 6.0 8.0 10.0

1H.FY3/09 2H.FY3/09 1H.FY3/10 2H.FY3/10

(Yen bn)

50 100 150

(Number of contract)

Real estate brokerage fee Number of brokerage contracts

15 738.8 518.7 683.1 390.0 250 500 750 1,000

FY3/08 FY3/09 FY3/10 FY3/11 （plan）

（Yen bn）

Loans to Individuals

Balance of Loans to Individuals

After securitization

Balance of housing loan increased steadily, but interest competition among banks heated up

Strategy for FY3/11

Accumulating the balance of housing loan by flexible and agile rate setting 91% 1% 8%

FY3/10, Number of new loans originated Over the counter, etc. Client company channels

Origination of Housing Loan by Channel “Route sales (Major home builders, real estate agents and developers channel)” strategy successfully differentiates CMTB from competitors Specific Measures ➣Agile and flexible interest rate setting based on the customer profile and profitability with each route sales channel Origination of Housing Loan

Route sales channel

398.2 362.0 323.6 2,930.1 3,362.3 3,654.9 2,531.9 3,000.2 3,331.2 1,000 2,000 3,000

3/08 3/09 3/10 （Yen bn）

Housing loans Sole proprietorships, etc +18% +11%

16

Ⅳ.Condition of Assets

・Loan Portfolio ・NPL/Credit Cost ・Securities

17

37% 57% 6% 37% 6% 25% 28% 2% 2%

0% 20% 40% 60% 80% 100%

中央三井

CMTB

27% 42% 21% 3% 7%

国内銀行

Loan Portfolio

Loans by Industry*2（As of 3/10） Loans by Size of Borrowers (As of 3/10)

SMEs *1. Rate of pay-out on guarantees by Chuo Mitsui Guarantee in FY3/10(based on number of pay-outs) *2. Managerial accounting-basis, CMTB non-consolidated. Balance at period end, post-securitization *3. Source: Bank of Japan Consumer finance： 1％ We have curtailed our exposure to consumer finance companies, which include sales finance companies and credit card

• companies. Ratio of loans to

consumer finance companies to total loans : 0.1%

Real Estate Companies： 8％ Ratio of loans to large companies and their group companies to total loans: 3.7% Real Estate Asset Finance

• LTV70% and below: 88%
• DSCR2.0×and above: 85%

Housing loan and others

• Loss rate on housing

loans*1: 0.08%

Ratio of Housing Loans to Total Loans*4 (Comparison of Major Banks) (As of 3/10)

Companies

Mid-sized companies Large Companies Others Loan to individuals

*4.Source: Company disclosures As of 3/10, non-consolidated, post-securitization

Construction : 1％

Maintaining the high quality loan portfolio mainly with housing loan of low loss ratio

36% 15% 22% 16% 26% 0% 10% 20% 30% 40% 中央三井 A Ｂ Ｃ Ｄ

Domestic Bank Total CMTB

*2 *3

18

121.5 43.9 29.7 21.2 7.5 10.0 0.1% level 0.08% 0.22% 0.35% 0.49% 1.22% 50 100 150 200 FY3/03 FY3/05 FY3/07 FY3/09 FY3/10 FY3/11

• 0.50%

0.00% 0.50% 1.00% 1.50%

Credit Costs Credit Cost Ratio 292 165 62 122 97 411 95 83 17 21 1% level 7.0% 2.8% 1.7% 1.4% 1.2% 250 500 750 3/03 3/05 3/07 3/09 3/10 3/11 (Yen bn）

• 2%

0% 2% 4% 6% Claims under Close Observation Claims under High Risk & (virtual)Bankruptcy NPL ratio

NPL/Credit Costs

Balance of NPL / NPL Ratio

（CMTB, non-consolidated, Banking a/c + Trust a/c）

Balance of NPL decreased steadily

NPL ratio and credit costs remain stable at a low level brought by high quality loan portfolio

Credit Costs / Credit Cost Ratio to Loans and Guarantees

（CMTB, non-consolidated）

（Outlook）

702.3 260.1 144.3 139.1 118.2

(Yen bn)

（Outlook） * Credit Cost / Total loans and guarantees * As of

19

Securities

Unrealized losses turned to unrealized gains due to stock market recovery

Promoting the sales of the equity holdings to reduce to approximately 50% against the Tier1 capital Accumulating the profit by agile investment with well controlled volume of risks Equity Holdings Bond Investments

■Status of Equity Holdings 【CMTH, Consolidated】 (Yen bn) As of 9/09 As of 3/10 Change Equity Holdings（Acquisition Cost） 489.9 473.9 (15.9) Tier1 Capital 712.0 742.4 30.3 Equity Holdings/Tier1 Capital 69% 64% (5)%

【CMTH , consolidated】 （Yen bn） FY3/09 FY3/10 Change Acquisition Cost Unrealized Gains/Losses Acquisition Cost Unrealized Gains/Losses Acquisition Cost Unrealized Gains/Losses Available-for-sale securities 3,566.8 (96.2) 3,592.2 47.0 25.4 143.3 Japanese stocks 481.7 (32.1) 474.9 73.0 (6.8) 105.1 Japanese bonds 2,132.2 (18.4) 1,910.7 (3.6) (221.4) 14.7 Others 952.8 (45.7) 1,206.5 (22.3) 253.7 23.4 FY3/09 FY3/10 Change 【CMTB , non-consolidated】 Acquisition Cost Unrealized Gains/Losses Acquisition Cost Unrealized Gains/Losses Acquisition Cost Unrealized Gains/Losses Available-for-sale securities 3,400.8 (100.1) 3,428.2 29.2 27.4 129.3 Japanese stocks 419.6 (40.4) 414.3 51.4 (5.2) 91.9 Japanese bonds 2,043.2 (18.4) ※1 1,821.7 (3.6) (221.5) 14.7 ※1 Duration: 2.2years. BPV: JPY 0.34bn Others 937.8 (41.2) 1,192.0 (18.5) 254.2 22.6 FY3/09 FY3/10 Change （Breakdown of the "Others" of available-for-sale securities） Acquisition Cost Unrealized Gains/Losses Acquisition Cost Unrealized Gains/Losses Acquisition Cost Unrealized Gains/Losses Foreign government bonds 217.0 1.1 ※2･※3 557.2 (5.1) 340.1 (6.2) ※2 Duration: 3.9years. BPV: JPY 0.31bn US agency MBS 378.0 0.4 ※2･※4 260.3 (1.1) (117.7) (1.6) ※3 CMTB has no exposure to government bond of PIIGS Overseas Investment 210.3 (17.7) 228.0 (3.1) 17.6 14.5 ※4 Including GNMA of JPY 164.2bn Others ※5 132.2 (24.9) 146.4 (8.9) 14.2 15.9 ※5 RMBS,Credit linked note reference to domestic companies, etc

20

Ⅴ.Status of Capital

・Capital/Public Funds

21

(Yen bn) a b c:b-a CMTH, Consolidated 3/09 3/10 (Preliminary) Change Total Capital

891.8 1,038.6 146.8

Tier I

646.6 742.4 95.8

Tier Ⅱ

267.0 319.2 52.1

Risk Weighted Assets

7,397.0 7,526.0 129.0

Capital Adequacy Ratio

12.05% 13.80% 1.75%

Tier1 Ratio

8.74% 9.86% 1.12%

352.2 432.2 400.2 363.2 200.3 200.3 86.4 32.0 37.0 76.5 100 200 300 400

Retained earnings Public funds(Book value) Buyback Offering

Capital / Public Funds

Repayment of Public Funds

*Total retained earnings of CMTH+CMTB+CMAB subtracted by

amount required for accumulated earned reserve （Yen bn）

7/06 Offering 7/07 Offering 7/08 Offering + Buyback ＊

Through sales in the market or using other methods, we strive to repay the public funds as soon as possible, with attention to the direction of enhancing the regulatory capital, even though we maintain sufficient volume of retained earnings to repay the public funds. Repayment Policy of the Public Funds

：500,875,000 shares （share holding ratio：30.2％） ：1,658,426,267 shares ：400.00 yen per share

Status of the Public Funds

There is currently sufficient quality and quantity of capital, but keep paying attention to the direction of enhancing the regulatory capital in Basel Committee

Basic Direction for Fulfilling the Capital

Number of common stocks* held by RCC Number of total outstanding common stocks

• n and after August 1, 2009

Bookvalue of RCC’s common stocks *converted from preferred stocks on August 1, 2009 3/06 3/07 3/08 3/09 3/10 As of

Capital Adequacy Ratio （Chuo Mitsui Trust, Consolidated）

《Reference》 ［Tier１－Preferred Stocks－Preferred Securities－minority interest in subsidiaries］ ／Risk Weighted Assets

7.36%

［Tier１－Preferred Stocks－Preferred Securities －minority interest in subsidiaries－ Net Deferred Tax Assets］ ／Risk Weighted Assets

5.44%

22

（References）Other Businesses Areas

・Pension/Stock Transfer Agency ・Real Estate Asset Finance ・Alternative Investments ・Loan Portfolio and Trend of Yields

23 8,625.9 7,003.9 7,359.6 7,344.4 7,121.5 7,657.1 6,419.9 7,170.7 3,000 4,500 6,000 7,500 3/07 3/08 3/09 3/10

（Yen bn）

Book value basis Market value basis *1 Includes discretionary assets

# of shareholders under administration (as of 3/10) # of listed corporate clients (as of 3/10)

CMTH 25.2% CMTH 23.8%

Pension Business Stock Transfer Agency Business

Balance of Entrusted Pension Assets*1

*2 CMTB+Tokyo Securities Transfer Agent

Industry Share*2

Breakdown of Stock Transfer Agency Business related Revenue Breakdown of Pension Business related Revenue

～ ～

FY3/10 Revenue declined due to decrease of the entrusted funds (market value basis, average balance) FY3/11 :

Enhancing the profitability by providing various investment products including alternative investment to meet the highly diversified investment needs of the clients

FY3/10 Maintain the market share of 25%. Effect by dematerialization has passed. FY3/11 Promoting the low-cost operation by utilizing a JV set up with Mizuho Trust

a b c:b-a d (Yen bn) CMTB, Actual Outlook e:d-b non-consolidated FY3/09 FY3/10 Chg. FY3/11 Chg. Fees received

24.9 20.4 (4.4) 20.5 0.0

Fees paid (minus)

10.8 8.7 (2.0) 8.5 (0.2)

Total

14.0 11.7 (2.3) 12.0 0.2

a b c:b-a d (Yen bn) CMAB, Actual Outlook e:d-b non-consolidated FY3/09 FY3/10 Chg. FY3/11 Chg. Fees received

28.3 27.0 (1.3) 28.0 0.9

Fees paid (minus)

3.9 4.3 0.3 5.0 0.6

Total

24.4 22.7 (1.7) 23.0 0.2

24

Real Estate Asset Finance

Portfolio breakdown by LTV and DSCR（As of 3/10） LTV *1 below 70%：8 88 8% % DSCR＊2 over 2.0×：8 85 5% %

Stringent assessment for the collateralized properties by utilizing the capability of the real estate related business ⇒no final losses in the past

*2Excluding REIT type and development type

Balance of real estate asset finance and trend of yield

*1Excluding REIT type

（Breakdown by region） (As of 3/10） （Breakdown by type） （As of 3/10）

58% 20% 16% 6%

5 central areas in Tokyo All Tokyo areas excluding 5 central areas Other areas in metropolitan Other local areas

59% 12% 10% 19%

Fund investment type Securitization type Development type REIT type

877.6 848.1 768.9 689.0 0.49 0.62 1.14 1.44 0.0 250.0 500.0 750.0 1,000.0 9/08 3/09 9/09 3/10 （Yen bn） 0.00 0.40 0.80 1.20 1.60 (%) Balance Weighted average spread

9% 28% 12% 51%

Office Residential Commercial Others (Logistics,etc.)

（Break down by purpose） (As of 3/10)

Strategy for FY3/11

Promoting positively subject to attractive return, with enhanced risk assessment

Specific Measures

Enhancing the approach to new blue chip transactions. Flexible approach to the refinancing of the existing transactions

subject to ensure the adequate profitablity

Profitability have improved although balance of the real estate asset finance decreased due to the selective perspective.

*weighted average spread of new transactions excluding up-front fee

25

(Yen bn) Actual Actual Plan FY3/09 FY3/10 FY3/11

a

Avg. balance

590.0 400.0 370.0 b

Return*1

10.0 4.3 6.0 b/a

Rate of return

1.6% 1.0% 1.6%

(Yen bn)

FY3/09 FY3/10 Outlook FY3/11 Buyout investment related

4.2 2.7 2.0

Securitized product investment related

3.5 2.8 2.5

Equity investment related

0.1 0.6 0.5

Hedge fund investment related

• Others

2.1 (1.8) 1.0

Total of investment return ①

10.0 4.3 6.0

CDO loss disposition ②

(7.7) 1.9 0.0

Grand total ①+②

2.3 6.2 6.0

Alternative Investment

Alternative Investment: Actual and Plan Return on Alternative Investment by Type *1

*1 Gross operating profit （before funding costs） *2 Mostly Chuo Mitsui Capital related *3 Credit derivative portion of CDO is bifurcated and unrealized gains/losses are posted as profit/loss each year.

FY3/11 As we recognized signs of investment environment bottomed out, investing into new transactions with attractive risk-return profile. Enhancing monitoring of the existing transactions FY3/10: Return from the alternative investment halved YoY due to the slow recovery in the M&A and the buyout market

*3 *2 (Yen bn)

《Details of Avarage balance》

FY3/09 FY3/10 Plan FY3/11 Buyout investment related

100.0 100.0 90.0

Securitized product investment related

220.0 190.0 180.0

Equity investment related

210.0 50.0 40.0

Hedge fund investment related

• Others

60.0 60.0 60.0

Total

590.0 400.0 370.0

26 25% 34% 38% 42% 71% 56% 52% 50% 4% 10% 10% 8%

0% 20% 40% 60% 80% 100%

FY3/03 FY3/08 FY3/09 FY3/10

Loan Portfolio and Trend of Yields

Recomposition

• f loan portfolio

*1 Rate of pay-out on guarantees by Chuo Mitsui Guarantee

Real estate asset-finance (excluding bond type) Loans to individuals Corporate loans

44％ 29％ 48％ 50％

Trend of Loan Portfolio （average balance） Trend of Yields ■Building a loan portfolio adopting appropriate risk control by stringent selection of deals ■Loans to individuals with good risk-return profile have increased steadily （Loss rate*1 of housing loan at FY3/10：0.08％）

0.0% 0.2% 0.4% 0.6% 0.8% 1.0% 1.2% 1.4% 1.6% 1.8% 2.0% FY3/08 FY3/09 FY3/10

Average yield on loans and bills discounted Loans to individuals Real estate asset finance Loans to corporate borrowers Average yield on deposits and principals Net interest margin 3M TIBOR (average)

27

This material contains certain forward-looking statements. These statements are not guarantees of future performance, and involve risks and uncertainties. Actual results may differ from these forward-looking statements contained in the present material, due to various factors, including, but not limited, to changes in

• verall economic conditions.