Consolidated Financial Results

Transcription

1 UFJ Holdings, Inc. November 25, 2003 For the Six Months Ended September 30, 2003 UFJ Holdings, Inc. today reported the company's consolidated financial results for the six months ended September 30, Total Revenue for the six months was 1,301 billion yen, compared with 1,222 billion yen for the corresponding six months in the previous fiscal year. Net Income for the six months was 179 billion yen, compared with 72 billion yen for the corresponding six months in the previous fiscal year. FINANCIAL HIGHLIGHTS Six months ended September 30, Millions of yen (Unaudited) (Unaudited) RESULTS Total Revenue 1,301,963 1,222,894 Income (Loss) before Income Taxes 194,526 51,019 Net Income (Loss) 179,848 72,556 BALANCE SHEETS Total Assets 82,288,045 82,348,925 Stockholders' Equity 2,230,457 2,328,120 PER SHARE Net Income 35, , Stockholders' Equity 142, , Notes: (1) Net Income per Share = Consolidated Financial Results Net Income - I nterim Dividends for Preferred Weighted Average Number of Shares of Common Stock * Interim Dividends for Preferred (2) Stockholders' Equity Stockholders' = Equity- Number of Shares of Preferred Stock Issue Price - Stock per Share Number of Shares of Common Stock *Outstanding as of the end of the six months* *Excluding treasury stocks and stocks held by subsidiaries (3) Equity in earnings of affiliates as of September 30, 2003 is 4,812 million yen. (4) For Net Income per Share and Stockholders' Equity per Share, the third decimal is omitted. (5) Amounts less than one million yen are omitted

2 (NOTES) Scope of Consolidation and Application of the Equity Method (1) Consolidated Companies (Consolidated Subsidiaries) 113 Companies UFJ Bank Limited UFJ Trust Bank Limited UFJ Tsubasa Securities Co., Ltd. The Senshu Bank, Ltd. UFJ Partners Asset Management Co., Ltd. UFJ International plc (2) Companies accounted for under the Equity Method (Companies accounted for under the equity method) The Chukyo Bank, Ltd. Central Leasing Co., Ltd. Dah Sing Financial Holdings Limited 28 Companies UFJ Holdings, Inc. The Consolidated Net Income and Dividend per Share for the fiscal year ending March 31, 2004 are forecasted as follows: Net Income (million yen) 210,000 Dividend per Share (yen) Common Stock 2,500 Class I Preferred Shares 37,500 Class II Preferred Shares 15,900 Class III Preferred Shares 68,750 Class IV Preferred Shares 18,600 Class V Preferred Shares 19,400 Class VI Preferred Shares 5,300 Class VII Preferred Shares 11,

3 CONSOLIDATED BALANCE SHEETS UFJ Holdings, Inc. As of September 30, As of March 31, Millions of yen (Unaudited) (Unaudited) Assets: Cash and Due from Banks 4,990,284 3,324,615 4,663,012 Call Loans 256, , ,082 Receivables under Resale Agreements 533,599 1,026, ,772 Collateral Deposits on Securities Borrowed 2,910,448 1,946,392 2,440,978 Monetary Receivables Bought 250, , ,380 Trading Assets 3,235,735 3,138,109 3,045,053 Money Held in Trust 39,269 53,783 35,928 Securities 21,541,286 20,995,033 18,132,858 Loans and Bills Discounted 41,627,199 43,812,244 44,178,615 Foreign Exchanges 562, , ,249 Other Assets 2,332,972 2,424,033 2,243,009 Premises and Equipment 704, , ,725 Deferred Tax Assets 1,478,340 1,573,284 1,522,606 Goodwill 12,305 18,458 15,382 Customers' Liabilities for Acceptances and Guarantees 3,234,700 3,222,813 3,092,455 Reserve for Credit Losses (1,420,508) (1,517,656) (1,674,377) Reserve for Losses on Securities (1,635) (2,174) (1,324) Total Assets 82,288,045 82,348,925 80,207,409 Liabilities, Minority Interests and Stockholders' Equity Liabilities: Deposits 51,310,219 50,057,576 51,149,640 Negotiable Certificates of Deposit 5,849,328 8,635,457 4,928,697 Call Money 5,275,588 3,356,662 5,183,204 Payables under Repurchase Agreements 1,218, ,052 1,422,205 Collateral Deposits on Securities Loaned 2,582,256 2,946,974 2,909,178 Commercial Paper 391, , ,775 Trading Liabilities 1,696,366 2,273,945 1,965,375 Borrowed Money 1,055,769 1,531,735 1,462,536 Foreign Exchanges 168,064 75,139 88,833 Corporate Bonds and Notes 2,527,917 2,628,291 2,276,313 Borrowed Money from Trust Account 1,348,332 1,167,598 1,250,246 Other Liabilities 2,409,753 1,822,736 1,288,432 Reserve for Employee Bonus 17,803 17,555 23,564 Reserve for Retirement Benefits 14,738 12,655 13,165 Reserve for Contingent Liabilities Related to Loans Sold 8,977 59,403 18,807 Reserve for Losses on Supports of Specific Borrowers 5, ,990 - Other Reserves Deferred Tax Liabilities 24, Deferred Tax Liabilities for Revaluation Reserve for Land 81,148 81,106 82,762 Acceptances and Guarantees 3,234,700 3,222,813 3,092,455 Total Liabilities 79,221,720 79,288,727 77,499,707 Minority Interests 835, , ,357 Stockholders' Equity: Capital Stocks 1,000,000 1,000,000 1,000,000 Capital Surplus 1,233,707 1,248,630 1,233,702 Ratined Earnings (184,200) 327,979 (359,380) Revaluation Reserve for Land, Net of Taxes 119, , ,792 Net Unrealized Profit (Loss) on Available-for-sale Securities, Net of Tax 117,624 (280,218) (65,722) Foreign Currency Translation Adjustments (54,591) (68,088) (64,132) Treasury Stock (1,561) (26,230) (1,913) Total Stockholders' Equity 2,230,457 2,328,120 1,864,344 Total Liabilities, Minority Interests and Stockholders' Equity 82,288,045 82,348,925 80,207,

4 UFJ Holdings, Inc. Notes: (1) Transactions for trading purposes are those seeking to capture gains arising from short-term market changes or from differences between markets for interest rates, currency exchange rates or securities. Such transactions are reported as "Trading Assets" and "Trading Liabilities" in the consolidated balance sheet as of September 30, 2003, on a trade date basis. Trading account securities and monetary receivables, etc. held for trading purposes are stated at market value at the end of the fiscal year. Trading-related financial derivatives such as swaps, futures and options are valued on the assumption that they were settled at the end of the fiscal year. (2) Held-to-maturity Debt Securities are carried at amortized cost, as determined by the moving average method (straight line method). "Investments in Non-consolidated Subsidiaries and Affiliates which are not accounted for under the equity method" are carried at the moving average cost. "Available-for-sale Securities" with market value are carried at market value (cost of securities sold is determined by the moving average method), and "Available-for-sale Securities" with no market value are carried at cost or amortized cost, as determined by the moving average method. Net unrealized profits or losses on available-for-sale securities are directly reflected in the stockholders' equity after considering the tax effect. (3) As regards the valuation of securities held in independently operated Money Held in Trust mainly for securities investment, securities are stated at market value. (4) Derivatives transactions, excluding those for trading purposes, are carried at fair value. (5) "Reserve for Credit Losses" of domestic consolidated banking subsidiaries is provided based on the results of the self-assessment, as follows in accordance with internal criteria regarding write-offs and providing reserves for possible credit losses : (a) The reserve for claims on debtors who are legally or substantially bankrupt is provided based on the remaining amount of the claims after the charge-off described below and the deductions of the amount expected to be collected through the disposal of collateral or the execution of guarantees. (b) The reserve for claims on debtors who are not currently legally bankrupt but are likely to become bankrupt is provided based on the amount necessary, given the overall solvency assessment of the debtors after deducting the amount expected to be collected through the the disposal of collateral or the execution of guarantees. (c) The reserve for claims on debtors with Restructured Loans and the certain amount of claims or more, or debtors with Doubtful Loans and the certain amount of claims or more, is provided by calculating the difference between the present value of expected future cash flows discounted by the loan s original contractual interest rate before restructuring and the carrying value of that claims. The reserve for claims on debtors other than the above is provided primarily based on the default rate, calculated by the actual defaults during a certain period in the past. (d) The specific reserve for loans to certain refinancing countries is provided based on the expected loss amount considering the political and economic situations of such countries. With respect to the claims with collateral or guarantees on debtors who are legally or substantially bankrupt, the remaining amount of the claims after deduction of the amount which is deemed collectible through the disposal of collateral or the execution of guarantees was charged-off against the respective claims for the six months ended September 30, The amount of the charge-off as of September 30, 2003 was 1,713,656 million yen. (6) "Reserve for Possible Losses on Securities" is provided for possible losses on securities and other investments based on the amount necessary, considering the financial conditions of the issuing companies and collateral and guarantees on the securities

5 UFJ Holdings, Inc. (7) "Reserve for Employee Bonuses" is provided for payment of bonuses to employees. Within the estimated amount payable to employees, the necessary amount corresponding to the six months ended September 30, 2003, is recorded. (8) "Reserve for Retirement Benefit" is provided for future pension and lump-sum severance indemnity payment to employees. The reserve is recorded based on the projected benefit obligation and the pension plan asset amount at the end of the six months ended September 30, The unrecognized net obligation at transition 162,817 million yen, the amount in consideration of exemption from payment of future benefit regarding the substituted portion, is amortized over 5 years. (9) "Reserve for Contingent Liabilities related to Loans Sold" is provided based on the estimated liabilities of possible losses for the loans sold, considering the fair value of collateral of loans sold to the Cooperative Credit Purchasing Company, Limited. (10) Domestic consolidated subsidiaries adopt a macro hedging methodology using derivatives to manage the overall interest rate risk arising from various financial assets and liabilities held, such as loans and deposits. This macro hedging methodology is a risk management method stipulated as a "Risk Adjusted Approach" in "Tentative Accounting and Auditing Treatment relating to Adoption of 'Accounting for Financial Instruments' for Banks" (Japanese Institute of Certified Public Accountants. Industry Audit Committee Report No.15). Accordingly hedging items are accounted for using the deferral method of hedge accounting. Hedge effectiveness is assessed by monitoring (i) whether the total market risk on derivatives instruments, used for hedging purposes, is within established risk limits as set out in the risk management policies and (ii) whether the interest rate risk from hedged items has been mitigated. Hedging against risks of forex fluctuations on foreign currency securities (other than bonds) is accounted for using the deferral and fair value method of hedge accounting. The deferral method for hedge accounting is also applied to certain assets or liabilities other than the abobe. Other hedging of the domestic consolidated subsidiaries adopt the deferral method for hedge accounting. (11) As of September 30, 2003 Loans to Bankrupt Companies and Other Delinquent Loans were 103,172 million yen and 1,554,749 million yen, respectively. Among these loans, the entrusted amount to the Resolution and Collection Corporation were 36,828 million yen, and this act of trust was recognized as the process of measures to remove loans from balance sheet. (12) As of September 30, 2003 Loans Past Due 3 Months or More, other than Loans to Bankrupt Companies and Other Delinquent Loans, were 83,878 million yen. (13) As of September 30, 2003 Restructured Loans were 2,071,241 million yen. (14) The net realized and unrealized profits and losses arising on hedging instruments are included in Other Liabilities as deferred hedge profits. The gross amounts of deferred hedge profits and losses are 298,241 million yen and 205,776 million yen, respectively. (15) Principal amount of indemnified trusts is 1,157,924 million yen in Jointly Operated Designated Money Trusts and 989,357 million yen in Loan Trusts

6 UFJ Holdings, Inc. (16) The following includes "Securities", trading account securities, negotiable due from banks and commercial paper in "Trading Assets", negotiable due from banks in "Cash and Due from Banks" and commodity funds in "Monetary Receivables Bought". Trading Securities Book value as of September 30, 2003 Valuation gain (loss) during the six months ended September 30, ,819,648 million yen (13,141) million yen Held-to maturity Debt Securities with Market Value As of September 30, 2003 Unrealized Gain(Loss) (Millions of Yen) Book value Market value Net Gain Loss Japanese National Government Bonds Japanese Local Government Bonds Japanese Corporate Bonds and Financial Deventures Others 44,061 44, Total 44,071 44, Available-for-sale Securities with Market Value As of September 30, 2003 Unrealized Gain(Loss) (Millions of Yen) Aggregate Cost Market value Net Gain Loss Japanese Equities 2,209,777 2,552, , , ,301 Japanese Bonds 14,378,935 14,252,671 (126,263) 27, ,471 Japanese National Government Bonds 13,852,228 13,717,658 (134,569) 18, ,025 Japanese Local Government Bonds 286, ,244 4,446 4, Japanese Corporate Bonds and Financial Debentures 239, ,768 3,858 4, Others 2,469,094 2,479,002 9,907 38,559 28,651 Total 19,057,807 19,284, , , ,424 Net Unrealized Profit on Available-for-sale Securities, Net of Taxes, as of September 30, 2003, is 117,624 million yen: Net Unrealized Loss on Available-for-sale Securities shown in the above table of 226,579 million yen, plus Deferred Tax Assets of 1,914 million yen, minus Deferred Tax Liabilities of 110,605 million yen, less Minority Interests equivalent of 1,730 million yen, plus Parent Company's interest of 1,466 million yen in Net Unrealized Profit/ Loss of Available-for-sale Securities held by affiliates accounted for under the equity method. As of September 30, 2003, revaluation losses on Available-for-sale Securities were 2,605 million yen. The principle for recognition of revaluation losses are as follows: 1. Market price of a share falls down by more than 50% of book value. 2. Market price of a share falls down by more than 30% and the issuing company of the share is categorized as Doubtful Borrower or below. 3. Market price of a share falls down by more than 40% and the issuing company of the share is categorized as Special mention Borrower including Sub-standard Borrower. (17) Avaliable-for-sale Securities sold during the six months ended September 30, 2003 Proceeds from Sales 22,468,122 million yen Realized Profit 224,130 million yen Realized Loss 94,697 million yen (18) Held-to-maturity Debt Securities and Available-for-sale Securities whose Market Value is not readily determinable As of September 30, 2003 (Millions of Yen) Book value Held-to-maturity Debt Securities Unlisted Japanese Bonds 44 Available-for-sale Securities Unlisted Japanese Bonds 1,517,947 Unlisted Japanese Equites other than Over-the-counter 568,701 Unlisted Foreign Securities 41,200 Negotiable Due from Banks 34,924 Beneficiary Securities Loaned in Trust 23,

7 UFJ Holdings, Inc. (19) Rredemption Schedule of Held-to-maturity Debt Securities and Available-for-sale securities with Maturity (Millions of Yen / Year) 1 or less over 1 to 5 over 5 to 10 over 10 Japanese Bonds 6,535,574 6,088,724 2,810, ,738 Japanese National Government Bonds 6,371,070 4,952,370 2,138, ,060 Japanese Local Government Bonds 17,805 32, ,101 5,265 Japanese Corporate Bonds and Financial Debentures 146,698 1,104, ,368 74,411 Others 522,517 1,337, , ,527 Total 7,058,092 7,426,027 3,112, ,265 (20) Money Held in Trust Money Held in Trust for Trading Purposes Book value as of September 30, ,269 million yen Valuation Gain (Loss) during the six months ended September 30, (21) Pursuant to overdraft agreements and commitments to provide loans, the Company may provide loans with customers up to certain limits. Among such limits, 22,507,240 million yen remains unused of which 21,226,010 million yen is based on contracts to be terminated within a year or revocable by consolidated banking subsidiaries' options

8 CONSOLIDATED STATEMENTS OF OPERATIONS UFJ Holdings, Inc. Six months ended September 30, Year ended March 31, 2003 Millions of yen (Unaudited) (Unaudited) Revenue: Interest Income 509, ,739 1,156,993 Interest on Loans and Discounts 392, , ,002 Interest on and Dividends from Securities 81, , ,289 Trust Fees 20,562 27,022 58,458 Fees and Commissions 213, , ,047 Trading Revenue 103,150 75, ,612 Other Operating Income 310, , ,561 Other Income 145, , ,985 Total Revenue 1,301,963 1,222,894 2,520,659 Expenses: Interest Expenses 100, , ,542 Interest on Deposits 36,258 64, ,591 Fees and Commissions 32,885 38,846 68,538 Trading Expenses Other Operating Expenses 180, , ,447 General and Administrative Expenses 383, , ,121 Other Expenses 409, ,413 1,692,518 Total Expenses 1,107,436 1,171,875 3,139,606 Income (Loss) before Income Taxes & Minority Interests 194,526 51,019 (618,946) Provision for Income Taxes 3,759 3,897 7,675 Deferred Income Taxes 1,430 (35,970) (37,903) Minority Interests in Net Income (Loss) 9,487 10,536 20,204 Net Income (Loss) 179,848 72,556 (608,923) - 8 -

9 UFJ Holdings, Inc. Notes: (1) Profits and losses on transactions for trading purposes are shown as "Trading Revenue" or "Trading Expenses" on the consolidated statements of operations on a trade date basis. In the case of securities and monetary receivables, etc. held for trading purposes, "Trading Revenue/Expenses" includes the interest received/paid during the six months ended September 30, 2003 and the increase/decrease of the valuation profits/losses at the end of the six months ended September 30, 2003 from those at the end of the six months ended September 30, In the case of trading-related financial derivatives, "Trading Revenue/Expenses" includes the interest received/paid during the six months ended September 30, 2003 and the increase/ decrease of the amounts of profits/losses based on the assumption that transactions were settled at the end of the six months ended September 30, 2003 from the six months ended September 30, (2) Other Expenses for the six months ended September 30, 2003 includes Transfer to General Reserve of 48,115 million yen,write-off of Loans of 180,973 million yen, Losses on Sales of Securities of 33,920 million yen. Also, Losses on Sales of Premises and Equipment of 12,185 million yen and Expenses for Amortization of Unrecognized Net Pension Obligation of 13,350 million yen, pursuant to a change in accounting policy, are included. (3) Other Income for the six months ended September 30, 2003 includes Gains on Establishment of Retirement Benefit Trusts of 40,887 million yen, Gains on Return of Tax and its interest from the Tokyo Metropolitan Government of 25,692 million yen and Collection of Written-off Claims of 16,557 million yen. (4) Amounts less than one million yen are omitted

10 CONSOLIDATED STATEMENTS OF CAPITAL SURPLUS AND RETAINED EARNINGS Six months ended Sep. 30, Year ended Mar. 31, 2003 Millions of yen (Unaudited) (Unaudited) (summary) Capital Surplus Balance, at Beginning of the Period 1,233,702 1,226,626 1,266,626 Additions Gain on Sales of Treasury Stocks Deductions - 17,995 32,924 Loss on Sales of Treasury Stocks - 17,995 32,924 Balance, at End of the Period 1,233,707 1,248,630 1,233,702 Retained Earnings Balance, at Beginning of the Period (359,380) 254, ,225 Additions 182,211 89,403 18,607 Net Income 179,848 72,556 - Reversal of Revaluation Reserve for Land 2,363 4,398 6,158 Merger of Consolidated Subsidiaries - 12,449 12,449 Deductions 7,031 15, ,214 Dividend Declared 7,028 15,641 23,282 Bonuses for Directors and Statutory Auditors Net Loss ,923 Balance, at End of the Period (184,200) 327,979 (359,380) Amounts less than one million yen are omitted. UFJ Holdings, Inc

11 UFJ Holdings, Inc. CONSOLIDATED STATEMENTS OF CASH FLOWS Six months ended Sep. 30, Year ended Mar. 31, 2003 Millions of yen (Unaudited) (Unaudited) Cash Flows from Operating Activities Income Before Income Taxes & Minority Interests 194,526 51,019 (618,946) Depreciation 11,409 14,601 28,005 Amortization of Goodwill 3, ,433 Equity in Earnings of Affiliates (3,971) 4, Net Increase (Decrease) in Reserve for Credit Losses (253,868) (162,585) (5,759) Net Increase (Decrease) in Reserve for Losses on Securities 310 1, Net Increase (Decrease) in Reserve for Contingent Liabilities Related to Loans Sold (9,830) 2,686 (37,909) Net Increase (Decrease) in Reserve for Possible Losses on Support of Specific Borrowers 5,700 (419,167) (579,157) Net Increase (Decrease) in Reserve for Employee Bonuses (5,746) (4,684) 1,277 Net Increase (Decrease) in Reserve for Retirement Benefit 118,270 27,677 21,968 Interest Income (509,352) (591,739) (1,156,993) Interest Expenses 100, , ,542 Net (Gain) Loss on Securities (120,069) 55, ,023 Net (Gain) Loss on Money Held in Trust Net (Gain) Loss on Foreign Currency Translation Adjustments 126,090 78,392 58,893 Net (Gain) Loss on Sales of Premises and Equipment 11,626 9,613 26,941 Net (Gain) Loss on Establishing Retirement Benefit Trust (40,887) (17,428) (17,428) Net (Increase) Decrease in Trading Assets (220,835) (364,319) (270,782) Net Increase (Decrease) in Trading Liabilities (269,008) 501, ,410 Net (Increase) Decrease in Loans and Bills Discounted 2,550,416 2,302,930 1,932,023 Net Increase (Decrease) in Deposits 160,579 (737,084) 354,979 Net Increase (Decrease) in Negotiable Certificates of Deposit 920,630 2,269,654 (1,437,104) Net Increase (Decrease) in Borrowed Money (Non-subordinated) (425,257) 98, ,072 Net (Increase) Decrease in Due from Banks Excluding Due from Central Bank (35,772) 475,896 1,113,153 Net (Increase) Decrease in Call Loans and Monetary Receivables Bought 180,891 (896,573) (54,643) Net (Increase) Decrease in Collateral Deposits on Securities Borrowed (469,470) (451,578) (646,167) Net Increase (Decrease) in Call Money and Other Fundings Related to Operating Activities (110,864) 39,027 2,539,721 Net Increase (Decrease) in Commercial Paper 47,698 (104,355) (250,487) Net Increase (Decrease) in Collateral Deposits on Securities Lent (326,922) 1,050, ,087 Net (Increase) Decrease in Foreign Exchange Assets 3,409 19,819 (15,244) Net Increase (Decrease) in Foreign Exchange Liabilities 79,230 (92,380) (78,685) Net Increase (Decrease) in Corporate Bonds Resulted from Issuance, Redemption and Repurchase 92, , ,343 Net Increase (Decrease) in Borrowed Money from Trust Account 98,086 (525,241) (442,593) Interest Received 550, ,067 1,238,860 Interest Paid (122,723) (190,213) (338,450) Others, Net 18,199 92,405 (228,204) Sub-total 2,348,878 3,553,207 3,269,818 Income Taxes Paid (4,287) (5,340) (7,832) Net Cash Provided by (Used in) Operating Activities 2,344,591 3,547,866 3,261,

12 CONSOLIDATED STATEMENTS OF CASH FLOWS UFJ Holdings, Inc. (CONTINUED) Six Months Ended September 30, Year ended March 31, 2003 Millions of yen (Unaudited) (Unaudited) Cash Flows from Investing Activities Purchases of Securities (31,179,521) (28,019,403) (50,778,318) Proceeds from Sales of Securities 21,954,756 16,724,737 36,361,278 Proceeds from Maturities of Securities 6,988,129 5,165,925 11,152,674 Increase in Money Held in Trust (48,930) (19,318) (70,846) Decrease in Money Held in Trust 45, , ,818 Expenditures for Premises and Equipment (13,772) (16,896) (25,215) Proceeds from Sales of Premises and Equipment 12,597 24,396 41,337 Expenditures for Purchases of Consolidated Subsidiaries - (13,559) (13,275) Proceeds from Sales of Consolidated Subsidiaries - 9,487 9,487 Others, Net (4) - - Net Cash Provided by (Used in) Investing Activities (2,241,165) (6,029,128) (3,138,059) Cash Flows from Financing Activities Proceeds from Issuance of Subordinated Debt 21, , ,500 Expenditures for Repayment of Subordinated Debt (2,000) (270,500) (465,500) Proceeds from Issuance of Subordinated Bonds 263,374 13,832 34,932 Redemption and Repurchase of Subordinated Bonds (72,277) (221,505) (719,937) Proceeds from Issuance of Capital Stocks to Minority Interests - 111, ,000 Dividends Paid (7,028) (15,641) (23,282) Dividends Paid to Minority Interests (14,520) (13,319) (26,667) Expenditures for Purchase of Treasury Stocks (121) (133) (256) Proceeds from Sales of Treasury Stocks 40 5,478 8,280 Net Cash Provided by (Used in) Financing Activities 189,067 (282,290) (797,931) Effect of Exchange Rate Changes on Cash and Cash Equivalents (1,008) (1,357) (1,425) Net Increase (Decrease) in Cash and Cash Equivalents 291,484 (2,764,909) (675,431) Cash and Cash Equivalents at Beginning of the Period 3,703,931 4,378,042 4,378,042 Increase in Cash and Cash Equivalents due to Change of Scope of Consolidated - 1,623 1,338 Increase in Cash and Cash Equivalents due to Merger of Consolidated Subsidiaries Decrease in Cash and Cash Equivalents due to Exclusion of Consolidated Subsidiaries - - (18) Cash and Cash Equivalents at End of the Period 3,995,415 1,614,756 3,703,931 Notes: (1) Amounts less than one million yen are omitted. (2) For the purpose of the consolidated statements of cash flows, "Cash and Cash Equivalents" is "Cash and Due from Banks" in the consolidated balance sheets

13 SEGMENT INFORMATION UFJ Holdings, Inc. 1.Segment Information by Type of Business Six Months ended Banking and Elimination and September 30, 2003 Trust Business Leases Others Total Corporate Assets Consolidated I Ordinary Income 994, , ,829 1,260,080 (41,865) 1,218,214 (1)Outside Customers 984, , ,230 1,218,214-1,218,214 (2)Internal-Business Transfer 9,678 7,587 24,598 41,865 (41,865) - Ordinary Expense 881, , ,424 1,125,275 (43,695) 1,081,901 Ordinary Profit (Loss) 113,175 3,903 17, ,483 1, ,313 Six Months ended Banking and Elimination and September 30, 2002 Trust Business Leases Others Total Corporate Assets Consolidated I Ordinary Income 958, , ,458 1,226,046 (59,492) 1,166,553 (1)Ordinary Income from Outside Customers 947, , ,786 1,166,553-1,166,553 (2)Internal Ordinary Income between Segments 10,583 8,236 40,671 59,492 (59,492) - Ordinary Expense 932, , ,350 1,183,012 (47,702) 1,135,310 Ordinary Profit (Loss) 25, ,107 43,033 (11,790) 31,243 Fiscal Year ended Banking and Elimination and March 31, 2003 Trust Business Leases Others Total Corporate Assets Consolidated I Ordinary Income 1,951, , ,090 2,503,540 (102,964) 2,400,575 (1)Outside Customers 1,932, , ,581 2,400,575-2,400,575 (2)Internal-Business Transfer 19,014 16,441 67, ,964 (102,964) - Ordinary Expense 2,636, , ,146 3,166,942 (96,974) 3,069,968 Ordinary Profit (Loss) (684,151) (5,194) 25,943 (663,402) (5,990) (669,392) Notes: (1) Ordinary Income represents "Total Revenues" less certain items such as "Gain on Sales of Premises and Equipment" and "Collection of Written off Claims." Ordinary Expenses represents "Total Expenses" less certain items such as "Loss on Sales of Premises and Equipment" and "Amortization of Net Transitional Obligation for Employee Retirement Benefits." (2) "Americas" includes the United States and Canada. "Europe" includes United Kingdom and Germany. "Asia/Oceania Excluding Japan includes Hong Kong, Singapore and Australia

14 SEGMENT INFORMATION 2.Segment Information by Location UFJ Holdings, Inc. Six Months ended Elimination and September 30, 2003 Japan The Americas Europe Asia/Oceania Total Corporate Assets Consolidated I Ordinary Income 1,150,886 76,387 52,848 41,220 1,321,343 (103,128) 1,218,214 (1)Outside Customers 1,106,936 41,358 34,450 35,468 1,218,214-1,218,214 (2)Internal-Business Transfer 43,950 35,028 18,398 5, ,128 (103,128) - Ordinary Expense 1,045,726 47,027 44,137 25,082 1,161,973 (80,072) 1,081,901 Ordinary Profit (Loss) 105,160 29,359 8,711 16, ,369 (23,056) 136,313 Six Months ended Elimination and September 30, 2002 Japan The Americas Europe Asia/Oceania Total Corporate Assets Consolidated I Ordinary Income 1,045,082 76,554 59,983 52,375 1,233,995 (67,441) 1,166,553 (1)Outside Customers 1,012,735 48,316 56,090 49,410 1,166,553-1,166,553 (2)Internal-Business Transfer 32,346 28,237 3,892 2,964 67,441 (67,441) - Ordinary Expense 1,069,607 48,058 48,895 26,650 1,193,210 (57,900) 1,135,310 Ordinary Profit (Loss) (24,525) 28,496 11,088 25,724 40,784 (9,541) 31,243 Fiscal Year ended Elimination and March 31, 2003 Japan The Americas Europe Asia/Oceania Total Corporate Assets Consolidated I Ordinary Income 2,161, , ,747 96,237 2,527,252 (126,676) 2,400,575 (1)Outside Customers 2,112,403 90, ,515 91,591 2,400,575-2,400,575 (2)Internal-Business Transfer 49,529 56,268 16,231 4, ,676 (126,676) - Ordinary Expense 2,966,547 85, ,989 39,812 3,193,819 (123,850) 3,069,968 Ordinary Profit (Loss) (804,615) 60,865 20,757 56,245 (666,567) (2,825) (669,392) Notes: (1) Ordinary Income represents "Total Revenues" less certain items such as "Gain on Sales of Premises and Equipment" and "Collection of Written off Claims." Ordinary Expenses represents "Total Expenses" less certain items such as "Loss on Sales of Premises and Equipment" and "Amortization of Net Transitional Obligation for Employee Retirement Benefits." (2) "Americas" includes the United States and Canada. "Europe" includes United Kingdom and Germany. "Asia/Oceania Excluding Japan includes Hong Kong, Singapore and Australia. 3. Ordinary Income from Overseas Operations Ordinary Income Consolidated Ratio of Ordinary Income from Overseas Ordinary from Overseas Operations Operations Income over Consolidated Ordinary Income Six months ended September 30, ,277 1,218, % Six months ended September 30, ,818 1,166, % Fiscal year ended March 31, ,172 2,400, % Notes: (1) Ordinary Income form Overseas Operation is shown, instead of Overseas Sales Amount for non-financial companies. (2) Ordinary Income from Overseas Operations primarily includes income from transactions of the domestic consolidated subusidiaries' overseas branches, and income from transactions of the overseas consolidated subsidiaries (excluding Internal Ordinary Income between consolidated entities). Segment Information by Location on Ordinary Income from Overseas Operations is not shown here since Ordinary Income from Overseas Operations is not classified by the domicile of obligators

15 UFJ Holdings, Inc. MARKET VALUE INFORMATION ON SECURITIES AND MONEY HELD IN TRUST (as of September 30, 2003) A. Securities The following includes Securities, "negotiable due from banks," contained in Cash and Due from Banks, and "commodity funds," contained in Monetary Receivables Bought. 1.Held-to-Maturity Bonds with Market Value As of September 30, 2003 Book Market Unrealized Gain(Loss) Type Value Value Net Gain Loss Japanese National Government Bonds Japanese Local Government Bonds Japanese Corporate Bonds and Financial Debentures Others 44,061 44, Total 44,071 44, Available-for-Sale Securities with Market Value As of September 30, 2003 Aggregate Market Unrealized Gain(Loss) Type Cost Value Net Gain Loss Japanese Equities 2,209,777 2,552, , , ,301 Japanese Bonds 14,378,935 14,252,671 (126,263) 27, ,471 Japanese NationalGovernment Bonds 13,852,228 13,717,658 (134,569) 18, ,025 Japanese Local Government Bonds 286, ,244 4,446 4, Japanese Corporate Bonds and Financial Debentures 239, ,768 3,858 4, Others 2,469,094 2,479,002 9,907 38,559 28,651 Total 19,057,807 19,284, , , ,424 3.Held-to-maturity Debt Securities and Available-for-sale Securities whose Market Value is not readily determinable As of September 30, 2003 Type Book Value Held-to-maturity Debt Securities Unlisted Bonds 44 Available-for-sale Securities Unlisted Bonds 1,517,947 Unlisted Stocks (excluding over-the-counter stocks) 568,701 Unlisted Foreign Securities 41,200 Negotiable due from Banks 34,924 Beneficiary Securities Loaned in Trust 23,947 B. Money Held in Trust 1. Held-to-Maturity Money Held in Trust There is no Money Held in Trust for Trading Purpose 2. Other than Held-to-Maturity Money Held in Trust and Investment Money Held in Trust There is no other than Held-to-Maturity Money Held in Trust and Investment Money Held in Trust C. Net Unrealized Profit (Loss) on Available-for-Sale Securities As of September 30, 2003 Type Book Value Net Unrealized Gains 226,579 Available-for-Sale Securities 226,579 Available-for-Sale Money Held in Trust - Deferred Tax Assets 1,914 Less: Deferred Tax Liabilities 110,605 Net Unrealized Gains (Losses), Net of Taxes 117,889 (before adjustment for minority interest) Less: Minority Interests 1,730 Parent Company's Interest in Net Unrealized Profit (Loss) of Available-for-Sale Securities Held by Affiliates Accounted 1,466 for under Equity Method Net Unrealized Gains (Loss) on Available-for-sale Securities, Net of Taxes 117,

16 MARKET VALUE INFORMATION ON SECURITIES AND MONEY HELD IN TRUST (as of September 30, 2002) A. Securities The following includes Securities, "negotiable due from banks," contained in Cash and Due from Banks, and "commodity funds," contained in Monetary Receivables Bought. 1. Held-to-Maturity Bonds with Market Value As of September 30, 2002 Book Market Unrealized Gain(Loss) Type Value Value Net Gain Loss Japanese National Government Bonds Japanese Local Government Bonds Japanese Corporate Bonds and Financial Debentures Others 23,271 23, Total 23,281 23, Available-for-Sale Securities with Market Value As of September 30, 2002 Aggregate Market Unrealized Gain(Loss) Type Cost Value Net Gain Loss Japanese Equities 3,895,504 3,530,547 (364,957) 222, ,336 Japanese Bonds 12,990,968 13,060,731 69,763 76,747 6,983 Japanese NationalGovernment Bonds 12,342,265 12,392,997 50,732 57,426 6,694 Japanese Local Government Bonds 424, ,047 12,475 12,482 6 Japanese Corporate Bonds and Financial Debentures 224, ,685 6,555 6, Others 3,090,321 3,091,632 1,310 52,732 51,421 Total 19,976,794 19,682,911 (293,883) 351, ,741 UFJ Holdings, Inc. 3. Held-to-maturity Debt Securities and Available-for-sale Securities whose Market Value is not readily determinable As of September 30, 2002 Type Book Value Held-to-maturity Debt Securities Unlisted Bonds 962 Available-for-sale Securities Unlisted Bonds 800,677 Unlisted Stocks (excluding over-the-counter stocks) 376,009 Beneficiary Securities Loaned in Trust 30,307 Negotiable Due from Banks 33,484 Unlisted Foreign Securities 27,361 B. Money Held in Trust 1.Held-to-Maturity Money Held in Trust There is no Money Held in Trust for Trading Purpose 2.Other than Held-to-Maturity Money Held in Trust and Investment Money Held in Trust There is no other than Held-to-Maturity Money Held in Trust and Investment Money Held in Trust C. Net Unrealized Profit (Loss) on Available-for-Sale Securities As of September 30, 2002 Type Book Value Net Unrealized Gains (293,883) Available-for-Sale Securities (293,883) Available-for-Sale Money Held in Trust - Deferred Tax Assets 14,282 Net Unrealized Gains (Losses), Net of Taxes (279,600) (before adjustment for minority interest) Less: Minority Interests 362 Parent Company's Interest in Net Unrealized Profit (Loss) of Available-for-Sale Securities Held by Affiliates Accounted (255) for under Equity Method Net Unrealized Gains (Loss) on Available-for-sale Securities, Net of Taxes (280,218)

17 MARKET VALUE INFORMATION ON SECURITIES AND MONEY HELD IN TRUST (as of March 31, 2003) A. Securities The following includes Securities, "negotiable due from banks," contained in Cash and Due from Banks, and "commodity funds," contained in Monetary Receivables Bought. 1.Held-to-Maturity Bonds with Market Value As of March 31, 2003 Book Market Unrealized Gain(Loss) Type Value Value Net Gain Loss Japanese National Government Bonds Japanese Local Government Bonds Japanese Corporate Bonds and Financial Debentures Others Total 37,462 37,482 38,556 38,576 1,094 1,094 1,192 1, Available-for-Sale Securities with Market Value As of March 31, 2003 Aggregate Market Unrealized Gain(Loss) Type Cost Value Net Gain Loss Japanese Equities 2,602,713 2,420,706 (182,006) 142, ,484 Japanese Bonds 10,848,239 11,001, , ,334 3,499 Japanese NationalGovernment Bonds 10,293,026 10,417, , ,195 3,462 Japanese Local Government Bonds 310, ,169 17,777 17,777 - Japanese Corporate Bonds and Financial Debentures 244, ,145 10,324 10, Others Total 3,060,694 16,511,647 3,067,424 16,489,206 6,729 (22,441) 51, ,983 44, ,424 UFJ Holdings, Inc. 3.Held-to-maturity Debt Securities and Available-for-sale Securities whose Market Value is not readily determinable As of March 31, 2003 Type Book Value Held-to-maturity Debt Securities Unlisted Bonds 44 Available-for-sale Securities Unlisted Bonds 1,064,014 Unlisted Stocks (excluding over-the-counter stocks) 430,801 Negotiable due from Banks 44,213 Beneficiary Securities Loaned in Trust 31,140 B. Money Held in Trust 1.Held-to-Maturity Money Held in Trust There is no Money Held in Trust for Trading Purpose 2.Other than Held-to-Maturity Money Held in Trust and Investment Money Held in Trust There is no other than Held-to-Maturity Money Held in Trust and Investment Money Held in Trust C. Net Unrealized Profit (Loss) on Available-for-Sale Securities As of March 31, 2003 Type Book Value Net Unrealized Gains (22,441) Available-for-Sale Securities (22,441) Available-for-Sale Money Held in Trust - Deferred Tax Assets 230 Less: Deferred Tax Liabilities 43,145 Net Unrealized Gains (Losses), Net of Taxes (before adjustment for minority interest) (65,356) Less: Minority Interests 966 Parent Company's Interest in Net Unrealized Profit (Loss) of Available-for-Sale Securities Held by Affiliates Accounted 600 for under Equity Method Net Unrealized Gains (Loss) on Available-for-sale Securities, Net of Taxes (65,722)

18 MARKET VALUE INFORMATION ON DERIVATIVES TRANSACTIONS (as of September 30, 2003) 1.Interest Rate Related Transactions As of September 30, 2003 Type Contractual ValueMarket Value Unrealized Gain( Loss) Exchange-traded Interest Rate Futures 54,038,254 4,127 4,127 Interest Rate Options 19,102, Over-the-Counter Forward Rate Agreement 824, Interest Rate Swaps 155,944, , ,673 Interest Rate Options Others 8,939,959 19,022 29,298 Total 233, ,629 Notes: The macro hedge transactions, which adopt mark-to-market accounting policy from this interim period, are included. The above Gain (Loss) is stated on the Consolidated Statements of Income. Derivatives transactions to which hedge accounting is applied are excluded. 2.Currency Related Transactions As of September 30, 2003 Type Contractual ValueMarket Value Unrealized Gain( Loss) Exchange-traded Currency Futures 5, Currency Options Over-the-Counter Currency Swaps 5,585,099 8,176 8,176 Foreign Exchange Forward Contracts 9,872,582 33,246 33,246 Currency Options 6,432,660 19,367 46,067 Total 60,798 87,498 Notes: (1) The above Gain (Loss) is stated on the Consolidated Statements of Income. Derivatives transactions, to which hedge accounting is applied are excluded. Foreign exchange forward contracts, currency options and some other transactions attached to foreign currency based receivables/payables, and reflected in the Consolidated Balance Sheets or eliminated in consolidation process are excluded from the above table. (2) From this interim period, foreign exchange forward contracts, currency options and some other transactions, which have been revalued based on the foreign exchange accounting standards, are included. Certain Currency Swaps have been excluded, since such Currency Swaps have been accounted for by using the accrual method of accounting based on "Tentative Auditing Treatment relating to Adoption of 'Revised Accounting for Foreign Currency Transaction' for Banks." (The Japanese Institute of Certified Public Accountants April 10, 1999) UFJ Holdings, Inc

19 3. Equity Related Transactions As of September 30, 2003 Type Contractual Value Market ValueUnrealized Gain( Loss) Exchange-traded Equity Index Futures 246, Equity Index Options 1,341,037 (6,171) (4,790) Equity Options 23,863 1,121 (747) Over-the-Counter Forward Securities Agreement 1,992 (14) (14) Equity Options 62,676 (4,060) 621 Equity Index Swaps 132,418 2,945 2,945 Others 66,417 (459) (459) Total (6,235) (2,041) Notes: The above Gain (Loss) is stated on the Consolidated Statements of Income. Derivatives Transactions to which hedge accounting is applied are excluded. 4. Bond Related Transactions As of September 30, 2003 Type Contractual Value Market ValueUnrealized Gain( Loss) Exchange-traded Bond Futures 2,913,903 (2,842) (2,842) Bond Futures Options 893,183 (585) (738) Over-the-Counter Bond Options 215,237 2,259 2,181 Total (1,167) (1,398) Notes: The above Gain (Loss) is stated on the Consolidated Statements of Income. Derivatives Transactions to which hedge accounting is applied are excluded. 5. Commodity Related Transactions As of September 30, 2003 Type Contractual Value Market ValueUnrealized Gain( Loss) Over-the-Counter Commodity Swaps (Fuel) 109,268 2,307 2,307 Commodity Options 6,405 (0) 140 Total 2,307 2,448 Notes: The above Gain (Loss) is stated on the Consolidated Statements of Income. Derivatives Transactions to which hedge accounting is applied are excluded. 6. Credit Derivatives Related Transactions As of September 30, 2003 Type Contractual Value Market ValueUnrealized Gain( Loss) Over-the-counter Credit Default Swaps 1,173,159 1,835 1,835 Credit Default Options 20,500 (29) (29) Total 1,806 1,806 Notes: The above Gain (Loss) is stated on the Consolidated Statements of Income. Derivatives Transactions to which hedge accounting is applied are excluded. UFJ Holdings, Inc. 7. Other Derivatives Transactions As of September 30, 2003 Type Contractual Value Market ValueUnrealized Gain( Loss) Over-the-counter Weather Options 202 (6) 41 Total (6) 41 Notes: The above Gain (Loss) is stated on the Consolidated Statements of Income. Derivatives Transactions to which hedge accounting is applied are excluded

20 MARKET VALUE INFORMATION ON DERIVATIVES TRANSACTIONS (as of September 30, 2002) 1. Interest Rate Related Transactions As of September 30, 2002 Type Contractual Value Market ValueUnrealized Gain( Loss) Exchange-traded Interest Rate Futures 41,401,102 (15,371) (15,371) Interest Rate Options 27,003,349 2, Over-the-Counter Forward Rate Agreement 4,935,137 (955) (955) Interest Rate Swaps 186,237,138 97,118 97,118 Interest Rate Options 222,965 2,155 1,758 Others 10,279,765 16,982 29,485 Total 102, ,710 Notes: (1) The above Gain (Loss) is stated on the Consolidated Statements of Income. Derivatives transactions to which hedge accounting is applied are excluded. 2. Currency Related Transactions As of September 30, 2002 Type Contractual Value Market ValueUnrealized Gain( Loss) Over-the-Counter Currency Swaps 6,097,443 (46,739) (46,739) Foreign Exchange Forward Contracts 451,073 (19) (19) Currency Options 893,158 (760) (830) Total (47,520) (47,590) Notes: (1) The above Gain (Loss) is stated on the Consolidated Statements of Income. Derivatives transactions, to which hedge accounting is applied, and transactions stated in the Note (2) below are excluded. (2) Certain Currency Swaps have been excluded from table 2. Above, since such Currency Swaps have been accounted for by using the accrual method of accounting based on "Tentative Auditing Treatment relating to Adoption of 'Revised Accounting for Foreign Currency Transaction' for Banks." (The Japanese Institute of Certified Public Accountants April 10, 1999) The Contractual Value etc. of such Currency Swaps accounted for on an accrual method is as follows: As of September 30, 2002 Type Contractual Value Market ValueUnrealized Gain( Loss) Currency Swaps 1,228,937 (19,120) (19,120) (3) Foreign exchange forward contracts, currency options and some other transactions are excluded from the above table, since they are revalued at the end of the fiscal yearand their profits and losses are reflected in the Consolidated Statements of Income of the Bank or they are attached to foreign currency based receivables/payables, which are reflected in Consolidated Balance Sheets or eliminated in consolidation process. Set forth below are contractual values of foreign exchange related transactions reflected in the Statements of Income by revaluation at the dates indicated. Type Over-the-Counter As of September 30, 2002 Book Value Foreign Exchange Forward Contracts 9,707,754 Currency Options 3,448,793 UFJ Holdings, Inc

21 3. Equity Related Transactions As of September 30, 2002 Type Contractual Value Market ValueUnrealized Gain( Loss) Exchange-traded Equity Index Futures 25, Equity Index Options 34,517 (2,533) 85 Equity Options 65,536 1, Over-the-Counter Forward Securities Agreement 1, Equity Options 34,882 (572) 4,530 Equity Index Swaps 24,278 1,418 1,418 Total 646 6,859 Notes: The above Gain (Loss) is stated on the Consolidated Statements of Income. Derivatives Transactions to which hedge accounting is applied are excluded. 4. Bond Related Transactions As of September 30, 2002 Type Contractual Value Market ValueUnrealized Gain( Loss) Exchange-traded Bond Futures 2,208, Bond Futures Options 163, Over-the-Counter Bond Options 329,374 (97) (60) Total Notes: The above Gain (Loss) is stated on the Consolidated Statements of Income. Derivatives Transactions to which hedge accounting is applied are excluded. 5. Commodity Related Transactions As of September 30, 2002 Type Contractual Value Market ValueUnrealized Gain( Loss) Over-the-Counter Commodity Swaps (Fuel) 939, Total Notes: The above Gain (Loss) is stated on the Consolidated Statements of Income. Derivatives Transactions to which hedge accounting is applied are excluded. 6. Credit Derivatives Related Transactions As of September 30, 2002 Type Contractual Value Market ValueUnrealized Gain( Loss) Over-the-counter Credit Default Swaps 574, Credit Default Options 10,000 (0) (0) Total Notes: The above Gain (Loss) is stated on the Consolidated Statements of Income. Derivatives Transactions to which hedge accounting is applied are excluded. UFJ Holdings, Inc. 7. Other Derivatives Transactions Type Contractual Value As of September 30, 2002 Market ValueUnrealized Gain( Loss) Over-the-counter Weather Options 712 (39) 96 Total (39) 96 Notes: The above Gain (Loss) is stated on the Consolidated Statements of Income. Derivatives Transactions to which hedge accounting is applied are excluded

22 MARKET VALUE INFORMATION ON DERIVATIVES TRANSACTIONS (as of March 31, 2003) 1. Interest Rate Related Transactions As of March 31, 2003 Type Contractual Value Market Value Unrealized Gain( Loss) Exchange-traded Interest Rate Futures Sold 21,896,723 (169,400) (169,400) Bought 22,199, , ,058 Interest Rate Options Sold 13,079,285 16,691 (10,000) Bought 12,013,648 19,974 12,786 Over-the-Counter Forward Rate Agreement Sold 1,738,979 2,805 2,805 Bought 1,592,441 (2,876) (2,876) Interest Rate Swaps Receipts Fixed /Payments Fixed 41,737 1,767 1,767 Receipts Fixed /Payments Floating 82,172,007 2,389,315 2,389,315 Receipts Floating /Payments Fixed 80,140,686 (2,432,797) (2,432,797) Receipts Floating /Payments Floating 10,117,785 (2,036) (2,036) Interest Rate Options Sold 51,229 1,675 (650) Bought 98,262 2, Others Sold 4,743,231 50,748 (17,520) Bought 4,547,852 74,383 52,813 UFJ Holdings, Inc. Total (9,482) 748 Notes: 1. Unrealized gain (loss) is included in the consolidated statement of operations. Derivatives transactions to which hedge accounting is applied are excluded. 2. Market values for listed products are primarily calculated using the closing prices of the Tokyo Stock Exchange and others at the balance sheet date. Market values for over-the counter transactions are based primarily on the option pricing calculation models. 2. Currency Related Transactions As of March 31, 2003 Type Contractual Value Market Value Unrealized Gain( Loss) Over-the-Counter Currency Swaps 5,828,183 (32,716) (32,716) Foreign Exchange Forward Contracts Sold 51,796 1,130 1,130 Bought 321,937 1,545 1,545 Currency Options Sold 212,835 2, Bought 238,489 2,539 (457) Total (29,793) (30,365) Notes: 1. Unrealized gain (loss) is stated on the Consolidated Statements of Income. Derivatives transactions, to which hedge accounting is applied, and transactions stated in the Note (2) below are excluded. 2. Certain Currency Swaps have been excluded from table 2. Above, since such Currency Swaps have been accounted for by using the accrual method of accounting based on "Tentative Auditing Treatment relating to Adoption of 'Revised Accounting for Foreign Currency Transaction' for Banks." (The Japanese Institute of Certified Public Accountants April 10, 1999) The Contractual Value etc. of such Currency Swaps accounted for on an accrual method is as follows: As of March 31, 2003 Type Contractual Value Market Value Unrealized Gain( Loss) Currency Swaps 1,641,231 2,425 2, Foreign exchange forward contracts, currency options and some other transactions are excluded from the above table, since they are revalued at the end of the fiscal yearand their profits and losses are reflected in the Consolidated Statements of Income of the Bank or they are attached to foreign currency based receivables/payables, which are reflected in Consolidated Balance Sheets or eliminated in consolidation process. Set forth below are contractual values of foreign exchange related transactions reflected in the Statements of Income by revaluation at the dates indicated. Type Exchange-traded Over-the-Counter As of March 31, 2003 Book Value Currency Futures Sold - Bought 2,374 Foreign Exchange Forward Contracts Sold 4,470,577 Bought 4,232,189 Currency Options Sold 2,489,827 Bought 2,676,

23 3.Equity Related Transactions As of March 31, 2003 Type Contractual Value Market Value Unrealized Gain( Loss) Exchange-traded Equity Index Futures Sold 44, Bought 5,975 (125) (125) Equity Index Options Sold 90,597 8,058 (2,964) Bought 12, (159) Equity Options Sold 3, Bought 37,723 3, Over-the-Counter Forward Securities Agreement Sold Bought 1,396 (40) (40) Equity Options Sold 20,728 1,618 2,815 Bought 7,135 2,565 2,438 Equity Index Swaps Fixed Interest Received / Dividends Equivalent Paid 1, Dividends Equivalent Received / Fixed Interest Paid 2,357 (11) (11) Receive or Pay Depending on Stock Price at Fixing Date 20,862 6,672 6,672 Total 4,067 10,006 Notes: 1. Unrealized gain (loss) is included in the consolidated statement of operations. Derivatives transactions to which hedge accounting is applied are excluded. 2. Market values for listed products are calculated using the closing prices of the Tokyo Stock Exchange and others at the balance sheet date. Market values for over-the counter transactions are based primarily on the option pricing calculation models. 4.Bond Related Transactions As of March 31, 2003 Type Contractual Value Market Value Unrealized Gain( Loss) Exchange-traded Bond Futures Sold 2,260,804 (44,243) (44,243) Bought 2,288,690 42,699 42,699 Bond Futures Options Sold 350, Bought 278, (129) Over-the-Counter Bond Options Sold 43, (234) Bought 33, (77) Total (1,809) (1,870) Notes: 1. Unrealized gain (loss) is included in the consolidated statement of operations. Derivatives transactions to which hedge accounting is applied are excluded. 2. Market values for listed products are calculated using the closing prices of the Tokyo Stock Exchange and others at the balance sheet date. Market values for over-the counter transactions are based primarily on the option pricing calculation models. 5.Commodity Related Transactions As of March 31, 2003 Type Contractual Value Market Value Unrealized Gain( Loss) Over-the-Counter Commodity Swaps (Fuel) 64,135 1,277 1,277 Commodity Options Sold Bought (18) Total 1,277 1,317 Notes: 1. Unrealized gain (loss) is included in the consolidated statement of operations. Derivatives transactions to which hedge accounting is applied are excluded. 2. Market values are calculated by using the quoted prices of the commodity, contractual term or other contractual elements. 6.Credit Derivatives Related Transactions As of March 31, 2003 Type Contractual Value Market Value Unrealized Gain( Loss) Over-the-counter Credit Default Swaps Sold 185,436 (85) (85) Bought 1,082,690 2,380 2,380 Credit Default Options Sold 80, (43) Bought 36, Total 2,315 2,255 Notes: 1. Unrealized gain (loss) is included in the consolidated statement of operations. Derivatives transactions to which hedge accounting is applied are excluded. 2. Market values are based primarily on the discounted present values. 3. "Sold" means the underwriting of credit risk and "Bought" means the transferring of creidt risk. 7.Other Derivatives Transactions As of March 31, 2003 Type Contractual Value Market Value Unrealized Gain( Loss) Over-the-counter Weather Options Sold Bought Total (13) 58 Notes: 1. Unrealized gain (loss) is included in the consolidated statement of operations. Derivatives transactions to which hedge accounting is applied are excluded. 2. Market values are based primarily on option pricing models. UFJ Holdings, Inc

24 UFJ Holdings, Inc. November 25, 2003 Non-Consolidated Financial Results of UFJ Holdings For the Six Months Ended September 30, 2003 UFJ Holdings, Inc. today announced that the board of directors of the Company approved and resolved at the board meeting held on November 25, 2003, the Company's non-consolidated financial results for the six months ended September 30, Operating Revenue for the fiscal year was 18,005 million yen, compared with 14,941 million yen for the corresponding six months in the previous fiscal year. Net Income for the six months was 15,648 million yen, compared with 11,401 million yen for the corresponding six months in the previous fiscal year. Net income per share was 3, yen, compared with yen for the corresponding six months in the previous fiscal year. FINANCIAL HIGHLIGHTS For the six months ended September 30, Millions of yen (Unaudited) (Unaudited) Results Operating Revenue 18,005 14,941 Income before Income Taxes 16,075 11,697 Net Income 15,648 11,401 Balance Sheet Total Assets 4,102,357 4,307,637 Stockholders' Equity 3,957,609 3,954,178 Per Share (yen) Net Income 3, Stockholders' Equity 484, ,

25 UFJ Holdings, Inc. Notes: As of September 30, As of March 31, (1) Number of Ordinary Stocks 5,041,210 4,967,350 5,034,444 Class I Preferred Shares 13,862 17,339 14,069 Class II Preferred Shares 200, , ,000 Class III Preferred Shares 33,487 48,755 33,487 Class IV Preferred Shares 150, , ,000 Class V Preferred Shares 150, , ,000 Class VI Preferred Shares 5,476 18,756 9,023 Class VII Preferred Shares 200, , ,000 (2) For the Six Months Ended For the Fiscal Year Ended March 31, (3) Weighted Average Number of Shares of Common Stock 5,036,641 4,871,115 4,943,505 Class I Preferred Shares 14,052 17,485 16,419 Class II Preferred Shares 200, , ,000 Class III Preferred Shares 33,487 48,974 41,502 Class IV Preferred Shares 150, , ,000 Class V Preferred Shares 150, , ,000 Class VI Preferred Shares 7,756 62,913 39,501 Class VII Preferred Shares 200, , ,000 (4) Net Income per Share = (5) For Net Income per Share and Stockholders' Equity per Share, the third decimal is omitted. (6) Amounts less than one million yen are omitted. The non-consolidated Net Income and Dividend per Share for the fiscal year ending March 31, 2004 are forecasted as follows: Net Income (million yen) 1-year 16,000 Dividend per Share (Yen) Common Stock 2,500 Class I Preferred Shares 37,500 Class II Preferred Shares 15,900 Class III Preferred Shares 68,750 Class IV Preferred Shares 18,600 Class V Preferred Shares 19,400 Class VI Preferred Shares 5,300 Class VII Preferred Shares 11,500 Net Income - Dividends for Preferred Stock Weighted Average Number of Shares of Common Stock excluding Treasury Stock Number of Shares Stockholders' Equity Stockholders' Equity - of Preferred Stock X Issue Price - Dividends for Preferred Stock per Share = Number of Shares of Common StockOutstanding as of the end of the fiscal year - 2 -

26 NON-CONSOLIDATED BALANCE SHEETS UFJ Holdings, Inc Millions of yen 2003 As of Sept. 30, 2002 As of March 31, 2003 (Unaudited) (Unaudited) Current Assets 3,688 2,660 3,039 Cash and Due from Banks Other 2,985 2,286 2,429 Non-current Assets 4,097,919 4,303,926 4,078,797 Tangible Fixed Assets Intangible Fixed Assets Investments and Other Assets: 4,097,361 4,303,639 4,078,530 Investments in Subsidiaries (Stock) 3,986,285 3,948,099 3,971,599 Investments in Subsidiaries (Bonds) 100, , ,000 Others 11, ,540 6,930 Deferred Charges 750 1, Total Assets 4,102,357 4,307,637 4,082,737 Liabilities and Stockholders' Equity Liabilities: Current Liabilities 11,295 2,428 11,941 Short-term Borrowings 10,700 2,200 11,600 Accrued Income Taxes Other Non-current Liabilities 133, , ,543 Bonds 100, , ,000 Long-term Borrowings 32,091 1,000 24,500 Reserve for Retirement Benefits Others 1, Total Liabilities 144, , ,484 Stockholders' Equity: Capital Stock 1,000,000 1,000,000 1,000,000 Capital Surplus 1,882,953 1,882,953 1,882,953 Other Capital Surplus 1,001,708 1,001,703 1,001,703 Retained Earnings 71,480 70,361 62,860 Net Unrealized Gain(Loss) on Available-for-sale Secirities, Net of Taxes 1,961 (555) (857) Treasury Stock (494) (284) (407) Total Stockholders' Equity 3,957,609 3,954,178 3,946,252 Total Liabilities and Stockholders' Equity 4,102,357 4,307,637 4,082,737 * Amounts less than one million yen are omitted

27 NON-CONSOLIDATED STATEMENTS OF OPERATIONS UFJ Holdings, Inc. Six Months ended Sept. 30, Year ended Mar. 31, 2003 Millions of yen (Unaudited) (Unaudited) Operating Revenues 18,005 14,941 18,286 Dividends on Investments in Subidiaries (Stocks) 15,593 11,136 11,136 Management Fees from Subsidiaries 2,202 2,446 4,475 Interest on Investments in Subsidiaries (Bonds) ,674 Interest on Loans to Subisidiaries Operating Expenses 1,441 3,086 5,860 General and Administrative Expenses 1,231 1,727 3,186 Interest on Bonds 209 1,358 2,674 Operating Income 16,564 11,855 12,426 Non-Operating Income Non-Operating Expenses Income before Income Taxes 16,075 11,697 11,948 Provision for Income Taxes Deferred Income Taxes Net Income 15,648 11,401 11,540 Retained Earnings at Beginning of the Period 55,831 58,960 58,960 Interim Cash Dividends - - 7,640 Unappropriated Profit at End of Fiscal Year 71,480 70,361 62,860 * Amounts less than one million yen are omitted

28 CONSOLIDATED BALANCE SHEETS As of September 30,As of March 31, Millions of yen (Unaudited) (Unaudited) Assets: Cash and Due from Banks 4,522,794 3,068,506 4,214,401 Call Loans 273, , ,403 Receivables under Resale Agreements 533,599 1,026, ,772 Collateral Deposits on Securities Borrowed 2,910,448 1,946,392 2,440,978 Monetary Receivables Bought 206, , ,182 Trading Assets 3,223,022 3,116,173 3,026,991 Money Held in Trust 39,269 53,783 35,928 Securities 19,617,479 18,796,473 16,422,472 Loans and Bills Discounted 38,602,682 40,821,522 41,217,253 Foreign Exchanges 562, , ,403 Other Assets 2,138,579 2,218,400 2,045,457 Premises and Equipment 596, , ,220 Deferred Tax Assets 1,255,959 1,333,244 1,300,091 Goodwill 12,305 18,458 15,382 Customers' Liabilities for Acceptances and Guarantees 3,006,783 2,960,878 2,849,942 Reserve for Credit Losses (1,287,356) (1,410,799) (1,528,665) Reserve for Losses on Securities (1,635) (2,174) (1,324) Total Assets 76,212,924 76,104,389 74,423,895 Liabilities, Minority Interests and Stockholders' Equity Liabilities: Deposits 48,097,643 46,948,601 47,867,273 Negotiable Certificates of Deposit 5,329,088 7,956,707 4,584,997 Call Money 5,060,588 2,955,601 4,680,203 Payables under Repurchase Agreements 1,218, ,052 1,422,205 Collateral Deposits on Securities Loaned 2,582,256 2,946,974 3,209,175 Commercial Paper 391, , ,775 Trading Liabilities 1,687,900 2,257,647 1,950,366 Borrowed Money 987,050 1,545,391 1,392,719 Foreign Exchanges 168,063 75,208 88,894 Bonds and Notes 2,469,417 2,434,391 2,231,913 Other Liabilities 2,365,108 1,765,079 1,238,813 Reserve for Employee Bonus 16,128 15,933 21,915 Reserve for Retirement Benefits 13,468 11,505 11,921 Reserve for Contingent Liabilities Related to Loans Sold 8,977 58,054 18,807 Reserve for Possible Loan Losses on Support of Specific Borrowers 5, ,990 - Other Reserves Deferred Tax Liabilities 24, Deferred Tax Liabilities Related to Revaluation Reserve for Land 73,481 73,395 75,045 Acceptances and Guarantees 3,006,783 2,960,878 2,849,942 Total Liabilities 73,507,101 73,404,445 71,988,484 Minority Interests 866, , ,443 Stockholders' Equity: Capital Stocks 843, , ,582 Capital Surplus 806, , ,556 Retained Earnings (22,772) 378,113 (215,016) Revaluation Reserve for Land, Net of Taxes 107, , ,722 Net Unrealized Profit (Loss) on Available-for-sale securities, Net of Tax 159,018 (169,375) 48,709 Foreign Currency Translation Adjustments (54,042) (67,459) (63,587) Total Stockholders' Equity 1,839,403 1,944,451 1,568,967 Total Liabilities, Minority Interests and Stockholders' Equity 76,212,924 76,104,389 74,423,895 UFJ Bank Limited - 1 -

29 UFJ Bank Limited Notes: (1) The amount of the charge-off as of September 30, 2003 was 1,632,262 million yen. (2) "Reserve for Retirement Benefit" is provided for future pension and lump-sum severance indemnity payment to employees. The reserve is recorded based on the projected benefit obligation and the pension plan asset amount at the end of the six months ended September 30, The unrecognized net obligation at transition (149,432 million yen) is amortized over 5 years, and the amortized amount is recorded for the six months ended September 30, (3) As of September 30, 2003, Loans to Bankrupt Companies and Other Delinquent Loans were 94,507 million yen and 1,513,869 million yen, respectively. As of September 30, 2003, Loans Past Due 3 Months or More, other than Loans to Bankrupt Companies and Other Delinquent Loans, were 82,866 million yen. As of September 30, 2003 Restructured Loans were 1,724,817 million yen. (4) The net realized and unrealized profits and losses arising on hedging instruments are included in Other Liabilities as deferred hedge profits. The gross amounts of deferred hedge profits and losses are 274,735 million yen and 184,843 million yen, respectively. (5) Pursuant to overdraft agreements and commitments to provide loans, the Bank may provide loans with customers up to certain limits. Among such limits, 21,726,942 million yen remains unused of which 20,451,712 million yen is based on contracts to be terminated within a year or revocable by the Bank. (6) Amounts less than one million yen are omitted

30 CONSOLIDATED STATEMENTS OF INCOME UFJ Bank Limited Six months ended September 30, Year ended March 31, 2002 Millions of yen (Unaudited) (Unaudited) Income: Interest Income 484, ,934 1,093,304 Interest on Loans and Discounts 372, , ,853 Interest on and Dividends from Securities 76,921 93, ,975 Fees and Commissions 181, , ,630 Trading Gains 102,213 75, ,029 Other Operating Income 295, , ,709 Other Income 125, , ,039 Total Income 1,189,114 1,100,802 2,255,713 Expenses: Interest Expenses 92, , ,394 Interest on Deposits 32,303 58, ,251 Fees and Commissions 29,717 38,580 61,270 Trading Expenses Other Operating Expenses 169, , ,326 General and Administrative Expenses 339, , ,785 Other Expenses 395, ,042 1,483,482 Total Expenses 1,026,644 1,036,681 2,784,697 Income (Loss) before Income Taxes 162,470 64,120 (528,984) Less:Provision for Income Taxes 2,984 2,813 6,351 Less:Deferred Income Taxes (727) (17,710) (27,473) Less:Minority Interests in Net Income 9,629 9,815 17,835 Net Income (Loss) 150,584 69,201 (525,697) - 3 -

31 UFJ Bank Limited Notes: (1) Other Expenses for the six monthes ended September 30, 2003 includes Transfer to General Reserve of 53,226 million yen, Write-off of Loans of 176,894 million yen, and Losses on Sales of Securities of 27,759 million yen. Also, Losses on Sales of Premises and Equipment of 10,011 million yen and Expenses for Amortization of Unrecognized Net Pension Obligation of 12,013 million yen, pursuant to a change in accounting policy, are included. (2) Other Income for the six months ended September 30, 2003 includes Collection of Written-off Claims of 16,092 million yen, Gains on Establishment of Retirement Beneift Trusts of 36,233 million yen, and Gains on Tax Refund and its Interest from the Tokyo Metropolitan Government of 21,482 million yen. (3) Amounts less than one million yen are omitted

32 CONSOLIDATED STATEMENTS OF CAPITAL SURPLUS AND RETAINED EARNINGS Six months ended Sep. 30, Year ended Mar. 31, 2002 Millions of yen (Unaudited) (Unaudited) Capital Surplus Balance, at Beginning of Six Months 845, , ,556 Deductions 39, Draw Down for Deficit Reduction 39, Balance, at End of Six Months 806, , ,556 Retained Earnings Balance, at Beginning of Six Months (215,016) 303, ,208 Additions 192,247 85,910 18,477 Net Income 150,584 69,201 - Transfer from Capital Surplus 39, Reversal of Revaluation Reserve for Land 2,290 4,398 6,167 Merger of Consolidated Subsidiaries - 12,310 12,310 Deductions 2 11, ,703 Dividend Declared - 10,998 10,998 Bonuses for Directors and Statutory Auditors Net Loss ,697 Balance, at End of Six Months (22,772) 378,113 (215,016) UFJ Bank Limited - 5 -

33 CONSOLIDATED STATEMENTS OF CASH FLOWS Six Months Ended September 30, Year ended March 31, 2003 Millions of yen (Unaudited) (Unaudited) Cash Flows from Operating Activities Income Before Income Taxes 162,470 64,120 (528,984) Depreciation 9,550 12,350 23,470 Amortization of Goodwill 3,358 1,968 2,976 Equity in Earnings of Affiliates (4,090) 2,921 1,551 Net Increase (Decrease) in Reserve for Possible Loan Losses (241,309) (140,931) (22,958) Net Increase (Decrease) in Reserve for Possible Losses on Securities 310 1, Net Increase (Decrease) in Reserve for Contingent Liabilities Related to Loans Sold (9,830) 3,109 (36,137) Net Increase (Decrease) in Reserve for Possible Losses on Support of Specific Borrowers 5,700 (374,067) (534,057) Net Increase (Decrease) in Reserve for Employee Bonus (5,786) (4,442) 1,556 Net Increase (Decrease) in Reserve for Retirement Benefit 109,146 21,251 21,725 Interest Income (484,972) (559,934) (1,093,304) Interest Expenses 92, , ,394 Net (Gain) Loss on Securities (113,440) 2, ,455 Net (Gain) Loss on Money Held in Trust Net (Gain) Loss on Foreign Exchange Transactions 125,816 75,372 59,679 Net (Gain) Loss on Sales of Premises and Equipment 9,680 8,950 25,565 Net (Gain) Loss on Establishing Retirement Benefit Trust (36,233) (13,953) (13,953) Net (Increase) Decrease in Trading Assets (226,183) (369,692) (280,511) Net Increase (Decrease) in Trading Liabilities (262,465) 502, ,088 Net (Increase) Decrease in Loans and Bills Discounted 2,614,571 1,860,717 1,460,450 Net Increase (Decrease) in Deposits 230,370 (747,010) 171,661 Net Increase (Decrease) in Negotiable Certificates of Deposit 744,090 2,507,634 (864,074) Net Increase (Decrease) in Borrowed Money (Non-subordinated) (425,159) 93, ,826 Net (Increase) Decrease in Due from Banks Excluding Due from Central Bank (43,647) 342,507 1,096,337 Net (Increase) Decrease in Call Loans and Monetary Receivables Bought 192,699 (937,627) (140,282) Net (Increase) Decrease in Collateral Deposits on Securities Borrowed (469,470) (451,578) (946,164) Net Increase (Decrease) in Call Money and Other Fundings Related to Operating Activities 177, ,168 2,711,923 Net Increase (Decrease) in Commercial Paper 47,698 (104,355) (250,487) Net Increase (Decrease) in Collateral Deposits on Securities Lent (626,919) 1,050,880 1,313,081 Net (Increase) Decrease in Foreign Exchange Assets 2,020 19,148 (16,678) Net Increase (Decrease) in Foreign Exchange Liabilities 79,169 (92,385) (78,699) Net Increase (Decrease) in Corporate Bonds Resulted from Issuance, Redemption and Repurchase 92, , ,343 Interest Received 525, ,719 1,156,198 Interest Paid (105,062) (167,987) (297,891) Others, Net 12,962 77,387 (243,404) Sub-total 2,182,403 3,959,200 3,979,012 Income Taxes Paid (2,017) (3,678) (6,766) Net Cash Provided by (Used in) Operating Activities 2,180,385 3,955,522 3,972,245 UFJ Bank Limited - 6 -

34 UFJ Bank Limited CONSOLIDATED STATEMENTS OF CASH FLOWS (CONTINUED) Six Months Ended September 30, Year ended March 31, 2002 Millions of yen (Unaudited) (Unaudited) Cash Flows from Investing Activities Purchases of Securities (29,647,992) (25,607,082) (45,836,448) Proceeds from Sales of Securities 20,707,334 14,660,085 31,381,653 Proceeds from Maturities of Securities 6,842,111 4,671,826 10,483,767 Increase in Money Held in Trust (48,930) (19,318) (70,846) Decrease in Money Held in Trust 45, , ,818 Expenditures for Premises and Equipment (13,008) (15,837) (23,322) Proceeds from Sales of Premises and Equipment 11,135 19,352 35,533 Expenditures for Purchases of Consolidated Subsidiaries - (13,559) (13,275) Proceeds from Sales of Consolidated Subsidiaries - 9,487 9,487 Others, Net (4) - - Net Cash Provided by (Used in) Investing Activities (2,103,774) (6,179,543) (3,848,632) Cash Flows from Financing Activities Proceeds from Issuance of Subordinated Debt 21, , ,500 Expenditures for Repayment of Subordinated Debt (2,000) (241,500) (520,500) Proceeds from Issuance of Subordinated Bonds 244,374 13,832 34,932 Redemption and Repurchase of Subordinated Bonds (67,377) (210,302) (559,068) Proceeds from Issuance of Capital Stocks to Minority Interests - 111, ,000 Dividends Paid - (10,998) (10,998) Dividends Paid to Minority Interests (7,455) (13,429) (26,780) Net Cash Provided by (Used in) Financing Activities 189,142 (242,898) (687,914) Effect of Exchange Rate Changes on Cash and Cash Equivalents (1,008) (1,357) (1,425) Net Increase (Decrease) in Cash and Cash Equivalents 264,745 (2,468,276) (565,727) Cash and Cash Equivalents at Beginning of Fiscal Year 3,278,717 3,843,124 3,843,124 Increase in Cash and Cash Equivalents due to Change of Scope of Consolidated - 1,623 1,338 Decrease in Cash and Cash Equivalents Caused by Exclusion from Scope of Consolidated - - (18) Increase in Cash and Cash Equivalents due to Merger of Subsidiaries Cash and Cash Equivalents at End of Fiscal Year 3,543,462 1,376,471 3,278,717 Note: A recognition between "Cash and Cash Equivalenst" and Cash and Due from Banks on the balance sheet sheet is as follows: Cash and Due from Banks 4,522,794 Less: Due from Banks other than Central Banks (979,331) Cash and Cash Equivalents 3,543,

35 SEGMENT INFORMATION A. Segment Information by Type of Business Six Months ended Banking and Elimination and September 30, 2003 Trust Business Leases Others Total Corporate Assets Consolidated I Ordinary Income 905, , ,483 1,150,333 (35,410) 1,114,923 (1) Outside Customers 898,848 97, ,341 1,114,923-1,114,923 (2) Internal-Business Transfer 6,904 7,364 21,141 35,410 (35,410) - Ordinary Expense 817, , ,883 1,041,332 (36,712) 1,004,619 Ordinary Profit (Loss) 87,823 3,577 17, ,001 1, ,304 UFJ Bank Limited B. Segment Information by Location Six Months ended Asia/Oceania Elimination and September 30, 2003 Japan Americas EuropeExcluding Japan Total Corporate Assets Consolidated I Ordinary Income 1,047,909 75,232 52,600 41,220 1,216,962 (102,038) 1,114,923 (1) Outside Customers 1,004,011 41,066 34,376 35,468 1,114,923-1,114,923 (2) Internal-Business Transfer 43,897 34,165 18,223 5, ,038 (102,038) - Ordinary Expense 968,245 46,380 43,892 25,082 1,083,602 (78,982) 1,004,619 Ordinary Profit (Loss) 79,663 28,851 8,707 16, ,360 (23,056) 110,304 Notes: (1) Ordinary Income represents "Total Revenues" less certain items such as "Gain on Sales of Premises and Equipment" and "Collection of Written off Claims." Ordinary Expenses represents "Total Expenses" less certain items such as "Loss on Sales of Premises and Equipment" and "Amortization of Net Transitional Obligation for Employee Retirement Benefits." (2) "Americas" includes the United States and Canada. "Europe" includes United Kingdom and Germany. "Asia/Oceania Excluding Japan includes Hong Kong, Singapore and Australia. C. Ordinary Income from Overseas Operations Ordinary Income Consolidated Ratio of Ordinary Income from Overseas Ordinary from Overseas Operations Operations Income over Consolidated Ordinary Income Six months ended September 30, ,911 1,114, % Notes: (1) Ordinary Income form Overseas Operation is shown, in stead of Overseas Sales Amount for non-financial companies. (2) Ordinary Income from Overseas Operations primarily includes income from transactions of the Bank's overseas branches, and income from transactions of the overseas consolidated subsidiaries (excluding Internal Ordinary Income between consolidated entities). Segment Information by Location on Ordinary Income from Overseas Operations is not shown here since Ordinary Income from Overseas Operations is not classified by the domicile of obligators

36 UFJ Bank Limited MARKET VALUE INFORMATION ON SECURITIES AND MONEY HELD IN TRUST (CONSOLIDATED) A. Securities The following includes "Securities", trading account securities, negotiable due from banks and commercial paper under "Trading Assets", negotiable due from banks under "Cash and Due from Banks" and commodity funds under "Monetary Receivables Bought". 1. Held-to-Maturity Debt Securities with Market Value As of September 30, 2003 Book Market Unrealized Gain(Loss) Type Value Value Net Gain Loss Japanese Bonds Japanese National Government Bonds Japanese Local Bovernment Bonds Japanese Corporate Bonds and Financial Deventures Others 44,061 44, Total 44,071 44, Market Value of Stocks: Market value at the end of the fiscal accounting period 2. Available-for-Sale Securities with Market Value As of September 30, 2003 Aggregate Market Unrealized Gain(Loss) Type Cost Value Net Gain Loss Japanese Equities 1,812,125 2,150, , ,297 65,037 Japanese Bonds 12,996,069 12,901,107 (94,962) 26, ,681 Japanese NationalGovernment Bonds 12,484,130 12,380,989 (103,141) 18, ,313 Japanese Local Government Bonds 284, ,820 4,284 4, Japanese Corporate Bonds and Financial Debentures 227, ,297 3,894 4, Others 2,370,459 2,397,291 26,831 37,409 10,578 Total 17,178,655 17,448, , , ,297 Market Value: Stocks: Average market value over one month period prior to the closing of the fiscal accounting period. Others: Market value at the end of the fiscal accounting period. 3. Held-to-maturity Debt Securities and Available-for-sale Securities whose Market Value is not readily determinable As of September 30, 2003 (Millions of Yen) Book value Held-to-maturity Debt Securities Unlisted Bonds 44 Available-for-sale securities Unlisted Bonds 1,486,581 Unlisted Stocks (excluding over-the-counter stocks) 543,031 Unlisted Foreign Securities 41,176 Negotiable Due from Banks 34,924 B. Money Held in Trust 1.Held-to-Maturity Money Held in Trust There is no Money Held in Trust for Trading Purpose 2.Other than Held-to-Maturity Money Held in Trust and Investment Money Held in Trust There is no other than Held-to-Maturity Money Held in Trust and Investment Money Held in Trust C. Net Unrealized Gains (Loss) on Available-for-Sale Securities, Net of Taxes As of September 30, 2002 Type Book Value Net Unrealized Gains 270,129 Available-for-Sale Securities 270,129 Available-for-Sale Money Held in Trust - Deferred Tax Assets 143 Less: Deferred Tax Liabilities 111,155 Net Unrealized Gains (Losses), Net of Taxes 159,117 (before adjustment for minority interest) Less: Minority Interest 2,042 Parent Company's Share of Net Unrealized Gains (Losses) Securities Held by Affiliates Accounted for under Equity Method 1,944 Net Unrealized Gains (Loss) on Available-for-sale Securities, Net of Taxes 159,

37 UFJ Bank Limited MARKET VALUE INFORMATION ON DERIVATIVES TRANSACTIONS A.Interest Related Transactions As of September 30, 2003 Type Contractual Value Market Value Unrealized Gain( Loss) Exchange-traded Interest Rate Futures 54,038,254 4,127 4,127 Interest Rate Options 19,102, Over-the-Counter Forward Rate Agreement 824, Interest Rate Swaps 154,888, , ,663 Interest Rate Options Others 8,834,524 19,034 29,310 Total 232, ,631 Notes: The macro hedge transactions, which adopt mark-to-market accounting policy from this interim period, are included. The above Gain (Loss) is stated on the Consolidated Statements of Income. Derivatives transactions to which hedge accounting is applied are excluded. B.Currency Related Transactions As of September 30, 2003 Type Contractual Value Market Value Unrealized Gain( Loss) Exchange-traded Currency Futures 5, Currency Options Over-the-Counter Currency Swaps 5,566,011 7,556 7,556 Foreign Exchange Forward Contracts 9,872,582 33,246 33,246 Currency Options 6,432,660 19,367 46,067 Total 60,178 88,878 Notes: (1) The above Gain (Loss) is stated on the Consolidated Statements of Income. Derivatives transactions, to which hedge accounting is applied are excluded. Foreign exchange forward contracts, currency options and some other transactions attached to foreign currency based receivables/payables, and reflected in the Consolidated Balance Sheets or eliminated in consolidation process are excluded from the above table. (2) From this interim period, foreign exchange forward contracts, currency options and some other transactions, which have been revalued based on the foreign exchange accounting standards, are included. Certain Currency Swaps have been excluded, since such Currency Swaps have been accounted for by using the accrual method of accounting based on "Tentative Auditing Treatment relating to Adoption of 'Revised Accounting for Foreign Currency Transaction' for Banks." (The Japanese Institute of Certified Public Accountants April 10, 1999)

38 C.Equity Related Transactions As of September 30, 2003 Type Contractual Value Market Value Unrealized Gain( Loss) Exchange-traded Stock Index Futures 246, Stock Index Options 1,341,037 (6,171) (4,790) Equity Options 23,863 1,121 (747) Over-the-Counter Forward Securities Agreement 1,992 (14) (14) Securities Over-the-counter Options 62,676 (4,060) 621 Securities Over-the-counter Swaps 132,418 2,945 2,945 Total (5,775) (1,581) Notes: The above Gain (Loss) is stated on the Consolidated Statements of Income. Derivatives Transactions to which hedge accounting is applied are excluded. D.Bond Related Transactions As of September 30, 2003 Type Contractual Value Market Value Unrealized Gain( Loss) Exchange-traded Bond Futures 2,913,903 (2,842) (2,842) Bond Futures Options 893,183 (585) (738) Over-the-Counter Bond Options 215,237 2,259 2,181 Total (1,167) (1,398) Notes: The above Gain (Loss) is stated on the Consolidated Statements of Income. Derivatives Transactions to which hedge accounting is applied are excluded. E.Commodity Related Transactions As of September 30, 2003 Type Contractual Value Market Value Unrealized Gain( Loss) Over-the-Counter Commodity Swaps (Fuel) 109,268 2,307 2,307 Commodity Options 6,405 (0) 140 Total 2,307 2,448 Notes: The above Gains(Loss) are stated on the Consolidated Statements of Income. Derivatives Transactions to which hedge accounting is applied are excluded. F.Credit Derivatives Related Transactions As of September 30, 2003 Type Contractual Value Market Value Unrealized Gain( Loss) Over-the-counter Credit Default Swaps 1,201,850 1,884 1,884 Credit Default Options 20,500 (29) (29) Total 1,854 1,854 Notes: The above Gains(Loss) are stated on the Consolidated Statements of Income. Derivatives Transactions to which hedge accounting is applied are excluded. G Other Derivatives Transactions As of September 30, 2003 Type Contractual Value Market Value Unrealized Gain( Loss) Over-the-counter Weather Options 202 (6) 41 Total (6) 41 Notes: The above Gain (Loss) is stated on the Consolidated Statements of Income. Derivatives Transactions to which hedge accounting is applied are excluded. UFJ Bank Limited

39 NON-CONSOLIDATED BALANCE SHEETS UFJ Bank Limited As of September 30, As of March 31, Millions of yen (Unaudited) (Unaudited) Assets: Cash and Due from Banks 4,659,504 2,999,087 4,220,815 Call Loans 317, , ,514 Collateral Deposits on Securities Borrowed 1,437, , ,165 Bills Bought - 581,700 - Monetary Receivables Bought 94,446 31,198 71,008 Trading Assets 906,360 1,210, ,769 Money Held in Trust 50 20,439 4,588 Securities 19,978,390 19,117,201 16,767,956 Loans and Bills Discounted 37,120,218 39,643,594 39,721,610 Foreign Exchange 554, , ,066 Other Assets 1,388,769 1,246,262 1,711,690 Premises and Equipment 539, , ,747 Deferred Tax Assets 1,215,849 1,304,442 1,256,748 Customers' Liabilities for Acceptances and Guarantees 3,573,903 3,561,337 3,242,752 Reserve for Credit Losses (1,118,007) (1,258,387) (1,320,181) Reserve for Possible Losses on Securities (2,637) (3,286) (1,848) Total Assets 70,666,408 70,491,681 68,824,402 Liabilities, Minority Interests and Stockholders' Equity Liabilities: Deposits 46,964,038 45,876,779 47,039,365 Negotiable Certificates of Deposit 5,466,188 8,056,707 4,730,792 Call Money 2,203,502 2,191,777 1,538,721 Payables under Repurchase Agreements 411,207 94, ,981 Collateral Deposits on Securities Loaned 989,054 1,609,392 1,579,556 Bills Sold 2,680, ,129 3,060,307 Commercial Paper 261, , ,000 Trading Liabilities 193, , ,498 Borrowed Money 1,836,358 2,306,733 1,850,239 Foreign Exchanges 168,909 75,810 94,571 Bonds and Notes 2,033,500 1,776,300 1,821,400 Other Liabilities 1,722,396 1,032, ,895 Reserve for Employee Bonus 7,436 7,821 7,668 Reserve for Contingent Liabilities Related to Loans Sold 8,333 51,149 13,635 Reserve for Losses on Supports of Specific Borrowers 5, ,990 - Other Reserves Deferred Tax Liabilities Related to Revaluation Reserve for Land 73,481 73,395 75,045 Acceptances and Guarantees 3,573,903 3,561,337 3,242,752 Total Liabilities 68,598,252 68,267,488 66,995,433 Stockholders' Equity: Capital Stock 843, , ,582 Capital Surplus 806,184 1,290,556 1,290,556 Capital Surplus 806, , ,556 Other Capital Surplus - 445, ,000 Retained Earnings 180, ,690 (484,372) Voluntary Reserve - 3,274 3,274 Unappropriated Profit at the End of the Period 180, ,415 (487,646) Net Income 178,701 71,883 (543,917) Revaluation Reserve for Land, Net of Taxes Net Unrealized Profit (Loss) on Available-for-sale securities, Net of Tax 107, , ,076 (153,713) 109,568 69,633 Total Stockholders' Equity 2,068,156 2,224,193 1,828,969 Total Liabilities, Minority Interests and Stockholders' Equity 70,666,408 70,491,681 68,824,

40 NON-CONSOLIDATED STATEMENTS OF INCOME UFJ Bank Limited Six months ended September 30, Year ended March 31, 2003 Millions of yen (Unaudited) (Unaudited) Revenues: Interest Income 449, , ,962 Interest on Loans and Discounts 337, , ,032 Interest on and Dividends from Securities 86,636 98, ,587 Fees and Commissions 126,587 97, ,147 Trading Revenue 79,621 61,042 97,825 Other Operating Income 181, , ,984 Other Income 97, , ,791 Total Income 935, ,472 1,781,711 Expenses: Interest Expenses 89, , ,501 Interest on Deposits 29,065 56,245 96,784 Fees and Commissions 47,247 44,750 89,623 Trading Expenses Other Operating Expenses 67,027 15,879 49,222 General and Administrative Expenses 263, , ,092 Other Expenses 291, ,269 1,402,808 Total Expenses 759, ,698 2,327,686 Income (Loss) before Income Taxes 175,304 70,773 (545,974) Less:Provision for Income Taxes (1,303) Less:Deferred Income Taxes (2,093) (1,771) (2,890) Net Income (Loss) 178,701 71,883 (543,917) Profit Brought forward from Previous Year - 50,133 50,133 Reversal of Revaluation Reserve for Land 2,283 4,398 6,136 Unappropriated Profit (Undisposed Loss) at End of the Period 180, ,415 (487,646)

41 CONSOLIDATED BALANCE SHEETS UFJ Trust Bank Limited As of September 30,As of March 31, Millions of yen (Unaudited) (Unaudited) Assets: Cash and Due from Banks 480, , ,168 Call Loans 4,468 2,282 4,568 Collateral Deposits on Securities Borrowed ,997 Monetary Receivables Bought 43,440 92,742 41,188 Trading Assets 17,692 22,417 18,114 Securities 1,920,142 2,198,153 1,702,372 Loans and Bills Discounted 3,047,022 3,006,821 2,988,726 Foreign Exchanges 456 2,679 1,913 Other Assets 188, , ,383 Premises and Equipment 102, , ,860 Deferred Tax Assets 222, , ,439 Customers' Liabilities for Acceptances and Guarantees 227, , ,543 Reserve for Credit Losses (133,221) (106,970) (145,808) Reserve for Losses on Securities (0) - (0) Total Assets 6,121,173 6,299,618 6,117,466 Liabilities, Minority Interests and Stockholders' Equity Liabilities: Deposits 3,240,373 3,157,304 3,317,308 Negotiable Certificates of Deposit 530, , ,700 Call Money 236, , ,889 Trading Liabilities 9,565 16,297 15,061 Borrowed Money 80, ,261 85,597 Foreign Exchanges Bonds and Notes 62,400 94,400 44,400 Borrowed Money from Trust Account 1,348,332 1,167,598 1,250,246 Other Liabilities 40,042 52,120 45,218 Reserve for Bonus 1,432 1,389 1,346 Reserve for Retirement Benefits Reserve for Contingent Liabilities Related to Loans Sold - 1,349 - Other Reserves Deferred Tax Liabilities Related to Revaluation Reserve for Land 7,666 7,711 7,716 Acceptances and Guarantees 227, , ,543 Total Liabilities 5,785,280 5,976,342 5,887,542 Minority Interests Stockholders' Equity: Capital Stocks 280, , ,536 Capital Surplus 57, , ,329 Retained Earnings 25, (83,971) Revaluation Reserve for Land, Net of Taxes 12,046 12,061 12,070 Net Unrealized Profit (Loss) on Available-for-securities, Net of Tax (39,809) (108,653) (116,892) Foreign Currency Translation Adjustments (216) (237) (213) Total Stockholders' Equity 335, , ,858 Total Liabilities, Minority Interests and Stockholders' Equity 6,121,173 6,299,618 6,117,

42 UFJ Trust Bank Limited Notes: (1) The amount of the charge-off as of September 30, 2003 was 81,382 million yen. (2) "Reserve for Retirement Benefit" is provided for future pension and lump-sum severance indemnity payment to employees. The reserve is recorded based on the projected benefit obligation and the pension plan asset amount at the end of the six months ended September 30, The unrecognized net obligation at transition (13,367 million yen) is amortized over 5 years, and the amortized amount is recorded for the six months ended September 30, (3) As of September 30, 2003, Loans to Bankrupt Companies and Other Delinquent Loans were 8,665 million yen and 40,879 million yen, respectively. As of September 30, 2003, Loans Past Due 3 Months or More, other than Loans to Bankrupt Companies and Other Delinquent Loans, were 1,012 million yen. As of September 30, 2003 Restructured Loans were 346,423 million yen. (4) The net realized and unrealized profits and losses arising on hedging instruments are included in Other Liabilities as deferred hedge profits. The gross amounts of deferred hedge profits and losses are 23,505 million yen and 20,932 million yen, respectively. (5) Pursuant to overdraft agreements and commitments to provide loans, the Bank may provide loans with customers up to certain limits. Among such limits, 799,598 million yen remains unused of which 793,598 million yen is based on contracts to be terminated within a year or revocable by the Bank. (6) Amounts less than one million yen are omitted

43 CONSOLIDATED STATEMENTS OF INCOME UFJ Trust Bank Limited Six months ended September 30, Year ended March 31, 2003 Millions of yen (Unaudited) (Unaudited) Revenue: Trust fees 20,688 27,120 58,678 Interest Income 25,423 33,034 64,539 Interest on Loans and Discounts 20,203 24,529 47,015 Interest on and Dividends from Securities 5,005 7,686 16,182 Fees and Commissions 28,956 25,221 51,230 Trading Revenue Other Operating Income 16,320 24,394 46,257 Other Income 24,904 31,886 38,264 Total Income 117, , ,552 Expenses: Interest Expenses 8,950 13,127 22,938 Interest on Deposits 3,995 6,425 11,395 Fees and Commissions 2,794 1,936 4,139 Other Operating Expenses 11,334 19,024 25,688 General and Administrative Expenses 43,180 43,886 85,920 Other Expenses 19,649 78, ,702 Total Expenses 85, , ,389 Income (Loss) before Income Taxes, & Minority Interests 31,342 (14,633) (91,837) Provision for Income Taxes Deferred Income Taxes 2,192 (18,412) (10,973) Minority Interests in Net Income Net Income (Loss) 28,837 2,863 (81,909) - 3 -

44 UFJ Trust Bank Limited Notes: (1) Other Expenses for the the six months ended September 30, 2003 includes Write-off of Loans: 4,268 million yen, Revaluation Loss on Stocks and Other Equity Securities: 1,156 million yen Losses on Sales of Premises and Equipment: 2,211 million yen Expenses for amortization of unrecognized net pension obligation pursuant to a change in accounting policy: 1,336 million yen (2) Other Income for the six months ended September 30, 2003 includes: Reversal of Reserve for Possible Losses: 5,132 million yen Gains on the establishment of a retirement benefit trust: 4,653 million yen Tax refund and its interest of the Tokyo Metropolitan Government's tax on large banks: 4,209 million yen (3) Amounts less than one million yen are omitted

45 CONSOLIDATED STATEMENTS OF CAPITAL SURPLUS AND RETAINED EARNINGS Six months ended Sept. 30, Year ended Mar. 31, 2003 Millions of yen (Unaudited) (Unaudited) Capital Surplus Balance, at Beginning of Six Months 138, , ,676 Deductions 80, , ,347 Transfer to Retained Earnings 80, , ,347 Balance, at End of Six Months 57, , ,329 Retained Earnings Balance, at Beginning of the Period (83,971) (116,400) (116,400) Additions 109, , ,347 Net Income 28,837 2,863 - Transfer from Capital Surplus 80, , ,347 Reversal of Revaluation Reserve for Land Deductions ,917 Reversal of Revaluation Reserve for Land Net Loss ,909 Balance, at End of the Period 25, (83,971) UFJ Trust Bank Limited - 5 -

46 UFJ Trust Bank Limited CONSOLIDATED STATEMENTS OF CASH FLOWS Six Months Ended September 30, Year ended March 31, 2003 Millions of yen (Unaudited) (Unaudited) Cash Flows from Operating Activities Income Before Income Taxes, & Minority Interests 31,342 (14,633) (91,837) Depreciation 1,718 2,075 4,188 Amortization of Goodwill - 3 (100) Equity in Earnings of Affiliates 208 1,489 (498) Net Increase (Decrease) in Reserve for Possible Loan Losses (12,586) (21,553) 17,284 Net Increase (Decrease) in Reserve for Possible Losses on Securities (0) (59) (59) Net Increase (Decrease) in Reserve for Contingent Liabilities Related to Loans Sold - (423) (1,772) Net Increase (Decrease) in Reserve for Supporting Specific Borrowers - (45,100) (45,100) Net Increase (Decrease) in Reserve for Employee Bonus 85 (193) (236) Net Increase (Decrease) in Reserve for Retirement Benefits 9,097 6, Net Increase (Decrease) in Other Reserve (0) - - Interest Income (25,423) (33,034) (64,539) Interest Expenses 8,950 13,127 22,938 Net (Gain) Loss on Securities (6,693) 52, ,666 Net (Gain) Loss on Exchanges 277 3,018 (1,277) Net (Gain) Loss on Sales of Premises and Equipment 1, ,078 Net (Gain) Loss on Establishment of Pension Trust (4,653) (3,475) (3,475) Net (Increase) Decrease in Trading Assets 421 5,372 9,676 Net Increase (Decrease) in Trading Liabilities (5,495) (389) (1,625) Net (Increase) Decrease in Loans and Bills Discounted (59,295) 454, ,513 Net Increase (Decrease) in Deposits (76,935) 2, ,359 Net Increase (Decrease) in Negotiable Certificates of Deposit 186,540 (237,980) (573,030) Net Increase (Decrease) in Borrowed Money Excluding Subordinated Debt (4,058) (8,101) (6,765) Net (Increase) Decrease in Due from Banks (excluding Bank of Japan) (10,495) 24,005 30,073 Net (Increase) Decrease in Call Loans and Monetary Receivables Bought (2,156) 55, ,699 Net (Increase) Decrease in Collateral Deposits on Securities Borrowed 299,997 - (299,997) Net Increase (Decrease) in Call Money and Other Fundings Related to Operating Activities (297,652) (288,518) (191,262) Net (Increase) Decrease in Foreign Exchanges (Assets) 1, ,439 Net Increase (Decrease) in Foreign Exchanges (Liabilities) (0) (0) (0) Net increase (Decrease) in Borrowed Money from Trust Account 98,086 (525,241) (442,593) Interest Received 24,586 38,525 79,412 Interest Paid (17,040) (20,292) (37,251) Others, Net 5,779 5,235 7,598 Sub-total 148,047 (533,405) (734,279) Income Taxes Paid (Refunded) (1,879) (1,265) (574) Net Cash Provided by (Used in) Operating Activities 146,168 (534,670) (734,853) - 6 -

47 CONSOLIDATED STATEMENTS OF CASH FLOWS UFJ Trust Bank Limited (CONTINUED) Six Months Ended September 30, Year ended March 31, 2003 Millions of yen (Unaudited) (Unaudited) Cash Flows from Investing Activities Purchases of Securities (1,529,427) (2,296,899) (4,932,601) Proceeds from Sales of Securities 1,245,418 2,080,046 4,993,314 Proceeds from Maturities of Securities 145, , ,413 Expenditures for Premises and Equipment (560) (991) (1,795) Proceeds from Sales of Premises and Equipment 1,394 4,928 5,686 Net Cash Provided by (Used in) Investing Activities (137,427) 278, ,018 Cash Flows from Financing Activities Expenditures for Repayment of Subordinated Debt - (29,000) (45,000) Proceeds from Issuance of Subordinated Bonds 19, Redemption and Repurchase of Subordinated Bonds (1,000) (11,203) (60,869) Net Cash Provided by (Used in) Financing Activities 18,000 (40,203) (105,869) Net Increase (Decrease) in Cash and Cash Equivalents 26,740 (296,633) (109,704) Cash and Cash Equivalents at Beginning of Fiscal Year 425, , ,915 Cash and Cash Equivalents at End of Interim period 451, , ,

48 SEGMENT INFORMATION A. Segment Information by Type of Business Six Months ended Banking and Elimination and September 30, 2003 Trust Business Leases Others Total Corporate Assets Consolidated I Ordinary Income 90,959 10,880 1, ,117 (551) 102,566 (1) Outside Customers 90,719 10,745 1, , ,566 (2) Internal-Business Transfer (551) - Ordinary Expense 71,117 10,611 1,279 83,007 (646) 82,361 Ordinary Profit (Loss) 19, (1) 20, ,205 B. Segment Information by Location UFJ Trust Bank Limited The table of segment information by location is omitted because ordinary income from "Japan" accounts for over 90% of total ordinary income. C. Ordinary Income from Overseas Operations The table of ordinary income from overseas operations is omitted because ordinary income from overseas operations accounts for under 10 % of total ordinary income

49 UFJ Trust Bank Limited MARKET VALUE INFORMATION ON SECURITIES AND MONEY HELD IN TRUST (CONSOLIDATED) A. Securities The following includes "Securities", trading account securities, negotiable due from banks and commercial paper under "Trading Assets", negotiable due from banks under "Cash and Due from Banks" and commodity funds under "Monetary Receivables Bought". 1.Available-for-Sale Securities with Market Value As of September 30, 2003 Aggregate Market Unrealized Gain(Loss) Type Cost Value Net Gain Loss Japanese Equities 401, ,200 7,598 62,941 55,343 Japanese Bonds 1,382,841 1,351,538 (31,302) ,789 Japanese NationalGovernment Bonds 1,368,072 1,336,643 (31,429) ,712 Japanese Local Government Bonds 2,261 2, Japanese Corporate Bonds and Financial Debentures 12,506 12,471 (35) Others 86,659 68,784 (17,875) ,453 Total 1,871,102 1,829,522 (41,579) 64, ,585 Market Value: Stocks: Average market value over one month period prior to the closing of the fiscal accounting period. Others: Market value at the end of the fiscal accounting period. 2.Held-to-maturity debt securities and available-for-sale securities whose market value is not readily determinable As of September 30, 2003 (Millions of Yen) Book value Available-for-sale Securities Beneficiary Certificates of Loan Trusts 31,365 Unlisted Stocks (excluding over-the-counter stocks) 27,948 Unlisted Bonds 23,947 B. Money Held in Trust There is no Money Held in Trust C. Unrealized Gain (Loss) on Available-for-Sale Securities As of September 30, 2003 Type Book Value Net Unrealized Gain (Loss) (41,579) Available-for-Sale Securities (41,579) Less: Deferred Tax Liabilities 1,771 Net Unrealized Gain (Loss), Net of Taxes (39,807) (before adjustment for minority interest) Less: Minority Interest - Parent Company's Share of Net Unrealized Gain (Loss) Securities Held by Affiliates Accounted for under Equity Method (1) Net Unrealized Gain (Loss) on Available-for-sale Securities, Net of Taxes (39,809) - 9 -

50 MARKET VALUE INFORMATION ON DERIVATIVES TRANSACTIONS A.Interest Related Transactions Type As of September 30, 2003 Contractual ValueMarket ValueUnrealized Gain( Loss) Over-the-Counter Interest Rate Swaps 1,230,335 1,010 1,010 Others 126,953 (12) (12) Total Notes: The above Gain (Loss) is stated on the Consolidated Statements of Income. Derivatives transactions to which hedge accounting is applied are excluded. B.Currency Related Transactions As of September 30, 2003 Type Contractual ValueMarket ValueUnrealized Gain( Loss) Over-the-Counter Currency Swaps 19, Total Notes: The above Gain (Loss) is stated on the Consolidated Statements of Income. Derivatives transactions, to which hedge accounting is applied are excluded. C.Equity Related Transactions As of September 30, 2003 Type Contractual ValueMarket ValueUnrealized Gain( Loss) Over-the-Counter Others 66,417 (459) (459) Total (459) (459) Notes: The above Gain (Loss) is stated on the Consolidated Statements of Income. Derivatives Transactions to which hedge accounting is applied are excluded. D.Bond Related Transactions UFJ Trust Bank Limited There is no Commodity Related Transaction E.Commodity Related Transactions There is no Commodity Related Transaction F.Credit Derivatives Related Transactions As of September 30, 2003 Type Contractual ValueMarket ValueUnrealized Gain( Loss) Over-the-counter Credit Default Swaps 28,690 (48) (48) Total (48) (48) Notes: The above Gain (Loss) is stated on the Consolidated Statements of Income. Derivatives Transactions to which hedge accounting is applied are excluded

51 Non-Consolidated Balance Sheets (Banking Account) As of September 30, As of March 31, Millions of yen Assets: Cash and Due from Banks 479, , ,987 Collateral Deposits on Securities Borrowed ,997 Monetary Receivables Bought 43,440 92,742 41,188 Trading Assets 17,692 22,417 18,114 Securities 1,961,010 2,238,395 1,742,461 Loans 3,083,382 3,063,737 3,031,408 Foreign Exchanges 456 2,679 1,913 Other Assets 151, , ,674 Premises and Equipment 46,875 51,681 49,041 Deferred Tax Assets 214, , ,547 Deferred Tax Assets for Revaluation Reserve for Land Customers' Liabilities for Acceptances and Guarantees Reserve for Credit Losses 141,160 (132,676) 163,703 (105,867) 150,942 (144,765) Reserve for Possible Losses on Securities (0) - (0) Total Assets 6,007,195 6,171,897 5,993,511 Liabilities: Deposits 3,242,495 3,159,357 3,319,039 Negotiable Certificates of Deposit 530, , ,700 Call Money 21,237 46,433 30,889 Bills Sold 215, , ,000 Trading Liabilities 9,565 16,297 15,061 Borrowed Money 57,503 74,506 58,504 Foreign Exchanges Bonds and Notes 57,900 88,900 38,900 Borrowed Money from Trust Account 1,348,332 1,167,598 1,250,246 Other Liabilities 34,066 45,669 38,342 Reserve for Bonus 1,125 1,189 1,147 Reserve for Retirement Benefits Reserve for Contingent Liabilities Related to Loans Sold - 1,349 - Other Reserves Acceptances and Guarantees 141, , ,942 Total Liabilities 5,658,740 5,834,072 5,749,914 Capital Stocks 280, , ,536 Capital Surplus 57, , ,329 Capital Surplus 57, , ,329 Ratined Earnings 51,567 28,485 (56,903) Retained Earnings 23,726 23,726 23,726 Unappropriated Profit (Undisposed Loss) at End of the Period 27,841 4,758 (80,629) Net Income 27,768 4,758 (80,621) Revaluation Reserve for Land, Net of Taxes (1,430) (836) (1,357) Net Unrealized Profit (Loss) on Available-for-securities, Net of Tax (39,917) (108,688) (117,006) Total Stockholders' Equity 348, , ,597 Total Liabilities, Minority Interests and Stockholders' Equity 6,007,195 6,171,897 5,993,511 UFJ Trust Bank Limited

52 Non-Consolidated Statements of Income Six Months ended Sept. 30, Year ended Mar. 31, 2003 Millions of yen (Unaudited) (Unaudited) Income: Trust Fees 20,688 27,120 58,678 Interest Income 25,440 33,858 65,554 Interest on Loans and Discounts 20,250 24,718 47,263 Interest on and Dividends from Securities 4,980 8,416 17,159 Fees and Commissions 26,724 23,219 47,321 Trading Revenue Other Operating Income 6,247 12,957 23,838 Other Income 23,482 31,716 38,099 Total Income 103, , ,075 Expenses: Interest Expenses 8,775 13,060 22,911 Interest on Deposits 3,995 6,425 11,395 Fees and Commissions 2,981 2,160 4,580 Other Operating Expenses 1,698 7,965 4,157 General and Administrative Expenses 42,082 43,046 83,577 Other Expenses 18,379 76, ,057 Total Expenses 73, , ,284 Income (Loss) before Income Taxes, & Minority Interests 29,625 (13,221) (91,209) Provision for Income Taxes Deferred Income Taxes 1,851 (18,379) (10,998) Net Income (Loss) 27,768 4,758 (80,621) Reversal of Revaluation Reserve for Land 73 - (8) Unappropriated Profit (Undisposed Loss) at End of the Period 27,841 4,758 (80,629) UFJ Trust Bank Limited

53 UFJ Trust Bank Limited BALANCE SHEETS (TRUST ACCOUNT) As of September 30, As of March 31, Millions of yen Assets: Loans and Bills Discounted 901,496 1,157,231 1,010,519 Securities 2,968,591 14,818,621 3,678,996 Securities of Investment Trusts 7,755,260 7,724,356 6,897,147 Overseas Investments of Investment Trusts 2,103,391 1,857,118 1,877,472 Beneficiary Rights in Trust 7,668 75,880 8,342 Securities in Trust 318, , ,007 Securities Lent 638, , ,300 Money Claims 3,554,685 3,330,475 3,784,824 Premises and Equipment 1,425,791 1,004,987 1,302,169 Superficies 4,700-4,700 Leasing Rights on Land 16,937 15,879 16,976 Other Claims 206, , ,800 Call Loans 1,620,767 2,066,282 1,358,263 Lending Money to Banking Account 1,348,332 1,167,598 1,250,246 Cash and Due from Banks 730, , ,136 Total Assets 23,601,366 34,782,476 22,739,902 Liabilities: Money Trusts 4,367,855 9,720,789 4,856,467 Pension Trusts 8,927 4,293,633 10,927 Property Formation Trusts 4,324 4,655 4,613 Loan Trusts 869,241 1,338,458 1,080,701 Investment Trusts 12,483,044 12,794,864 11,762,451 Money in Trusts Other than Money Trusts 45,332 1,071,702 48,210 Securities in Trust 1,643,486 1,244,692 1,221,583 Money Claims in Trust 2,634,394 1,992,055 2,332,749 Equipment in Trust 143, , ,196 Real Estate in Trust 95, ,109 97,824 Leasing Rights on Land in Trust Composite Trusts 1,305,851 2,060,276 1,174,922 Other Trusts 0 15,592 0 Total Liabilities 23,601,366 34,782,476 22,739,902 Notes: 1. The total amount of Co-operative Trusts with other trust companies adminisstrated were 17,000,988 million yen, 8,313,198 million yen and 17,862,169 million yen as of September 30, 2003, 2002, and March 31, 2003 respectively. 2. Amounts less than one million yen are omitted

54 SUPPLEMENTARY UFJ Holdings, Inc. November 25, 2003 TABLE OF CONTENTS A. SUMMARY OF FINANCIAL RESULTS 1. INCOME STATEMENTS 1 2. BUSINESS PROFIT PER EMPLOYEE 6 3. ROE 6 4. PROFIT MARGIN (DOMESTIC BANKING BUSINESS) 7 5. BOND RELATED GAINS AND LOSSES 8 6. GAINS AND LOSSES ON STOCKS AND OTHER EQUITY SECURITIES 9 7. UNREALIZED PROFITS /LOSSES ON SECURITIES BIS RISK ADJUSTED CAPITAL RATIO NUMBER OF PERSONNEL NUMBER OF OUTLETS BUSINESS PROFIT BY DIVISION (UFJ Bank Non-consolidated) DEFFERED TAX ASSETS 15 B. SUMMARY OF LOANS AND OTHER ASSETS/ LIABILITIES 1. RISK MONITORED LOANS (LOANS TO BANKRUPT COMPANIES, OTHER DELINQUENT LOANS, LOANS PAST DUE 3 MONTHS, AND RESTRUCTURED LOANS) RESERVES FOR RISK MONITORED LOANS PROBLEM LOANS COVERAGE FOR PROBLEM LOANS COVERAGE RATIO FOR EACH CATEGORY INDUSTRIAL CLASSIFICATIONS OF LOANS LOANS FOR CONSUMERS BALANCE AND RATIO OF LOANS TO SMALL-SIZED COMPANIES BALANCE OF LOANS AND DEPOSITS OFF-BALANCING OF PROBLEM LOANS (Combined) 27 C. FORECAST FOR FISCAL YEAR ENDING MARCH 31, FORECAST OF FINANCIAL RESULTS FORECAST OF DIVIDENDS DECLARED (Non-consolidated) 35 In this report, "Combined" means simple aggregate on a non-consolidated basis of UFJ Bank Combined and UFJ Trust Bank for the six months ended September 30, 2003, and of UFJ Bank (former Sanwa Bank and Tokai Bank) and UFJ Trust Bank for the six months ended September 30, "UFJ Bank Combined" means simple aggregate on a non-consolidated of UFJ Bank, UFJ Strategic Partner, Co., Ltd. ( "UFJSP") and UFJ Equity Investments, Co., Ltd. ("UFJEI"). UFJ Trust Bank in "B. SUMMARY OF LOANS AND OTHER ASSETS/ LIABILITIES" inludes trust account. "Trust account" means, unless otherwise noted, total of Jointly Operated Designated Money Trust Account and Loan Trust Account, whose principal is indemnified by UFJ Trust Bank

55 A. SUMMARY OF FINANCIAL RESULTS 1. INCOME STATEMENTS (a)consolidated UFJ Holdings, Inc. (Table A-1-a) Six Months Ended September 30, Millions of Yen Variance Gross Operating Profit 855, ,803 70,928 Net Interest Income 408, ,867 (30,405) Trust Fees (before write-off) 33,408 39,763 (6,354) Fees and Commissions 180, ,620 60,571 Trading Revenue 103,150 74,651 28,498 Other Operating Net Income 130, ,900 18,618 Less: General and Administrative Expenses 383, ,489 3,315 Less: Net Transfer to General Reserve (118,559) (34,826) (83,733) Other Income and Expenses (454,173) (407,897) (46,275) Gains & Losses on Stocks and Other Equity Securities 5,568 (149,849) 155,418 Credit Costs (400,976) (241,428) (159,548) Loans Written-off (181,162) (144,927) (36,234) Net Transfer to Specific Reserve (167,672) (57,738) (109,933) Losses on Sales of Loans to CCPC (491) (408) (83) Transfer to Reserve for Contingent Liabilities Related to Loans Sold (37) (9,051) 9,014 Losses on Loans Securitized/ Sold (33,632) (18,254) (15,378) Gains on Loans Securitized/ Sold 1,903 1,971 (68) Losses on Supporting Specific Borrowers (15,181) (13,813) (1,368) Transfer to Reserve for Possible Losses on Support of Specific Borrowers (5,700) - (5,700) Transfer to Specific Reserve for Loans to Refinancing Countries Credit Costs (Trust Account) (12,846) (12,740) (105) Gains & Losses in Investment under Equity Method 4,812 (3,465) 8,278 Ordinary Profit (Loss) (Keijo Rieki) 136,313 31, ,070 Extraordinary Gains and Losses 58,212 19,776 38,436 Transfer from Reserve for Possible Losses on Support of Specific Borrowers (316) Collection of Written-off Claims 16,557 26,525 (9,967) Income (Loss) before Income Taxes & Minority Interests 194,526 51, ,506 Provision for Income Taxes 3,759 3,897 (137) Deferred Income Taxes 1,430 (35,970) 37,401 Minority Interests in Net Income (Loss) 9,487 10,536 (1,049) Net Income (Loss) 179,848 72, ,291 Credit-related Expenses (278,705) (192,501) (86,203) Six Months Ended September 30, Billions of Yen Variance Consolidated Business Profit * Consolidated Business Profit (After Write-offs in Trust Account) * * Managerial figures, based on internal managerial accounting, calculated by adding non-consolidated business profit of banking subsidiaries to profits/losses of UFJ Holdings,its subsidiaries and affiliates(**), taking into account the parent company's ownerships ratios on each company and adjusting for internal transactions. **Profits/losses of UFJ Holdings, its subsidiaries and affiliates consist of Net Interest Income, Fees and Commissions,Trading Profit and Other Operating Income (Net), minus General and Administrative Expenses and Net Transfer to General Reserve. <Reference> September 30,September 30, Variance Number of Consolidated Subsidiaries (14) Number of Companies Accounted for under Equity Method

56 (b)combined UFJ Holdings, Inc. (Table A-1-b) Six Months Ended September 30, Millions of Yen Variance Gross Operating Profit* 716, ,874 34,363 G.O.P. from Domestic Banking Business 581, ,222 27,406 Net Interest Income 345, ,998 (25,779) Trust Fees (before write-off) 33,488 39,811 (6,323) Fees and Commissions 93,630 65,268 28,362 Trading Revenue 1,370 6,623 (5,252) Other Operating Net Income 107,920 71,520 36,399 G.O.P. from International Banking Business 134, ,651 6,956 Net Interest Income 33,920 40,560 (6,640) Trust Fees (before write-off) (3) Fees and Commissions 10,025 8,998 1,026 Trading Revenue 79,209 53,799 25,410 Other Operating Net Income 11,406 24,243 (12,836) Less: General and Administrative Expenses 285, ,428 (18,193) Personnel Expenses 107, ,857 (5,302) Non-personnel Expenses 163, ,323 (11,945) Tax Expenses 14,303 15,248 (945) Business Profit Before Net Transfer to General Reserve* 431, ,445 52,557 Excluding Gains and Losses on Bonds 318, ,329 34,031 Less: Net Transfer to General Reserve * (124,742) (26,534) (98,208) Business Profit (Gyomu Jun-eki)* 555, , ,765 Gains & Losses on Bonds 112,641 94,115 18,525 Other Income and Expenses (452,291) (393,565) (58,726) Gains & Losses on Stocks and Other Equity Securities 1,817 (148,301) 150,119 Gains on Sales 45,289 39,293 5,996 Losses on Sales (33,543) (38,653) 5,109 Revaluation Losses (9,928) (148,941) 139,013 Credit Costs (376,153) (222,593) (153,560) Loans Written-off (164,624) (134,548) (30,076) Net Transfer to Specific Reserve (172,324) (51,559) (120,765) Losses on Sales of Loans to CCPC (168) (405) 237 Transfer to Reserve for Contingent Liabilities Related to Loans Sold (28) (8,584) 8,556 Losses on Loans Securitized/ Sold (21,027) (6,449) (14,578) Gains on Loans Securitized/ Sold 1,903 1,971 (68) Losses on Supporting Specific Borrowers (15,181) (13,813) (1,368) Transfer to Reserve for Possible Losses on Support of Specific Borrowers (5,700) (9,990) 4,290 Trasnfer to Specific Reserve for Loans to Refinancing Countries Credit Costs (Trust Account) (12,846) (12,740) (105) Special Business Tax Imposed on Banks (6,284) (11,044) 4,760 Ordinary Profit (Loss) (Keijo Rieki) 103,453 11,414 92,039 Extraordinary Gains and Losses 62,742 46,138 16,604 Gains & Losses on Sales of Premises and Equipment (11,055) (9,256) (1,798) Gains on Sales of Premises and Equipment (175) Losses on Sales of Premises and Equipment (11,174) (9,551) (1,623) Collection of Written-off Claims 16,196 26,172 (9,976) Transfer from Reserve 4,177 9,342 (5,165) Transfer to Reserve for Possible Losses on Support of Specific Borrowers - 10,306 (10,306) Gains on Establishment of Retirement Benefit Trusts 40,887 17,428 23,458 Tax Refund from the Tokyo Metropolitan Government 25,692-25,692 Amortization of Net Retirement Benefits Obligation at Transition (13,157) (16,772) 3,615 Income (Loss) Before Income Taxes 166,196 57, ,643 Less: Income Taxes (Current) (1,285) 1,060 (2,345) Less: Income Taxes (Deferred) (242) (20,150) 19,908 Net Income (Loss) 167,723 76,642 91,080 * Before Write-Offs in Trust Account 0 Credit-related Expenses (243,883) (162,978) (80,905) - 2 -

57 (c)ufj Bank Combined (UFJ Bank, UFJSP & UFJEI) UFJ Holdings, Inc. (Table A-1-c) Six Months Ended September 30, Millions of Yen Variance Gross Operating Profit* 636, ,905 41,881 G.O.P. from Domestic Banking Business 503, ,880 36,556 Net Interest Income 328, ,577 (21,670) Fees and Commissions 69,416 43,642 25,774 Trading Revenue 1,215 6,429 (5,213) Other Operating Net Income 103,897 66,231 37,666 G.O.P. from International Banking Business 133, ,025 5,325 Net Interest Income 33,567 40,183 (6,616) Fees and Commissions 10,495 9, Trading Revenue 78,406 53,734 24,671 Other Operating Net Income 10,880 24,540 (13,659) Less: General and Administrative Expenses 245, ,792 (16,003) Personnel Expenses 91,904 96,992 (5,088) Non-personnel Expenses 140, ,165 (10,305) Tax Expenses 13,023 13,633 (610) Business Profit Before Net Transfer to General Reserve* 390, ,113 57,885 Excluding Gains and Losses on Bonds 282, ,832 40,154 Less: Net Transfer to General Reserve * (124,742) (26,534) (98,208) Business Profit (Gyomu Jun-eki)* 515, , ,093 Gains & Losses on Bonds 108,010 90,280 17,730 Other Income and Expenses (431,428) (312,050) (119,377) Gains & Losses on Stocks and Other Equity Securities 525 (91,612) 92,137 Gains on Sales 35,963 36,159 (196) Losses on Sales (27,438) (28,397) 959 Revaluation Losses (7,999) (99,374) 91,374 Credit Costs (372,638) (210,133) (162,505) Loans Written-off (161,013) (125,648) (35,364) Net Transfer to Specific Reserve (172,324) (51,559) (120,765) Losses on Sales of Loans to CCPC (168) (430) 262 Transfer to Reserve for Contingent Liabilities Related to Loans Sold (28) (8,573) 8,545 Losses on Loans Securitized/ Sold (20,912) (2,808) (18,103) Gains on Loans Securitized/ Sold 1,691 1,905 (213) Losses on Supporting Specific Borrowers (15,181) (13,813) (1,368) Transfer to Reserve for Possible Losses on Support of Specific Borrowers (5,700) (9,990) 4,290 Trasnfer to Specific Reserve for Loans to Refinancing Countries Special Business Tax Imposed on Banks (5,784) (9,863) 4,079 Ordinary Profit (Loss) (Keijo Rieki) 84,312 47,596 36,716 Extraordinary Gains and Losses 52,257 23,176 29,080 Gains & Losses on Sales of Premises and Equipment (9,366) (8,597) (769) Gains on Sales of Premises and Equipment (147) Losses on Sales of Premises and Equipment (9,486) (8,864) (621) Collection of Written-off Claims 15,737 25,544 (9,806) Gains on Establishment of Retirement Benefit Trusts 36,233 13,953 22,279 Tax Refund from the Tokyo Metropolitan Government 21,482-21,482 Amortization of Net Retirement Benefits Obligation at Transition (11,831) (15,446) 3,615 Income (Loss) Before Income Taxes 136,570 70,773 65,796 Less: Income Taxes (Current) (1,291) 661 (1,953) Less: Income Taxes (Deferred) (2,093) (1,771) (321) Net Income (Loss) 139,955 71,883 68,071 0 Six Months Ended September 30, Millions of Yen Credit-related Expenses 2003 (232,158) 2002 (158,054) Variance (74,103) - 3 -

58 (d)ufj Bank Non-consolidated UFJ Holdings, Inc. (Table A-1-d) Six Months Ended September 30, Millions of Yen Variance Gross Operating Profit* 633, ,905 38,233 G.O.P. from Domestic Banking Business 499, ,880 32,908 Net Interest Income 325, ,577 (24,746) Fees and Commissions 68,844 43,642 25,202 Trading Revenue 1,215 6,429 (5,213) Other Operating Net Income 103,897 66,231 37,666 G.O.P. from International Banking Business 133, ,025 5,325 Net Interest Income 33,567 40,183 (6,616) Fees and Commissions 10,495 9, Trading Revenue 78,406 53,734 24,671 Other Operating Net Income 10,880 24,540 (13,659) Less: General and Administrative Expenses 244, ,792 (17,226) Personnel Expenses 91,612 96,992 (5,380) Non-personnel Expenses 140, ,165 (11,144) Tax Expenses 12,932 13,633 (701) Business Profit Before Net Transfer to General Reserve* 388, ,113 55,460 Excluding Gains and Losses on Bonds 280, ,832 37,729 Less: Net Transfer to General Reserve * (123,313) (26,534) (96,779) Business Profit (Gyomu Jun-eki)* 511, , ,239 Gains & Losses on Bonds 108,010 90,280 17,730 Other Income and Expenses (380,771) (312,050) (68,720) Gains & Losses on Stocks and Other Equity Securities (3,860) (91,612) 87,751 Gains on Sales 25,988 36,159 (10,171) Losses on Sales (21,849) (28,397) 6,548 Revaluation Losses (7,999) (99,374) 91,374 Credit Costs (334,899) (210,133) (124,766) Loans Written-off (131,317) (125,648) (5,668) Net Transfer to Specific Reserve (173,630) (51,559) (122,070) Losses on Sales of Loans to CCPC (168) (430) 262 Transfer to Reserve for Contingent Liabilities Related to Loans Sold (28) (8,573) 8,545 Losses on Loans Securitized/ Sold (10,981) (2,808) (8,172) Gains on Loans Securitized/ Sold 1,109 1,905 (795) Losses on Supporting Specific Borrowers (15,181) (13,813) (1,368) Transfer to Reserve for Possible Losses on Support of Specific Borrowers (5,700) (9,990) 4,290 Trasnfer to Specific Reserve for Loans to Refinancing Countries Special Business Tax Imposed on Banks (5,784) (9,863) 4,079 Ordinary Profit (Loss) (Keijo Rieki) 131,114 47,596 83,518 Extraordinary Gains and Losses 44,189 23,176 21,012 Gains & Losses on Sales of Premises and Equipment (9,366) (8,597) (769) Gains on Sales of Premises and Equipment (147) Losses on Sales of Premises and Equipment (9,486) (8,864) (621) Collection of Written-off Claims 7,669 25,544 (17,874) Gains on Establishment of Retirement Benefit Trusts 36,233 13,953 22,279 Tax Refund from the Tokyo Metropolitan Government 21,482-21,482 Amortization of Net Retirement Benefits Obligation at Transition (11,831) (15,446) 3,615 Income (Loss) Before Income Taxes 175,304 70, ,530 Less: Income Taxes (Current) (1,303) 661 (1,964) Less: Income Taxes (Deferred) (2,093) (1,771) (321) Net Income (Loss) 178,701 71, ,817 0 Credit-related Expenses (203,916) (158,054) (45,861) - 4 -

59 (e)ufj Trust Bank Non-consolidated (Table A-1-e) Six Months Ended September 30, Millions of Yen Variance Gross Operating Profit* 79,450 86,968 (7,517) G.O.P. from Domestic Banking Business 78,192 87,341 (9,149) Trust Fees (before write-off) 33,488 39,811 (6,323) Trust Related 13,161 16,008 (2,847) Jointly Operated Money Trusts/Loan Trusts 20,327 23,803 (3,476) Net Interest Income 16,312 20,420 (4,108) Fees and Commissions 24,213 21,626 2,587 Trading Revenue (38) Other Operating Net Income 4,023 5,289 (1,266) G.O.P. from International Banking Business 1,258 (373) 1,631 Trust Fees (before write-off) (3) Net Interest Income (23) Fees and Commissions (469) (567) 97 Trading Revenue Other Operating Net Income 525 (297) 822 Less: General and Administrative Expenses 39,446 41,636 (2,189) Personnel Expenses 15,650 15,864 (214) Non-personnel Expenses 22,517 24,157 (1,640) Tax Expenses 1,279 1,614 (335) Business Profit Before Net Transfer to General Reserve* 40,003 45,331 (5,328) Excluding Gains and Losses on Bonds 35,373 41,496 (6,123) Less: Net Transfer to General Reserve * Business Profit (Gyomu Jun-eki)* 40,003 45,331 (5,328) Gains & Losses on Bonds 4,630 3, Other Income and Expenses (20,863) (81,514) 60,651 Gains & Losses on Stocks and Other Equity Securities 1,291 (56,689) 57,981 Gains on Sales 9,325 3,133 6,192 Losses on Sales (6,105) (10,255) 4,150 Revaluation Losses (1,928) (49,567) 47,638 Credit Costs (Banking Account) (3,514) (12,459) 8,945 Loans Written-off (3,610) (8,899) 5,288 Net Transfer to Specific Reserve Losses on Sales of Loans to CCPC - 24 (24) Transfer to Reserve for Contingent Liabilities Related to Loans Sold - (11) 11 Losses on Loans Securitized/ Sold (115) (3,640) 3,525 Gains on Loans Securitized/ Sold Transfer to Reserve for Possible Losses on Support of Specific Borrowers Trasnfer to Specific Reserve for Loans to Refinancing Countries Credit Costs (Trust Account) (12,846) (12,740) (105) Loans Written-off (Equivalent) (6,684) (8,847) 2,163 Losses on Sales of Loans to CCPC (4,356) (3,102) (1,253) Losses on Sales of Loans (1,805) (789) (1,015) Trust Account Loss Indemnified Special Business Tax Imposed on Banks (500) (1,181) 681 Ordinary Profit (Loss) (Keijo Rieki) 19,140 (36,182) 55,322 Extraordinary Gains and Losses 10,485 22,961 (12,475) Gains & Losses on Sales of Premises and Equipment (1,688) (659) (1,028) Gains on Sales of Premises and Equipment - 27 (27) Losses on Sales of Premises and Equipment (1,688) (686) (1,001) Collection of Written-off Claims (169) Transfer to Reserve for Possible Losses on Support of Specific Borrowers 4,177 9,342 (5,165) Gains on Establishment of Retirement Benefit Trusts - 10,306 (10,306) Amortization of Net Retirement Benefits Obligation at Transition 4,653 3,475 1,178 Tax Refund from the Tokyo Metropolitan Government 4,209-4,209 Revaluation Losses on Premises to be sold (1,325) (1,325) - Income (Loss) Before Income Taxes 29,625 (13,221) 42,846 Less: Income Taxes (Current) (392) Less: Income Taxes (Deferred) 1,851 (18,379) 20,230 Net Income (Loss) 27,768 4,758 23,009 * Before Write-Offs in Trust Account Credit Related Expenses (11,725) (4,923) (6,801) Note: Credit Related Expenses = Net Transfer to Reserve for Possible Loan Losses + Credit Costs in Banking Account + Credit Costs in Trust Account + Trust Account Losses Indemnified 0 <Reference> Business Profit (After Write-offs in Trust Account) 27,157 32,591 (5,433) Gains & Losses on Bonds 4,630 3, Note: Business Profit = Business Profit before Write-offs (Credit Costs) in Trust Account t- Credit Costs in Trust Account UFJ Holdings, Inc

60 2. BUSINESS PROFIT PER EMPLOYEE (a)consolidated (Table A-2-a) Six Months Ended September 30, Billions of Yen Variance (1) Consolidated Business Profit Per Employee UFJ Holdings, Inc. (b)combined, UFJ Bank and UFJ Trust Bank Combined UFJ Bank Non-consolidated UFJ Trust Bank Non-consolidated (Table A-2-b) Six Months Ended September 30, Six Months Ended September 30, Six Months Ended September 30, Millions of Yen Variance Variance Variance (1) Business Profit Excluding Net Transfer to General Reserve 428, ,445 50, , ,113 55,460 40,003 45,331 (5,328) Per Employee (thousands of yen) 19,546 15,825 3,721 20,346 15,947 4,398 14,145 14,980 (835) (2) Business Profit Before Write-offs After Net Transfer to General Reserve ,003 45,331 (5,328) Per Employee (thousands of yen) ,145 14,980 (835) (3) Business Profit ('gyomu jun-eki') * 539, , , , , ,239 27,157 32,591 (5,433) Per Employee (thousands of yen) 24,584 16,402 8,182 26,803 17,217 9,585 9,603 10,770 (1,167) Note: Number of employees includes Executive Officers. 3. ROE (Consolidated) (Table A-3-a) Six Months Ended September 30, Variance ROE based on Net Income * 67.51% 13.21% % Combined UFJ Bank Non-consolidated UFJ Trust Bank Non-consolidated (Table A-3-b) Six Months Ended September 30, Six Months Ended September 30, Six Months Ended September 30, Variance Variance Variance (1) ROE based on Business Profit Before Write-offs After Net Transfer to General Reserve % 84.76% 5.11% (2) ROE based on Business Profit * % 70.29% 77.29% % 71.30% 88.30% 61.01% 60.94% 0.07% (3) ROE based on Net Income * 56.53% 12.79% 43.74% 55.71% 13.21% 42.50% 62.38% 8.89% 53.48% * ROE = (Business Profit ** (Net Income) - Dividends for Preferred Stock) Stockholders' Stockholders' Equity at Equity at end Beginning of Year of Year * Before Write-off in Trust Account No. of Shares of Preferred Stock at Beginning of Year No. of Shares - /2 - of Preferred - /2 Stock at end of Year Issue Price - 6 -

61 4. PROFIT MARGIN (DOMESTIC BANKING BUSINESS) (a) UFJ Bank Non-consolidated (Table A-4-a) Six Months Ended September 30, * Variance (1) Yield on Interest-earning Assets (A) 1.32 % 1.43 % (0.10) % Loans and Bills Discounted (C) 1.74 % 1.75 % (0.01) % Securities 0.53 % 0.77 % (0.24) % (2) Yield on Interest-bearing Liabilities (B) 0.80 % 0.92 % (0.11) % Deposits and Others (D) 0.89 % 0.98 % (0.09) % (I) Deposits 0.02 % 0.04 % (0.01) % (ii) Operating Expenses 0.86 % 0.93 % (0.07) % (3) Profit Margin of Funds (A)-(B) 0.51 % 0.50 % 0.01 % (4) Profit Margin between Loans and Deposits (C)-(D) 0.84 % 0.76 % 0.07 % * Aggregate of Sanwa Bank and Tokai Bank (b) UFJ Trust Bank Non-consolidated (Table A-4-b) Six Months Ended September 30, Variance Banking Account (1) Yield on Interest-earning Assets (A) 0.91 % 1.06 % (0.14) % Loans and Bills Discounted (C) 1.39 % 1.46 % (0.07) % Securities 0.48 % 0.65 % (0.17) % (2) Yield on Interest-bearing Liabilities (B) 0.30 % 0.40 % (0.09) % Deposits and Others (D) 0.20 % 0.30 % (0.10) % (3) Profit Margin of Funds (A)-(B) 0.61 % 0.65 % (0.04) % Domestic 3 Accounts: (1) Yield on Interest-earning Assets (A) 1.03 % 1.10 % (0.06) % (2) Yield on Interest-bearing Liabilities (B) 0.22 % 0.28 % (0.05) % (3) Profit Margin of Funds (A)-(B) 0.80 % 0.81 % (0.01) % Note: Aggregate of Banking account (Domestic) and Jointly Operated Designated Money Trusts Account and Loan Trust Account whose principal is indemnified UFJ Holdings, Inc

62 5. BOND RELATED GAINS AND LOSSES (a)combined (Table A-5-a) Six Months Ended September 30, Millions of Yen Variance UFJ Holdings, Inc. Gains and Losses on Bonds 112,641 94,115 18,525 Gains on Sales 174, ,355 57,792 Gains on Redemptions Losses on Sales (59,950) (10,413) (49,536) Losses on Redemptions (1,237) (4,798) 3,561 Revaluation Losses (423) (7,074) 6,650 (b) UFJ Bank Combined & Non-consolidated (Table A-5-b) UFJ Bank Combined Six Months Ended September 30, UFJ Bank Non-consolidated Six Months Ended September 30, Millions of Yen Variance Variance Gains and Losses on Bonds 108,010 90,280 17, ,010 90,280 17,730 Gains on Sales 168, ,599 63, , ,599 63,415 Gains on Redemptions Losses on Sales (58,761) (9,335) (49,426) (58,761) (9,335) (49,426) Losses on Redemptions (919) (4,623) 3,704 (919) (4,623) 3,704 Revaluation Losses (423) (363) (60) (423) (363) (60) (c) UFJ Trust Bank Non-consolidated (Table A-5-c) Six Months Ended September 30, Millions of Yen Variance Gains and Losses on Bonds 4,630 3, Gains on Sales 6,133 11,756 (5,622) Gains on Redemptions 3 43 (40) Losses on Sales (1,188) (1,078) (110) Losses on Redemptions (318) (174) (143) Revaluation Losses - (6,711) 6,

63 6. GAINS AND LOSSES ON STOCKS AND OTHER EQUITY SECURITIES (a)combined (Table A-6-a) Six Months Ended September 30, Millions of Yen Variance Gains and Losses on Securities 1,817 (148,301) 150,119 Gains on Sales 45,289 39,293 5,996 Losses on Sales (33,543) (38,653) 5,109 Revaluation Losses (9,928) (148,941) 139,013 <For reference> Book value of stocks sold Six Months Ended September 30, Billions of Yen Variance Book value of stocks sold UFJ Holdings, Inc. (b)ufj Bank Combined & Non-consolidated (Table A-6-b) UFJ Bank Combined UFJ Bank Non-cosolidated Six Months Ended September 30, Six Months Ended September 30, Millions of Yen Variance Variance Gains and Losses on Securities 525 (91,612) 92,137 (3,860) (91,612) 87,751 Gains on Sales 35,963 36,159 (196) 25,988 36,159 (10,171) Losses on Sales (27,438) (28,397) 959 (21,849) (28,397) 6,548 Revaluation Losses (7,999) (99,374) 91,374 (7,999) (99,374) 91,374 <For reference> Six Months Ended September 30, Six Months Ended September 30, Billions of Yen Variance Variance Book value of stocks sold (56.7) (c) UFJ Trust Bank Non-consolidated (Table A-6-c) Six Months Ended September 30, Millions of Yen Variance Gains and Losses on Securities 1,291 (56,689) 57,981 Gains on Sales 9,325 3,133 6,192 Losses on Sales (6,105) (10,255) 4,150 Revaluation Losses (1,928) (49,567) 47,638 <For reference> Six Months Ended September 30, Billions of Yen Variance Book value of stocks sold (0.7) - 9 -

64 7. UNREALIZED PROFITS/LOSSES ON SECURITIES <Reference> Methods to be applied to evaluate securities Trading Securities Fair Value Method Held-to-Maturity Securities Amortization/ Accumulation Method Stocks issued by Subsidiaries and Affiliates Cost Method Available-for-Sale Securities Fair Value Method UFJ Holdings, Inc. (a) Consolidated (Table A-7-a) Sept. 30, 2003 Mar. 31, 2003 Sept. 30, 2002 Book Market Unrealized Book Market Unrealized Book Market Unrealized Millions of Yen Value Value Net Profit Loss Value Value Net Profit Loss Value Value Net Profit Loss Held-to-Maturity debt securities 44,071 44, (32) 37,482 38,576 1,094 1,192 (97) 23,281 23, (49) Aggregate Market Unrealized Aggregate Market Unrealized Aggregate Market Unrealized Millions of Yen Cost Value Net Profit Loss Cost Value Net Profit Loss Cost Value Net Profit Loss Available-for-Sale Securities 19,057,807 19,284, , ,003 (302,424) 16,511,647 16,489,206 (22,441) 349,983 (372,424) 19,976,794 19,682,911 (293,883) 351,858 (645,741) (a) Bonds 14,378,935 14,252,671 (126,263) 27,207 (153,471) 10,848,239 11,001, , ,334 (3,499) 12,990,968 13,060,731 69,763 76,747 (6,983) (b) Stocks 2,209,777 2,552, , ,236 (120,301) 2,602,713 2,420,706 (182,006) 142,478 (324,484) 3,895,504 3,530,547 (364,957) 222,378 (587,336) (c) Others 2,469,094 2,479,002 9,907 38,559 (28,651) 3,060,694 3,067,424 6,729 51,170 (44,440) 3,090,321 3,091,632 1,310 52,732 (51,421) Notes: Figures include Securities, Negotiable Due from Banks under "Cach and Due from Banks" and Commodity Funds under Monetary Receivable Bought. (b) Combined (Table A-7-b) September 30, 2003 March 31, 2003 September 30, 2002 Book Market Unrealized Book Market Unrealized Book Market Unrealized Millions of Yen Value Value Net Profit Loss Value Value Net Profit Loss Value Value Net Profit Loss Held-to-Maturity debt securities Aggregate Market Unrealized Aggregate Market Unrealized Aggregate Market Unrealized Millions of Yen Cost Value Net Profit Loss Cost Value Net Profit Loss Cost Value Net Profit Loss Available-for-Sale Securities 18,481,318 18,704, , ,115 (297,994) 15,956,746 15,932,240 (24,505) 341,141 (365,647) 19,409,366 19,114,024 (295,341) 338,958 (634,300) (a) Bonds 14,159,461 14,034,055 (125,406) 25,792 (151,198) 10,655,334 10,806, , ,165 (3,190) 12,801,271 12,868,377 67,106 73,973 (6,867) (b) Stocks 2,184,524 2,523, , ,375 (119,174) 2,577,059 2,393,940 (183,119) 137,660 (320,779) 3,870,122 3,503,414 (366,708) 215,187 (581,896) (c) Others 2,137,332 2,146,659 9,326 36,947 (27,620) 2,724,351 2,731,989 7,637 49,315 (41,677) 2,737,972 2,742,233 4,260 49,797 (45,536) Notes: Figures include Securities, Negotiable Due from Banks under "Cach and Due from Banks" and Commodity Funds under Monetary Receivable Bought

65 (c) UFJ Bank Combined & Non-consolidated UFJ Holdings, Inc. (Table A-7-c) September 30, 2003 March 31, 2003 September 30, 2002 Book Market Unrealized Book Market Unrealized Book Market Unrealized Millions of Yen Value Value Net Profit Loss Value Value Net Profit Loss Value Value Net Profit Loss Held-to-Maturity debt securities Aggregate Market Unrealized Aggregate Market Unrealized Aggregate Market Unrealized Millions of Yen Cost Value Net Profit Loss Cost Value Net Profit Loss Cost Value Net Profit Loss Available-for-Sale Securities 16,615,218 16,880, , ,298 (192,408) 14,234,689 14,327,190 92, ,342 (230,841) 17,183,454 17,014,078 (169,376) 313,470 (482,846) (a) Bonds 12,778,341 12,684,246 (94,094) 25,315 (119,409) 9,477,009 9,628, , ,212 (353) 11,287,108 11,350,788 63,680 69,754 (6,074) (b) Stocks 1,782,842 2,114, , ,611 (63,831) 2,131,840 2,034,251 (97,589) 122,063 (219,652) 3,248,271 2,990,967 (257,303) 194,111 (451,414) (c) Others 2,054,035 2,081,239 27,204 36,371 (9,167) 2,625,838 2,664,070 38,231 49,067 (10,835) 2,648,074 2,672,321 24,246 49,604 (25,357) Notes: Figures include Securities, Negotiable Due from Banks under "Cach and Due from Banks" and Commodity Funds under Monetary Receivable Bought. UFJ Bank Combined UFJ Bank Non-consolidated (Table A-7-c) September 30, 2003 March 31, 2003 September 30, 2002 Book Market Unrealized Book Market Unrealized Book Market Unrealized Millions of Yen Value Value Net Profit Loss Value Value Net Profit Loss Value Value Net Profit Loss Held-to-Maturity debt securities Aggregate Market Unrealized Aggregate Market Unrealized Aggregate Market Unrealized Millions of Yen Cost Value Net Profit Loss Cost Value Net Profit Loss Cost Value Net Profit Loss Available-for-Sale Securities 16,263,331 16,466, , ,938 (190,792) 13,744,996 13,846, , ,805 (219,140) 17,183,454 17,014,078 (169,376) 313,470 (482,846) (a) Bonds 12,773,432 12,679,328 (94,104) 25,305 (119,409) 9,471,937 9,623, , ,181 (353) 11,287,108 11,350,788 63,680 69,754 (6,074) (b) Stocks 1,435,863 1,705, , ,261 (62,215) 1,647,220 1,558,825 (88,395) 119,556 (207,951) 3,248,271 2,990,967 (257,303) 194,111 (451,414) (c) Others 2,054,035 2,081,239 27,204 36,371 (9,167) 2,625,838 2,664,070 38,231 49,067 (10,835) 2,648,074 2,672,321 24,246 49,604 (25,357) (d) UFJ Trust Bank Non-consolidated (Table A-7-e) September 30, 2003 March 31, 2003 September 30, 2002 Book Market Unrealized Book Market Unrealized Book Market Unrealized Millions of Yen Value Value Net Profit Loss Value Value Net Profit Loss Value Value Net Profit Loss Held-to-Maturity debt securities Aggregate Market Unrealized Aggregate Market Unrealized Aggregate Market Unrealized Millions of Yen Cost Value Net Profit Loss Cost Value Net Profit Loss Cost Value Net Profit Loss Available-for-Sale Securities Total 1,866,099 1,824,331 (41,768) 63,817 (105,585) 1,722,056 1,605,050 (117,006) 17,798 (134,805) 2,225,912 2,099,946 (125,965) 25,488 (151,453) (a) Bonds 1,381,120 1,349,808 (31,311) 477 (31,789) 1,178,324 1,177,442 (882) 1,953 (2,836) 1,514,162 1,517,588 3,426 4,219 (793) (b) Stocks 401, ,102 7,420 62,763 (55,343) 445, ,689 (85,529) 15,596 (101,126) 621, ,446 (109,405) 21,076 (130,482) (c) Others 83,296 65,419 (17,877) 575 (18,453) 98,512 67,918 (30,594) 248 (30,842) 89,897 69,911 (19,986) 192 (20,178) Notes: Figures include Securities, Negotiable Due from Banks under "Cach and Due from Banks" and Commodity Funds under Monetary Receivable Bought

66 8. BIS RISK ADJUSTED CAPITAL RATIO (a)consolidated (Table A-8-a) September 30, March 31, September 30, Billions of yen 2003* 2003* 2002 (1) Capital Ratio % 9.96 % % (2) Tier I 2, , ,905.9 Unrealized Loss on Available-for-sale Securities - (64.7) (280.2) (3) Tier II (The amount included in Total Capital) 2, , ,591.2 (a)unrealized Profits on Available-for-sale Securities after 55% Discount (b)excess of Land Revaluation after 55% Discount (c) Subordinated Debts 1, , ,891.4 (d)general Reserve Sub total 2, , ,591.2 (4) Deducted Items (5) Total Capital (2)+(3)-(4) 5, , ,438.6 (6) Risk-Weighted Assets 45, , ,522.2 *Preliminary Announcement UFJ Holdings, Inc. (b)ufj Bank and UFJ Trust Bank UFJ Bank Consolidated UFJ Trust Bank Consolidated (Domestic Standard) (Table A-8-b) September 30, March 31, September 30, September 30, March 31, September 30, Billions of yen (1) Capital Ratio % % % % 7.54 % 9.60 % (2) Tier I 2, , , Unrealized Loss on Available-for-sale Securities - - (169.3) (39.8) (116.8) (108.6) (3) Tier II (The amount included in Total Capital) 2, , , (a)unrealized Profits on Available-for-sale Securities after 55% Discount (b)excess of Land Revaluation after 55% Discount (c) Subordinated Debts 1, , , (d)general Reserve Sub total 2, , , (4) Deducted Items (5) Total Capital (2)+(3)-(4) 4, , , (6) Risk-Weighted Assets 40, , , , , ,952.0 *Preliminary Announcement <Reference> UFJ Trust Bank Consolidated (International Standards) (1) Capital Ratio % 8.14 % % (2) Total Capital (2)+(3)-(4) (3) Risk-Weighted Assets 4, , ,

67 9. NUMBER OF PERSONNEL UFJ Holdings, Inc. (a) UFJ Holdings Non-consolidated September 30, March 31, September 30, (Table A-9-a) (1) Directors and Statutory Auditors (2) Executive Officers (b) Combined September 30, March 31, September 30, (Table A-9-b) (1) Directors and Statutory Auditors (2) Executive Officers (3) Other Employees 21,894 22,317 23,875 (c) UFJ Bank Non-consolidated September 30, March 31, September 30, (Table A-9-c) (1) Directors and Statutory Auditors (2) Executive Officers (3) Other Employees 19,075 19,425 20,859 (d) UFJ Trust Bank Non-consolidated September 30, March 31, September 30, (Table A-9-d) (1) Directors and Statutory Auditors (2) Executive Officers (3) Other Employees 2,819 2,892 3, NUMBER OF OUTLETS (a)combined (Table A-10-a) September 30, March 31, September 30, (1) Domestic Manned Outlets Domestic Branches Domestic Branches* (2) Overseas Bases** Overseas Branches (3) Total (b)ufj Bank and UFJ Trust Bank UFJ Bank Non-consolidated UFJ Trust Bank Non-consolidated (Table A-10-a) September 30, March 31, September 30, September 30, March 31, September 30, (1) Domestic Manned Outlets Domestic Branches Domestic Branches* (2) Overseas Bases** Overseas Branches (3) Total * The number excludes those specialized to maintain only designated accounts for transfers. ** The number includes overseas branches, sub-branches and representative offices

68 11. BUSINESS PROFIT BY DIVISION (UFJ Bank Non-consolidated) * UFJ Holdings, Inc. (Table A-11) Six Months Ended September 30, Billions of Yen 2003 ** 2002 Variance BP of Retail Banking Gross Operating Profit (0.4) Interest Income (1.9) Fees and Commissions Less: Expenses (11.7) BP of Corporate Banking Gross Operating Profit Interest Income (15.1) Fees and Commissions and Income Related to Foreign Exchange Less: Expenses (12.0) BP of Global Finance and Investment Banking Gross Operating Profit Trading Overseas Commercial Banking Less: Expenses (5.8) Subtotal of Business Profit Other Business Profit Business Profit Excluding Net Transfer to General Reserve (8.1) L ess: Net Transfer to General Reserve (123.3) (26.5) (96.8) Grand Total of Business Profit * Based on internal managerial accounting ** Preliminary announcement

69 12. Deferred Tax Assets UFJ Bank Non-consolidated UFJ Holdings, Inc. On the calculation of deferred tax assets, UFJ Bank (the "Bank") has verified collectability of deferred tax assets to comply with the JICPA (Japanese Institute of Certified Public Accountants) Auditing Committee Report No. 66 and JICPA President's Official Notice Concerning Bank Audits with careful regard to the future uncertainty. (1) Example category The Bank falls under the example category of Note 4 defined in the Auditing Committee Report No. 66. The Bank has posted taxable income every year in the past excluding the effect of extraordinary causes. The Bank, tehrefore, sets the estimation period of future taxable income as five years and posted deferred tax assets based on the result of scheduling of the resolution of temporary differences and other factores within the limit of the estimated amount of aggregate taxable income for that period. (2) Taxable Income in last five years (Table A-12-a) Billions of yen Mar. 31, 2003 Mar. 31, 2002 Mar. 31, 2001 Mar. 31, 2000 Mar. 31, 1999 Taxable income (Corporate tax declaration (1,597.5) (12.4) (161.8) Taxable income after consideration of extraordinary In Auditing Committee Report No. 66, JICPA defined extraordinary causes as Losses from restructuring of busienss operations or amendment of laws. The definition of "the expenses from extraordinary causes in banking business" by Japanese Bankers Association include the effects of amendment in accounting method of posting reserves for possible loan losses or loans written-off caused by introducing a new system or extraordinary and large amount of debt forgiveness caused by burst of bubble economy. Based on the above definitions, the Bank mainly takes following factors into consideration as losses caused by extraordinary causes; - Losses caused by merger of former Sanwa Bank and former Tokai Bank and restructuring of business operations - Losses associated with Special Inspection conducted by Financial Services Agency in the 2nd half of fiscal year Losses caused by law requiring banks to reduce their equity holdings proclaimed in November Losses caused by Government's Economic Measures announced in April, 2001 (including "2-Year/3-Year Rule" and "50%/80% Rule") - Extraordinary and large amount of losses from debt forgiveness and others caused by burst of bubble economy (3) Forcast of Future Taxable Income The Bank estimated 3,557.1 billion yen of taxable income before adjustments over next five years. (Table A-12-b) Billions of yen Business Profit before Net Transfer to General Reserve* 4,448.5 Income before Income Taxes* 3,024.2 Adjustment for Taxable Income** Taxable Income before Adjustments*** 3,557.1 Notes: * In the calculation process of business profit before net transfer to general reserve and income before income tax, the Bank primarily employed the figures in the Progress Report on Plan to Revitalize management, which the Bank submitted to the Financial Services Agency on September 19, 2003 after adjusting for the future uncertaingy in consideration of current environmental change and the results of the six months ended September 30, ** Adjustment for taxable income are estimated amount of necessary adjustment stipulated in corporation tax law. *** Taxable income bofore adjustments are taxable income before deduction of non-taxable amount in temporary difference. (4) Results of Scheduling (Table A-12-c) Billions of yen September 30, 2003 September 30, 2003 Future Deductible Temporary Difference Temporary Difference 2,795.8 Deferred Tax Assets*** 1,124.6 Reserve for Credit Losses* 1, Write-off of Securities** Reserve for Employee Retirement Benefits Others Loss Carryforwards 1, Future Taxable Temporary Difference (175.8) (71.2) Gain from Contribution of Securities to Employee Retirement Benefit Trust (142.7) (58.0) Others (33.1) (13.2) Net Unrealized Gain (Loss) on Available-for-sale Securities (219.1) (89.1) Total Temporary Difference 3, ,608.4 Temporary Difference, which cannot be scheduled (965.7) (392.5) Deferred Tax Assets 3, ,215.8 Notes: * Specific reserves for credit losses for 1 billion yen or more are scheduled based on the individual estimation and others are scheduled based on the historical data. ** Unrealized loss on available-for-sale securities (listed) for 0.5 billion yen or more are scheduled based on the individual estimation of market price and others are scheduled based on the historical data. *** Disclosure base in financial statemetns The Bank judged that the deferred tax assets of 3,019.8 billion yen is collectible for the reason that 3,557.1 billion yen of estimated taxable income before adjustments over next five years exceeded such amount. (5) Calculation process Deferred Tax Assets as of September 30, 2003 = (Temporary Difference - Temporary Difference, which cannot be scheduled) x Effective Tax Rate Effective Tax Rate: Fiscal Year ending March 31, 2004: 39.17% After Fiscal Year ending March 31, 2005: 40.65% Billions of yen Net Deferred Tax Assetss on Balance Sheets 1,215.8 Temporary Difference which cannot be scheduled (965.7 billion yen) multiplied by Effective Tax Rate (40.65%) is Valuation Allowance (392.5 billion yen)

70 12. Deferred Tax Assets UFJ Trust Bank Non-consolidated UFJ Holdings, Inc. On the calculation of deferred tax assets, UFJ Trust Bank ("UFJ Trust") has verified collectability of deferred tax assets to comply with the JICPA (Japanese Institute of Certified Public Accountants) Auditing Committee Report No. 66 and JICPA President's Official Notice Concerning Bank Audits with careful regard to the future uncertainty. (1) Example category UFJ Trust falls under the example category of Note 4 defined in the Auditing Committee Report No. 66. UFJ Trust has posted taxable income every year in the past excluding the effect of extraordinary causes. UFJ Trust, tehrefore, sets the estimation period of future taxable income as five years and posted deferred tax assets based on the result of scheduling of the resolution of temporary differences and other factores within the limit of the estimated amount of aggregate taxable income for that period. (2) Taxable Income in last five years (Table A-12-d) Billions of yen Mar. 31, 2003 Mar. 31, 2002 Mar. 31, 2001 Mar. 31, 2000 Mar. 31, 1999 Taxable income (Corporate tax declaration (181.4) 72.3 (60.0) (74.4) 25.3 Taxable income after consideration of extraordinary In Auditing Committee Report No. 66, JICPA defined extraordinary causes as Losses from restructuring of busienss operations or amendment of laws. The definition of "the expenses from extraordinary causes in banking business" by Japanese Bankers Association include the effects of amendment in accounting method of posting reserves for possible loan losses or loans written-off caused by introducing a new system or extraordinary and large amount of debt forgiveness caused by burst of bubble economy. Based on the above definitions, UFJ Trust mainly takes following factors into consideration as losses caused by extraordinary causes; - Losses caused by law requiring banks to reduce their equity holdings proclaimed in November Losses caused by Government's Economic Measures announced in April, 2001 (including "2-Year/3-Year Rule" and "50%/80% Rule") - Extraordinary and large amount of losses from debt forgiveness and others caused by burst of bubble economy (3) Forcast of Future Taxable Income UFJ Trust estimated billion yen of taxable income before adjustments over next five years. (Table A-12-e) Billions of yen Business Profit before Net Transfer to General Reserve* Income before Income Taxes* Adjustment for Taxable Income** Taxable Income before Adjustments*** Notes: * In the calculation process of business profit before net transfer to general reserve and income before income tax, UFJ Trust primarily employed the figures in the Progress Report on Plan to Revitalize management, which UFJ Trust submitted to the Financial Services Agency on September 19, 2003 after adjusting for the future uncertaingy in consideration of current environmental change and the results of the six months ended September 30, ** Adjustment for taxable income are estimated amount of necessary adjustment stipulated in corporation tax law. *** Taxable income bofore adjustments are taxable income before deduction of non-taxable amount in temporary difference. (4) Results of Scheduling (Table A-12-f) Billions of yen September 30, 2003 September 30, 2003 Future Deductible Temporary Difference Temporary Difference Deferred Tax Assets*** Reserve for Credit Losses* Write-off of Securities** Reserve for Employee Retirement Benefits Others Loss Carryforwards Future Taxable Temporary Difference (20.8) (8.4) Gain from Contribution of Securities to Employee Retirement Benefit Trust (19.2) (7.7) Others (1.6) (0.6) Net Unrealized Gain (Loss) on Available-for-sale Securities Total Temporary Difference Temporary Difference, which cannot be scheduled (139.0) (56.3) Deferred Tax Assets Notes: * Specific reserves for credit losses for 1 billion yen or more are scheduled based on the individual estimation and others are scheduled based on the historical data. ** Unrealized loss on available-for-sale securities (listed) are scheduled based on the plans of selling those securities. UFJ Trust judged that the deferred tax assets of billion yen is collectible for the reason that billion yen of estimated taxable income before adjustments over next five years exceeded such amount. (5) Calculation process Deferred Tax Assets as of September 30, 2003 = (Temporary Difference - Temporary Difference, which cannot be scheduled) x Effective Tax Rate Effective Tax Rate: Fiscal Year ending March 31, 2004: 39.0% After Fiscal Year ending March 31, 2005: 40.5% Billions of yen Net Deferred Tax Assetss on Balance Sheets Temporary Difference which cannot be scheduled (139.0 billion yen) multiplied by Effective Tax Rate (40.5%) is Valuation Allowance (56.3 billion yen)

71 UFJ Holdings, Inc. B. SUMMARY OF LOANS AND OTHER ASSETS/ LIABILITIES 1.RISK MONITORED LOANS (LOANS TO BANKRUPT COMPANIES, OTHER DELINQUENT LOANS, LOANS PAST DUE 3 MONTHS, AND RESTRUCTURED LOANS) (a) Consolidated (Table B-1-a) Millions of Yen Sept. 30, 2002 Loans to Bankrupt Companies 113, , ,384 Ratio to Total Loans Outstanding 0.26 % 0.32 % 0.38 % Other Delinquent Loans 1,573,749 1,607,226 2,317,975 Ratio to Total Loans Outstanding 3.70 % 3.55 % 5.16 % Loans Past Due 3 Months 85,377 69, ,043 Ratio to Total Loans Outstanding 0.20 % 0.15 % 0.24 % Restructured Loans 2,093,648 2,529,297 2,585,714 Ratio to Total Loans Outstanding 4.92 % 5.60 % 5.76 % Risk Monitored Loans 3,866,313 4,352,955 5,185,118 Ratio to Total Loans Outstanding 9.10 % 9.64 % % Total Loans Outstanding 42,478,748 45,151,530 44,883,802 (b) Combined (Table B-1-b) Millions of Yen Sept. 30, 2003 Mar. 31, 2003 Sept. 30, 2002 Loans to Bankrupt Companies 103, , ,493 Ratio to Total Loans Outstanding 0.25 % 0.30 % 0.36 % Other Delinquent Loans 1,459,972 1,491,715 2,174,029 Ratio to Total Loans Outstanding 3.54 % 3.39 % 4.96 % Loans Past Due 3 Months 77,933 62, ,353 Ratio to Total Loans Outstanding 0.18 % 0.14 % 0.22 % Restructured Loans 2,038,087 2,472,056 2,542,564 Ratio to Total Loans Outstanding 4.94 % 5.62 % 5.80 % Risk Monitored Loans 3,679,724 4,160,927 4,975,440 Ratio to Total Loans Outstanding 8.92 % 9.45 % % Total Loans Outstanding 41,226,078 43,985,084 43,778,889 (c) UFJ Bank Combined & Non-consolidated (Table B-1-c) Millions of Yen UFJ Bank Combined UFJ Bank Non-consolidated Sept. 30, 2003 Mar. 31, 2003 Sept. 30, 2002 Sept. 30, 2003 Mar. 31, 2003 Sept. 30, 2002 Loans to Bankrupt Companies 84, , ,583 61,145 73, ,583 Ratio to Total Loans Outstanding 0.22 % 0.27 % 0.32 % 0.16 % 0.18 % 0.32 % Other Delinquent Loans 1,400,443 1,410,349 2,072,208 1,297,721 1,244,637 2,072,208 Ratio to Total Loans Outstanding 3.75 % 3.52 % 5.22 % 3.49 % 3.13 % 5.22 % Loans Past Due 3 Months 75,422 60,457 96,234 71,775 58,497 96,234 Ratio to Total Loans Outstanding 0.20 % 0.15 % 0.24 % 0.19 % 0.14 % 0.24 % Restructured Loans 1,669,256 2,072,755 2,118,205 1,635,073 2,023,901 2,118,205 Ratio to Total Loans Outstanding 4.47 % 5.18 % 5.34 % 4.40 % 5.09 % 5.34 % Risk Monitored Loans 3,230,071 3,652,521 4,415,232 3,065,716 3,400,299 4,415,232 Ratio to Total Loans Outstanding 8.66 % 9.13 % % 8.25 % 8.56 % % Total Loans Outstanding 37,291,146 39,980,760 39,643,594 37,120,218 39,721,610 39,643,594 (d) UFJ Trust Bank Non-consoidated (Table B-1-d) Sept. 30, 2003 Mar. 31, 2003 Millions of Yen Banking and Trust Account Banking Account Trust Account Sept. 30, 2003 Mar. 31, 2003 Sept. 30, 2002 Sept. 30, 2003 Mar. 31, 2003 Sept. 30, 2002 Sept. 30, 2003 Mar. 31, 2003 Sept. 30, 2002 Loans to Bankrupt Companies 18,781 25,208 29,909 8,416 13,512 15,061 10,365 11,696 14,847 Ratio to Total Loans Outstanding 0.48 % 0.63 % 0.72 % 0.27 % 0.45 % 0.49 % 1.22 % 1.20 % 1.39 % Other Delinquent Loans 59,529 81, ,820 40,529 58,012 58,898 18,999 23,354 42,922 Ratio to Total Loans Outstanding 1.51 % 2.03 % 2.46 % 1.31 % 1.91 % 1.92 % 2.23 % 2.40 % 4.01 % Loans Past Due 3 Months 2,511 2,530 4,119 1,012 1,104 2,469 1,498 1,425 1,650 Ratio to Total Loans Outstanding 0.06 % 0.06 % 0.10 % 0.03 % 0.04 % 0.08 % 0.18 % 0.15 % 0.15 % Restructured Loans 368, , , , , ,241 22,407 42,275 50,117 Ratio to Total Loans Outstanding 9.37 % 9.97 % % % % % 2.63 % 4.35 % 4.68 % Risk Monitored Loans 449, , , , , ,670 53,270 78, ,537 Ratio to Total Loans Outstanding % % % % % % 6.26 % 8.09 % % Total Loans Outstanding 3,934,932 4,004,323 4,135,294 3,083,382 3,031,408 3,063, , ,915 1,071,

72 UFJ Holdings, Inc. 2.RESERVES FOR RISK MONITORED LOANS (a) Consolidated (Table B-2-a) Millions of Yen Sept. 30, 2002 General Reserve 921,979 1,040, ,372 Specific Reserve 496, , ,207 Specific Reserves for Loans to Refinancing Countries 2,418 3,693 4,076 Total of Reserves for Possible Loan Losses 1,420,508 1,674,377 1,517,656 Reserve for Possible Losses on Support of Specific Borrowers 5, ,990 Special Reserve for Loan Trusts & Reserve for Possible Impairment of Principal 5,857 6,939 10,211 Sub-Total (A) 1,432,065 1,681,316 1,687,857 Reserve Ratio for Risk Monitored Loans (A / B) % % % Reserve for Contingent Liabilities Related to Loans Sold 8,977 18,807 59,403 Risk Monitored Loans (B) 3,866,313 4,352,955 5,185,118 (b) Combined (Table B-2-b) Millions of Yen Sept. 30, 2003 Mar. 31, 2003 Sept. 30, 2002 General Reserve 874, , ,001 Specific Reserve 410, , ,482 Specific Reserves for Loans to Refinancing Countries 3,151 4,427 4,771 Total of Reserves for Possible Loan Losses 1,288,047 1,530,518 1,364,254 Reserve for Possible Losses on Support of Specific Borrowers 5, ,990 Special Reserve for Loan Trusts & Reserve for Possible Impairment of Principal 5,857 6,939 10,211 Sub-Total (C) 1,299,604 1,537,457 1,534,455 Reserve Ratio for Risk Monitored Loans (C / D) % % % Reserve for Contingent Liabilities Related to Loans Sold 8,333 13,635 52,498 Risk Monitored Loans (D) 3,679,724 4,160,927 4,975,440 (c) UFJ Bank Combined & Non-consolidated (Table B-2-c) Millions of Yen UFJ Bank Non-consoidated Sept. 30, 2003 Mar. 31, 2003 Sept. 30, 2002 General Reserve 752, , , , , ,460 Specific Reserve 399, , , , , ,157 Specific Reserves for Loans to Refinancing Countries 3,149 4,425 4,770 3,149 4,425 4,770 Total of Reserves for Possible Loan Losses 1,155,370 1,385,753 1,258,387 1,118,007 1,320,181 1,258,387 Reserve for Possible Losses on Support of Specific Borrowers 5, ,990 5, ,990 Sub-Total (C) 1,161,070 1,385,753 1,418,377 1,123,707 1,320,181 1,418,377 Reserve Ratio for Risk Monitored Loans (C / D) % % % % % % Reserve for Contingent Liabilities Related to Loans Sold 8,333 13,635 51,149 8,333 13,635 51,149 Risk Monitored Loans (D) 3,230,071 3,652,521 4,415,232 3,065,716 3,400,299 4,415,232 (d) UFJ Trust Bank (Table B-2-d) Sept. 30, 2003 Mar. 31, 2003 UFJ Bank Combined Sept. 30, 2003 Mar. 31, 2003 Sept. 30, 2002 Millions of Yen Banking and Trust Account Banking Account Trust Account Sept. 30, 2003 Mar. 31, 2003 Sept. 30, 2002 Sept. 30, 2003 Mar. 31, 2003 Sept. 30, 2002 Sept. 30, 2003Mar. 31, 2003 Sept. 30, 2002 General Reserve 122, ,668 91, , ,668 91, Specific Reserve 10,530 28,094 14,325 10,530 28,094 14, Specific Reserves for Loans to Refinancing Countries Total of Reserves for Possible Loan Losses 132, , , , , , Reserve for Possible Losses on Support of Specific Borrowers Special Reserve for Loan Trusts & Reserve for Possible Impairment of Principal 5,857 6,939 10, ,857 6,939 10,211 Sub-Total (C) 138, , , , , ,867 5,857 6,939 10,211 Reserve Ratio for Risk Monitored Loans (C / D) % % % % % % % 8.81 % 9.32 % Reserve for Contingent Liabilities Related to Loans Sold - - 1, , Risk Monitored Loans (D) 449, , , , , ,670 53,270 78, ,

73 UFJ Holdings, Inc. 3.PROBLEM LOANS (a) Combined (Table B-3-a) Millions of Yen Sept. 30, 2003 Mar. 31, 2003 Sept. 30, 2002 Bankrupt and Quasi-bankrupt 373, , ,604 Doubtful 1,218,090 1,208,019 1,893,062 Sub-standard 2,116,548 2,535,984 2,644,394 Total Problem Loans (A) 3,707,939 4,163,536 5,018,061 Claims which are not classified as Substandard claims on Sub-standard borrowers 792,060 1,119,878 1,037,757 Normal 41,838,192 43,834,321 43,086,794 Grand Total (B) 45,546,132 47,997,858 48,104,855 Problem Loan Ratio (A/B) 8.14% 8.67% 10.43% Amount of Partial Write-off 1,534,868 1,244,483 1,571,812 (b) UFJ Bank Combined & Non-consolidated (Table B-3-b) Millions of Yen UFJ Bank Combined UFJ Bank Non-consoidated Sept. 30, 2003 Mar. 31, 2003 Sept. 30, 2002 Sept. 30, 2003 Mar. 31, 2003 Sept. 30, 2002 Bankrupt and Quasi-bankrupt 336, , , , , ,896 Doubtful 1,176,861 1,161,004 1,829,884 1,110,928 1,031,240 1,829,884 Sub-standard 1,744,678 2,133,212 2,214,440 1,706,849 2,082,399 2,214,440 Total Problem Loans (A) 3,257,707 3,654,998 4,457,220 3,092,713 3,402,273 4,457,220 Claims which are not classified as Substandard Claims on Sub-standard Borrowers Normal 754,829 38,209,684 1,076,330 40,184, ,390 39,343, ,173 38,202,914 1,071,487 40,177, ,390 39,343,312 Grand Total (B) 41,467,391 43,839,686 43,800,532 41,295,627 43,579,437 43,800,532 Problem Loan Ratio (A/B) 7.85% 8.33% 10.17% 7.48% 7.80% 10.17% Amount of Partial Write-off 1,455,760 1,138,977 1,429,903 1,058, ,391 1,429,903 (c) UFJ Trust Bank Non-consolidated (Table B-3-c) Millions of Yen Banking and Trust Account Banking Account Trust Account Sept. 30, 2003 Mar. 31, 2003 Sept. 30, 2002 Sept. 30, 2003 Mar. 31, 2003 Sept. 30, 2002 Sept. 30, 2003Mar. 31, 2003Sept. 30, 2002 Bankrupt and Quasi-bankrupt 37,131 58,750 67,708 20,548 40,041 33,719 16,583 18,708 33,988 Doubtful 41,229 47,015 63,178 28,976 31,615 40,873 12,252 15,399 22,304 Sub-standard 371, , , , , ,710 24,434 44,643 53,243 Total Problem Loans (A) 450, , , , , ,303 53,270 78, ,537 Claims which are not classified as Substandard Claims on Sub-standard Borrowers 37,231 43,548 50,367 31,131 36,998 41,148 6,099 6,550 9,218 Normal 3,628,508 3,649,633 3,743,482 2,830,230 2,755,470 2,781, , , ,020 Grand Total (B) 4,078,741 4,158,172 4,304,323 3,227,191 3,185,257 3,232, , ,915 1,071,557 Problem Loan Ratio (A/B) 11.03% 12.22% 13.02% 12.30% 13.49% 13.96% 6.25% 8.09% 10.22% Amount of Partial Write-off 79, , ,909 79, , , <For reference> UFJ Hodings Consolidated Millions of Yen Sept. 30, 2003 Mar. 31, 2003 Sept. 30, 2002 Bankrupt and Quasi-bankrupt 443, , ,774 Doubtful 1,283,296 1,262,977 1,978,329 Sub-standard 2,179,554 2,599,538 2,695,234 Total Problem Loans 3,906,434 4,367,984 5,242,338 Amount of Partial Write-off 1,713,656 1,408,066 1,748,

74 4. COVERAGE FOR PROBLEM LOANS (a)combined (Table B-4-a) Millions of Yen Sept. 30, 2003 Mar. 31, 2003 Sept. 30, 2002 Claims on Substandard borrowers 2,908,609 3,655,863 3,682,151 Adjusted Problem Loans (A) 4,500,000 5,283,415 6,055,818 Reserves for Possible Loan Losses 988,972 1,247,414 1,110,343 Reserve for Possible Losses on Support of Specific Borrowers 5, ,990 Collateral and Guarantees 1,818,143 2,133,158 2,123,002 Total Coverage for Possible Loan Losses (B) 2,812,816 3,380,573 3,393,335 Coverage Ratio (B/A) % % % UFJ Holdings, Inc. Notes: Adjusted Problem Loans represent the sum of claims on Bankrupt and Quasi-bankrupt, Doubtful and Sub-standard borrowers. Difference between Grand Total of problem loans (see Table B-3) and Adjusted Problem Loans indicates that the "claims on Sub-standard borrowers" include "claims which are not classified as Sub-standard Claims." Since the coverage is calculated using "claims on Substandard borrowers" rather than "Sub-standard," the Bank considers such the method is accurate. "Coverage" represents coverage for Adjusted Problem Loans. The same method goes for UFJ Bank and UFJ Trust Bank (b)ufj Bank Combined & Non-consolidated (Table B-4-b) Millions of Yen UFJ Bank Non-consoidated Sept. 30, 2003 Mar. 31, 2003 Sept. 30, 2002 Sept. 30, 2003 Mar. 31, 2003 Sept. 30, 2002 Claims on Substandard borrowers 2,499,507 3,209,542 3,201,830 2,457,022 3,153,886 3,201,830 Adjusted Problem Loans (A) 4,012,536 4,731,328 5,444,610 3,842,886 4,473,760 5,444,610 Reserves for Possible Loan Losses 880,889 1,121,501 1,025, ,385 1,056,462 1,025,775 Reserve for Possible Losses on Support of Specific Borrowers 5, , ,990 Collateral and Guarantees 1,584,961 1,851,964 1,797,706 1,497,932 1,712,245 1,797,706 Total Coverage for Possible Loan Losses (B) 2,471,550 2,973,465 2,983,471 2,358,317 2,768,707 2,983,471 Coverage Ratio (B/A) % % % % % % (c) UFJ Trust Bank Non-consolidated (Table B-4-c) UFJ Bank Combined Banking and Trust Account Banking Account Millions of Yen Trust Account Sept. 30, 2003 Mar. 31, 2003 Sept. 30, 2002 Sept. 30, 2003 Mar. 31, 2003 Sept. 30, 2002 Sept. 30, 2003Mar. 31, 2003 Sept. 30, 2002 Claims on Substandard borrowers 409, , , , , ,859 30,534 51,194 62,462 Adjusted Problem Loans (A) 487, , , , , ,452 59,370 85, ,756 Reserves for Possible Loan Losses 108, ,913 84, , ,913 84, Reserve for Possible Losses on Support of Specific Borrowers Collateral and Guarantees 233, , , , , ,163 43,664 63,016 86,132 Total Coverage for Possible Loan Losses (B) 341, , , , , ,732 43,664 63,016 86,132 Coverage Ratio (B/A) % % % % % % % % %

75 5. COVERAGE RATIO FOR EACH CATEGORY (a) Combined (Table B-5-a) Sept. 30, 2003 Mar. 31, 2003 Sept. 30, 2002 Bankrupt and Quasi-bankrupt % % % Collateral and Guarantees % % % Reserves 4.62 % 7.00 % 9.97 % Reserve Ratio for Amount of Claims % % % Uncovered by Collateral and Guarantees Doubtful % % % Collateral and Guarantees % % % Reserves % % % Reserve Ratio for Amount of Claims % % % Uncovered by Collateral and Guarantees* Sub-standard ** % % % Collateral and Guarantees % % % Reserves % % % Reserve Ratio for Amount of Claims % % % Uncovered by Collateral and Guarantees* Reserve Ratio for "Sub-standard loans"*** % % % Reserve Ratio for Amount of Claims % % % Uncovered by Collateral and Guarantees Reserve Ratio for Special Mention Borrowers 5.50 % 4.53 % 3.16 % Reserve Ratio for Normal Borrowers 0.18 % 0.18 % 0.24 % UFJ Holdings, Inc. * Since the fiscal year ended March 31, 2003, the UFJ Group has adopted new reserve policy for claims classified under sub-standard and doubtful. The reserve for claims with the amount of 10 billion yen or more is provided by calculating the difference between the present value of expected future cash flows discounted by the loan s contractual interest rate and the carrying value of that claims. The reserve for claims other than the above is provided primarily based on the default rate, which is based on actual defaults over a certain historical period ** Coverage Ratios for the total amount of "claims on Sub-standard borrowers", including claims which are not classified as Sub-standard loans *** Estimated under certain conditions (allocated collateral, guarantees and reserve based on risk amount) (b) UFJ Bank Combined & Non-consolidated (Table B-5-b) UFJ Bank Combined UFJ Bank Non-consolidated Sept. 30, 2003 Mar. 31, 2003 Sept. 30, 2002 Sept. 30, 2003 Mar. 31, 2003 Sept. 30, 2002 Bankrupt and Quasi-bankrupt % % % % % % Collateral and Guarantees % % % % % % Reserves 5.10 % 4.06 % % 6.03 % 4.71 % % Reserve Ratio for Amount of Claims % % % % % % Uncovered by Collateral and Guarantees Doubtful % % % % % % Collateral and Guarantees % % % % % % Reserves % % % % % % Reserve Ratio for Amount of Claims % % % % % % Uncovered by Collateral and Guarantees* Sub-standard ** % % % % % % Collateral and Guarantees % % % % % % Reserves % % % % % % Reserve Ratio for Amount of Claims % % % % % % Uncovered by Collateral and Guarantees* Reserve Ratio for "Sub-standard loans"*** % % % % % % Reserve Ratio for Amount of Claims % % % % % % Uncovered by Collateral and Guarantees Reserve Ratio for Special Mention Borrowers 5.71 % 4.67 % 3.12 % 5.71 % 4.67 % 3.12 % Reserve Ratio for Normal Borrowers 0.17 % 0.18 % 0.24 % 0.17 % 0.18 % 0.24 % * Since the fiscal year ended March 31, 2003, the UFJ Group has adopted new reserve policy. The reserve for claims on debtors who are special mention and possible non-performing and whose claims are larger than 10 billion yen, is provided on the difference between the present value of expected future cash flows discounted at the loan s effective interest rate and the carrying value of that claimes. The reserve for claims on debtors other than the above is provided primarily based on the default rated, which is based on actual defaults over a certain historical period ** Coverage Ratios for the total amount of "claims on Sub-standard borrowers", including claims which are not classified as Sub-standard loans *** Estimated under certain conditions (allocated collateral, guarantees and reserve based on risk amount) (c) UFJ Trust Bank Non-consolidated (Table B-5-c) Banking and Trust Account Banking Account Trust Account Sept. 30, 2003 Mar. 31, 2003 Sept. 30, 2002 Sept. 30, 2003 Mar. 31, 2003 Sept. 30, 2002 Sept. 30, 2003 Mar. 31, 2003 Sept. 30, 2002 Bankrupt and Quasi-bankrupt % % % % % % % % % Collateral and Guarantees % % % % % % % % % Reserves*** 0.20 % % 0.13 % 0.37 % % 0.25 % - % - % - % Reserve Ratio for Amount of Claims % % % % % % - % - % - % Uncovered by Collateral and Guarantees Doubtful % % % % % % % % % Collateral and Guarantees % % % % % % % % % Reserves*** % % % % % % - % - % - % Reserve Ratio for Amount of Claims % % % % % % - % - % - % Uncovered by Collateral and Guarantees* Sub-standard ** % % % % % % % % % Collateral and Guarantees % % % % % % % % % Reserves*** % % % % % % - % - % - % Reserve Ratio for Amount of Claims % % % % % % - % - % - % Uncovered by Collateral and Guarantees* Reserve Ratio for "Sub-standard loans"**** % % % Reserve Ratio for Amount of Claims % % % Uncovered by Collateral and Guarantees Reserve Ratio for Special Mention Borrowers*** % 3.39 % 3.55 % - % - % - % Reserve Ratio for Normal Borrowers*** % 0.14 % 0.19 % - % - % - % * Since the fiscal year ended March 31, 2003, the UFJ Group has adopted new reserve policy. The reserve for claims on debtors who are special mention and possible non-performing and whose claims are larger than 10 billion yen, is provided on the difference between the present value of expected future cash flows discounted at the loan s effective interest rate and the carrying value of that claimes. The reserve for claims on debtors other than the above is provided primarily based on the default rated, which is based on actual defaults over a certain historical period ** Coverage Ratios for the total amount of "claims on Sub-standard borrowers", including claims which are not classified as Sub-standard loans *** Reserve ratios are not mentioned because of no reserve system for trust account. ****Estimated under certain conditions (allocated collateral, guarantees and reserve based on risk amount)

76 UFJ Holdings, Inc. 6. INDUSTRIAL CLASSIFICATIONS OF LOANS (a) Combined (Table B-6-a) Millions of Yen Sept. 30, 2003 Mar. 31, 2003 Sept. 30, 2002 Loans Risk Monitored Loans Risk Monitored Loans Risk Monitored Manufacturing 4,500, ,395 5,036, ,726 5,101, ,254 Coverage Ratio 76.99% 72.11% 69.49% Agriculture 52,844 4,953 55,847 5,059 60,797 5,369 Coverage Ratio 95.54% 93.45% 91.79% Forestry 4, , , Coverage Ratio 79.51% 71.17% 66.52% Fishing 18, , ,012 1,013 Coverage Ratio 85.58% 78.47% 81.10% Mining 69,031 2,261 83,558 1, ,460 3,135 Coverage Ratio 90.34% 99.90% 87.16% Construction 1,237, ,500 1,506, ,557 1,480, ,563 Coverage Ratio 46.39% 55.98% 52.91% Utilities 214, , , Coverage Ratio 91.20% 94.39% 97.50% Transportation & Communication 2,232, ,522 2,494, ,560 2,159, ,175 Coverage Ratio 43.60% 62.73% 46.62% Wholesale and Retail 4,960, ,356 5,365, ,300 5,809, ,651 Coverage Ratio 57.03% 52.85% 45.02% Finance and Insurance 3,939,147 62,938 4,632, ,466 3,503, ,051 Coverage Ratio 40.47% 31.02% 41.50% Real Estate 5,482,850 1,119,315 5,700,890 1,190,540 6,009,545 1,666,815 Coverage Ratio 62.59% 63.66% 58.04% Services 4,254, ,273 4,766, ,510 4,918, ,570 Coverage Ratio 58.59% 55.86% 58.01% Local Governments 640, , ,929 - Coverage Ratio Others 11,533, ,392 11,014, ,342 10,788, ,445 Coverage Ratio 76.84% 78.77% 78.50% Total Domestic 39,140,201 3,615,482 41,489,393 4,014,085 40,781,646 4,909,864 Coverage Ratio 59.67% 61.07% 57.10% Total Overseas and Offshore Coverage Ratio 2,135,824 64, % 2,533, , % 3,082,915 65, % Total Loans 41,276,026 3,679,724 44,022,688 4,160,927 43,864,562 4,975,440 Coverage Ratio 59.68% 61.44% 57.15% Coverage Ratio = (Collateral/ Guarantee + Specific Reserve + Reserve for Supporting Specific Borrowers) Risk Monitored Loans

77 UFJ Holdings, Inc. (b) UFJ Bank Combined & Non-consolidated (Table B-6-b) Millions of Yen UFJ Bank Combined UFJ Bank Non-consolidated Sept. 30, 2003 Mar. 31, 2003 Sept. 30, 2002 Sept. 30, 2003 Mar. 31, 2003 Sept. 30, 2002 Risk Monitored Risk Monitored Risk Monitored Risk Monitored Risk Monitored Risk Monitored Loans Loans Loans Loans Loans Loans Loans Loans Loans Loans Loans Loans Manufacturing 4,138, ,961 4,648, ,468 4,655, ,171 4,123, ,026 4,625, ,800 4,655, ,171 Coverage Ratio 76.61% 71.39% 68.31% 76.24% 70.37% 68.31% Agriculture 52,675 4,953 55,670 5,059 60,376 5,369 52,675 4,953 55,670 5,059 60,376 5,369 Coverage Ratio 95.54% 93.45% 91.79% 95.54% 93.45% 91.79% Forestry 4, , , , , , Coverage Ratio 78.92% 70.29% 77.81% 78.92% 70.29% 77.81% Fishing 16, , ,002 1,002 16, , ,002 1,002 Coverage Ratio 85.42% 78.21% 80.90% 85.16% 77.78% 80.90% Mining 64, , , , , , Coverage Ratio 99.79% 99.77% 99.87% % 99.77% 99.87% Construction 1,159, ,001 1,416, ,791 1,379, ,356 1,155, ,417 1,405, ,675 1,379, ,356 Coverage Ratio 46.28% 55.26% 54.18% 45.61% 54.27% 54.18% Utilities 67, , , , , , Coverage Ratio 91.21% 94.39% 97.50% 91.21% 94.39% 97.50% Transportation & Communication 1,781, ,592 2,036, ,838 1,736, ,112 1,779, ,367 2,033, ,353 1,736, ,112 Coverage Ratio 30.95% 59.84% 42.16% 30.35% 59.22% 42.16% Wholesale and Retail 4,671, ,714 5,063, ,664 5,440, ,480 4,661, ,858 5,048, ,023 5,440, ,480 Coverage Ratio 56.31% 51.29% 43.25% 55.84% 50.32% 43.25% Finance and Insurance 3,099,749 62,245 3,779, ,336 2,787, ,893 3,099,032 61,528 3,778, ,585 2,787, ,893 Coverage Ratio 40.90% 30.89% 41.23% 40.21% 30.57% 41.23% Real Estate 4,861, ,282 5,023, ,244 5,251,427 1,375,690 4,806, ,233 4,915, ,175 5,251,427 1,375,690 Coverage Ratio 60.27% 60.27% 55.85% 58.62% 57.95% 55.85% Services 3,929, ,143 4,399, ,661 4,448, ,502 3,856, ,914 4,315, ,775 4,448, ,502 Coverage Ratio 58.49% 54.61% 56.74% 57.58% 52.70% 56.74% Local Governments 633, , , , , ,117 - Coverage Ratio Others 10,676, ,515 10,278, ,878 10,033, ,582 10,667, ,003 10,265, ,522 10,033, ,582 Coverage Ratio 76.30% 78.13% 77.68% 76.13% 77.97% 77.68% Total Domestic 35,158,945 3,166,221 37,453,461 3,506,124 36,570,149 4,349,656 34,988,017 3,001,866 37,194,311 3,253,901 36,570,149 4,349,656 Coverage Ratio 58.09% 59.08% 55.70% 57.10% 57.72% 55.70% Total Overseas and Offshore 2,132,201 63,850 2,527, ,397 3,073,445 65,575 2,132,201 63,850 2,527, ,397 3,073,445 65,575 Coverage Ratio 59.56% 71.72% 60.98% 59.56% 71.72% 60.98% Total Loans 37,291,146 3,230,071 39,980,760 3,652,521 39,643,594 4,415,232 37,120,218 3,065,716 39,721,610 3,400,299 39,643,594 4,415,232 Coverage Ratio 58.12% 59.59% 55.78% 57.15% 58.33% 55.78% Coverage Ratio = (Collateral/ Guarantee + Specific Reserve + Reserve for Supporting Specific Borrowers) Risk Monitored Loans

78 UFJ Holdings, Inc. (c) UFJ Trust Bank Non-consolidated (Table B-6-c) Millions of Yen Banking & Trust Account Banking Account Trust Account Sept. 30, 2003 Mar. 31, 2003 Sept. 30, 2002 Sept. 30, 2003 Mar. 31, 2003 Sept. 30, 2002 Sept. 30, 2003 Mar. 31, 2003 Sept. 30, 2002 Risk Risk Risk Risk Risk Risk Risk Risk Risk Loans Monitored Loans Loans Monitored Loans Loans Monitored Loans Loans Monitored Loans Loans Monitored Loans Loans Monitored Loans Loans Monitored Loans Loans Monitored Loans Loans Monitored Loans Manufacturing 361,480 13, ,223 17, ,757 24, ,343 9, ,859 12, ,760 19,014 28,137 3,940 38,363 4,451 53,997 5,068 Coverage Ratio 84.70% 86.53% 90.93% 83.34% 85.45% 91.00% 88.24% 89.85% 90.68% Agriculture Coverage Ratio Forestry Coverage Ratio % % 11.19% % % 11.19% Fishing 2, , , ,000-2,000-2, Coverage Ratio % % % % % % Mining 4,349 2,009 5, ,359 2,407 3,563 1,722 3, ,872 1, , , Coverage Ratio 89.16% % 83.32% 89.97% % 73.59% 84.27% % % Construction 78,044 33,498 90,183 54, ,669 40,206 72,256 31,459 83,562 51,190 89,846 37,086 5,788 2,038 6,620 3,575 10,822 3,120 Coverage Ratio 47.49% 61.26% 41.44% 45.01% 61.30% 37.62% 85.73% 60.70% 86.90% Utilities 146, , ,405-58,208-49,840-47,373-88, , ,031 - Coverage Ratio Transportation & Communication 451,007 92, ,002 95, , , ,846 88, ,195 85, ,558 82,817 65,161 4,332 82,807 10, ,604 19,246 Coverage Ratio 71.34% 67.36% 54.01% 72.34% 69.30% 55.88% 55.42% 52.20% 46.17% Wholesale and Retail 289,662 23, ,453 28, ,659 33, ,545 16, ,693 19, ,156 22,268 59,116 7,155 63,759 8,723 70,503 10,901 Coverage Ratio 75.50% 83.55% 87.04% 66.57% 79.88% 85.12% 95.12% 91.60% 90.96% Finance and Insurance 839, ,699 1, ,553 2, , , , , , ,618 1,783 Coverage Ratio 2.49% 49.68% 57.16% 22.30% 86.17% 88.58% 1.66% 39.75% 50.76% Real Estate 620, , , , , , , , , , , , ,570 15, ,268 21, ,528 33,829 Coverage Ratio 70.61% 75.56% 67.78% 71.26% 76.04% 67.48% 61.47% 70.31% 70.14% Services 324,752 21, ,806 31, ,891 33, ,162 17, ,442 23, ,935 23,497 35,590 3,897 43,364 8,212 61,956 9,570 Coverage Ratio 60.76% 75.68% 79.92% 60.35% 77.24% 80.27% 62.50% 71.30% 79.08% Local Governments 6,395-5,429-1,812-6,395-5,429-1, Coverage Ratio Others 856,573 18, ,800 26, ,553 31, ,290 3, ,317 5, ,119 6, ,282 14, ,482 20, ,433 25,067 Coverage Ratio 84.55% 86.68% 87.81% 87.57% 96.46% 97.82% 83.80% 83.81% 85.03% Total Domestic 3,981, ,261 4,035, ,961 4,211, ,208 3,079, ,990 3,025, ,208 3,054, , ,496 53,270 1,010,519 78,752 1,157, ,537 Coverage Ratio 70.00% 73.71% 67.06% 69.50% 73.68% 65.74% 73.55% 73.87% 72.53% Total Overseas and Offshore 3, , ,470-3, , , Coverage Ratio 84.51% 85.62% % 85.62% Total Loans 3,984, ,653 4,041, ,406 4,220, ,208 3,083, ,382 3,031, ,653 3,063, , ,496 53,270 1,010,519 78,752 1,157, ,537 Coverage Ratio 70.01% 73.72% 67.06% 69.52% 73.69% 65.74% 73.55% 73.87% 72.53% Coverage Ratio = (Collateral/ Guarantee + Specific Reserve + Reserve for Supporting Specific Borrowers) Risk Monitored Loans

79 7. LOANS FOR CONSUMERS (a) Combined (Table B-7-a) Millions of Yen Sept. 30, 2003 Mar. 31, 2003 Sept. 30, 2002 Sub-total of Housing Loans 9,134,468 8,866,188 8,473,864 Balance before Securitization 9,155,021 8,889,430 8,499,566 "Housing Loans" 6,851,023 6,500,648 6,040,837 Balance before Securitization 6,871,576 6,523,890 6,066,539 "Apartment House Loans" 2,283,444 2,365,540 2,433,026 Balance before Securitization 2,283,444 2,365,540 2,433,026 Other Loans for Consumers 1,311,525 1,380,533 1,464,686 Balance before Securitization 1,311,525 1,380,533 1,464,686 Total Loans for Consumers 10,445,994 10,246,721 9,938,551 Balance before Securitization 10,466,547 10,269,963 9,964,253 (b) UFJ Bank Combined & Non-consolidated (Table B-7-b) Millions of Yen UFJ Bank Combined UFJ Bank Non-consolidated Sept. 30, 2003 Mar. 31, 2003 Sept. 30, 2002 Sept. 30, 2003 Mar. 31, 2003 Sept. 30, 2002 Sub-total of Housing Loans 8,432,052 8,117,745 7,689,012 8,431,150 8,116,839 7,689,012 Balance before Securitization 8,452,605 8,140,987 7,714,714 8,452,605 8,140,987 7,714,714 "Housing Loans" 6,721,011 6,359,206 5,890,032 6,720,983 6,359,179 5,890,032 Balance before Securitization 6,741,564 6,382,448 5,915,734 6,741,564 6,382,448 5,915,734 "Apartment House Loans" 1,711,041 1,758,539 1,798,979 1,710,167 1,757,660 1,798,979 Balance before Securitization 1,711,041 1,758,539 1,798,979 1,711,041 1,758,539 1,798,979 Other Loans for Consumers 1,288,426 1,355,075 1,436,885 1,285,434 1,350,333 1,436,885 Balance before Securitization 1,288,426 1,355,075 1,436,885 1,288,426 1,355,075 1,436,885 Total Loans for Consumers 9,720,478 9,472,820 9,125,898 9,716,584 9,467,172 9,125,898 Balance before Securitization of Housing Loans 9,741,031 9,496,062 9,151,600 9,741,031 9,496,062 9,151,600 UFJ Holdings, Inc. (c) UFJ Trust Bank Non-consolidated (Table B-7-c) Millions of Yen Banking and Trust Account Banking Account Trust Account Sept. 30, 2003 Mar. 31, 2003 Sept. 30, 2002 Sept. 30, 2003 Mar. 31, 2003 Sept. 30, 2002 Sept. 30, 2003 Mar. 31, 2003 Sept. 30, 2002 Sub-total of Housing Loans 702, , , , , , , , ,329 Balance before Securitization 702, , , , , , , , ,329 "Housing Loans" 130, , ,804 49,776 55,098 59,099 80,235 86,343 91,705 Balance before Securitization 130, , ,804 49,776 55,098 59,099 80,235 86,343 91,705 "Apartment House Loans" 572, , , , , , , , ,624 Balance before Securitization 572, , , , , , , , ,624 Other Loans for Consumers 23,099 25,458 27,801 17,522 18,978 20,265 5,577 6,479 7,536 Balance before Securitization 23,099 25,458 27,801 17,522 18,978 20,265 5,577 6,479 7,536 Total Loans for Consumers 725, , , , , , , , ,866 Balance before Securitization of Housing Loans 725, , , , , , , , , BALANCE AND RATIO OF LOANS TO SMALL-SIZED COMPANIES (a) Combined (Table B-8-a) Millions of Yen Sept. 30, 2003 Mar. 31, 2003 Loans to Small-Sized Companies 27,649,314 29,995,632 28,460,037 Ratio of Loans to Small-Sized Companies % % % Note: Calculated based on Bank of Japan report (excluding overseas transactions and Tokyo special offshore accounts [International Banking Facility] ) (b) UFJ Bank Combined & Non-consolidated (Table B-8-b) Millions of Yen UFJ Bank Non-consolidated Sept. 30, 2003 Mar. 31, 2003 Sept. 30, 2002 Sept. 30, 2003 Mar. 31, 2003 Sept. 30, 2002 Loans to Small-Sized Companies 25,607,669 27,833,590 26,370,854 25,464,069 27,607,500 26,370,854 Ratio of Loans to Small-Sized Companies % % % % % % Note: Calculated based on Bank of Japan report (excluding overseas transactions and Tokyo special offshore accounts [International Banking Facility] ) (c) UFJ Trust Bank Non-consolidated (Table B-8-c) UFJ Bank Combined Sept. 30, 2002 Millions of Yen Banking and Trust Account Banking Account Trust Account Sept. 30, 2003 Mar. 31, 2003 Sept. 30, 2002 Sept. 30, 2003 Mar. 31, 2003 Sept. 30, 2002 Sept. 30, 2003 Mar. 31, 2003 Sept. 30, 2002 Loans to Small-Sized Companies 2,041,645 2,162,042 2,089,183 1,397,406 1,487,219 1,357, , , ,112 Ratio of Loans to Small-Sized Companies % % % % % % % % % Note: Calculated based on Bank of Japan report (excluding overseas transactions and Tokyo special offshore accounts [International Banking Facility] )

80 UFJ Holdings, Inc. 9. BALANCE OF LOANS AND DEPOSITS (a) Combined (Table B-9-a) Deposits & Outstanding Balance Trust Principal Average Balance Loans Outstanding Balance Average Balance Millions of Yen Sept. 30, 2003 Mar. 31, 2003 Sept. 30, ,237,647 52,364,520 51,205,228 51,436,720 51,032,726 51,816,533 41,226,078 43,985,084 43,778,889 41,234,202 43,934,304 44,929,954 (b) UFJ Bank Combined & Non-consolidated (Table B-9-b) Millions of Yen UFJ Bank Combined UFJ Bank Non-consolidated Sept. 30, 2003 Mar. 31, 2003 Sept. 30, 2002 Sept. 30, 2003 Mar. 31, 2003 Sept. 30, 2002 Deposits Outstanding Balance Average Balance 46,964,038 46,248,938 47,039,365 45,573,104 45,876,779 46,195,909 46,964,038 46,248,938 47,039,365 45,573,104 45,876,779 46,195,909 Loans Outstanding Balance Average Balance 37,291,146 37,447,840 39,980,760 39,699,110 39,643,594 40,484,647 37,120,218 37,205,728 39,721,610 39,693,344 39,643,594 40,484,647 (c) UFJ Trust Bank Non-consolidated (Table B-9-c) Millions of Yen Banking & Trust Account Banking Account Trust Account Sept. 30, 2003 Mar. 31, 2003 Sept. 30, 2002 Sept. 30, 2003 Mar. 31, 2003 Sept. 30, 2002 Sept. 30, 2003 Mar. 31, 2003 Sept. 30, 2002 Deposits & Outstanding Balance 5,273,608 5,325,154 5,328,448 3,242,495 3,319,039 3,159,357 2,031,113 2,006,115 2,169,091 Trust Principal Average Balance 5,187,781 5,459,622 5,620,623 3,269,202 3,237,259 3,190,462 1,918,579 2,222,362 2,430,160 Loans Outstanding Balance Average Balance 3,934,932 3,786,362 4,004,323 4,235,194 4,135,294 4,445,306 3,083,382 2,860,052 3,031,408 3,128,782 3,063,737 3,284, , , ,915 1,106,411 1,071,557 1,160,720 <For reference> (d) Balance of Deposits for Individuals & Corporations (Table B-9-d) Millions of Yen Combined UFJ Bank Combined UFJ Trust Bank Non-consoidated Domestic Individual Deposits Demand Deposits Time Deposits Domestic Corporate Deposits Demand Deposits Time Deposits Other Domestic Deposits Demand Deposits Time Deposits Trust Principal Domestic Individuals Domestic Corporations Sept. 30, 2003 Mar. 31, 2003 Sept. 30, 2002 Sept. 30, 2003 Mar. 31, 2003 Sept. 30, 2002 Sept. 30, 2003 Mar. 31, 2003 Sept. 30, ,559,166 26,582,434 26,673,149 24,347,445 24,254,761 24,364,224 2,211,721 2,327,673 2,308,925 14,443,585 14,178,049 13,642,569 14,054,463 13,781,495 13,267, , , ,590 11,644,413 12,032,059 12,691,276 9,830,181 10,110,532 10,767,470 1,814,232 1,921,527 1,923,806 17,509,210 17,680,215 15,857,628 16,534,353 16,832,998 15,060, , , ,104 12,308,980 12,590,048 10,531,335 11,837,967 12,184,413 10,180, , , ,851 4,151,586 4,092,509 4,279,266 3,663,163 3,659,853 3,854, , , ,295 3,552,799 2,997,972 2,613,984 3,501,397 2,858,892 2,566,195 51, ,080 47,789 1,769,254 1,484,191 1,225,550 1,760,412 1,475,377 1,211,165 8,842 8,814 14, , , , , , ,101 37, ,425 27,431 2,031,113 2,006,115 2,169, ,031,113 2,006,115 2,169, ,489 1,125,317 1,320, ,489 1,125,317 1,320,104 1,058, , , ,058, , ,987 Other Domestic Deposits include deposits of local governments and other financial institutions. Calculated based on Bank of Japan report (excluding overseas transactions and International Banking Facility for UFJ Bank, overseas transaction and Tokyo special offshore for UFJ Trust Bank)

81 10. OFF-BALANCING OF PROBLEM LOANS (Banking and Trust Account) UFJ Holdings, Inc. (1) Outstanding before First Fiscal Half Ended September 30, 2000 (a) Loans Outstanding Classfied as "Doubtful" and "Bankrupt and Quasi-Bankrupt" I. Combined (Table B-10-a) Billions of yen Sept.30, 2000 Sept. 30, 2003 Mar. 31, 2003 Sept. 30, 2002 Mar. 31, 2002 Sept.30, 2001 Mar. 31, 2001 Bankrupt and Quasi-Bankrupt Doubtful ,304.6 Total , ,968.0 Ratio of Off-Balancing: 91.7 % Notes: Outstanding amount on Sept. 30, 2003 includes loans under the process of measures to remove loans from Balance Sheet: billion yen Total after excluding above amount 55.0 (A) Ratio of Off-Balancing: 97.2 % II. UFJ Bank Combined (Table B-10-b) Billions of yen Sept. 30, 2003 Mar. 31, 2003 Sept. 30, 2002 Mar. 31, 2002 Sept.30, 2001 Mar. 31, 2001 Sept.30, 2000 Bankrupt and Quasi-Bankrupt Doubtful ,108.6 Total , ,647.9 Ratio of Off-Balancing: 91.5 % Notes: Outstanding amount on Sept. 30, 2003 includes loans under the process of measures to remove loans from Balance Sheet: 84.2 billion yen Total after excluding above amount 55.0 (B) Ratio of Off-Balancing: 96.7 % III. UFJ Trust Bank (Table B-10-b) Billions of yen Sept.30, 2000 Sept. 30, 2003 Mar. 31, 2003 Sept. 30, 2002 Mar. 31, 2002 Sept.30, 2001 Mar. 31, 2001 Bankrupt and Quasi-Bankrupt Doubtful Total Ratio of Off-Balancing: 92.2 % Notes: Outstanding amount on Sept. 30, 2003 includes loans under the process of measures to remove loans from Balance Sheet: 24.9 billion yen Total after excluding above amount - (C) Ratio of Off-Balancing: % (b) Off-Balancing (Table B-10-c) Billions of yen Off-Balancing Amounts During 1st Fiscal Half Ended Sept. 30, 2003 Combined UFJ Bank UFJ Trust Bank Liquidation Reorganization Improved business condition concurrent with reorganization Securitization Write-offs (60.9) (30.6) (30.2) Others Collection, repayment Improved business Total

82 (2) Outstanding in Second Fiscal Half Ended March 31, 2001 (a)loans Outstanding Classfied as "Doubtful" and "Bankrupt and Quasi-Bankrupt" I. Combined (Table B-10-a) Billions of yen Sept. 30, 2003 Mar. 31, 2003 Sept. 30, 2002 Mar. 31, 2002 Sept.30, 2001 Bankrupt and Quasi-Bankrupt Doubtful Total Ratio of Off-Balancing: 90.3 % UFJ Holdings, Inc. Notes: Outstanding amount on Sept. 30, 2003 includes loans under the process of measures to remove loans from Balance Sheet: 13.6 billion yen Total after excluding above amount 40.4 (A) Ratio of Off-Balancing: 92.7 % II. UFJ Bank Combined (Table B-10-b) Billions of yen Sept. 30, 2003 Mar. 31, 2003 Sept. 30, 2002 Mar. 31, 2002 Sept.30, 2001 Mar. 31, 2001 Bankrupt and Quasi-Bankrupt Doubtful Total Ratio of Off-Balancing: 90.9 % Notes: Outstanding amount on Sept. 30, 2003 includes loans under the process of measures to remove loans from Balance Sheet: 11.5 billion yen Total after excluding above amount 33.7 (B) Ratio of Off-Balancing: 93.2 % III. UFJ Trust Bank (Table B-10-b) Billions of yen Sept. 30, 2003 Mar. 31, 2003 Sept. 30, 2002 Mar. 31, 2002 Sept.30, 2001 Mar. 31, 2001 Bankrupt and Quasi-Bankrupt Doubtful Total Ratio of Off-Balancing: 84.9 % Notes: Outstanding amount on Sept. 30, 2003 includes loans under the process of measures to remove loans from Balance Sheet: 2.0 billion yen Total after excluding above amount 6.7 (C) Ratio of Off-Balancing: 88.5 % (b) Off-Balancing (Table B-10-c) Billions of yen Off-Balancing Amounts During 1st Fiscal Half Ended Sept. 30, 2003 Combined UFJ Bank UFJ Trust Bank Liquidation Reorganization Improved business condition concurrent with reorganization Securitization Write-offs (14.8) 2.2 (17.1) Others Collection, repayment Improved business Total Mar. 31,

83 UFJ Holdings, Inc. (3) Outstanding in First Fiscal Half Ended September 30, 2001 (a) Loans Outstanding Classfied as "Doubtful" and "Bankrupt and Quasi-Bankrupt" I. Combined (Table B-10-a) Billions of yen Sept. 30, 2003 Mar. 31, 2003 Sept. 30, 2002 Mar. 31, 2002 Sept.30, 2001 Bankrupt and Quasi-Bankrupt Doubtful Total Ratio of Off-Balancing: 85.0 % Notes: Outstanding amount on Sept. 30, 2003 includes loans under the process of measures to remove loans from Balance Sheet: 14.8 billion yen Total after excluding above amount 65.5 (A) Ratio of Off-Balancing: 87.7 % II. UFJ Bank Combined (Table B-10-b) Billions of yen Sept. 30, 2003 Mar. 31, 2003 Sept. 30, 2002 Mar. 31, 2002 Sept.30, 2001 Bankrupt and Quasi-Bankrupt Doubtful Total Ratio of Off-Balancing: 84.0 % Notes: Outstanding amount on Sept. 30, 2003 includes loans under the process of measures to remove loans from Balance Sheet: 14.2 billion yen Total after excluding above amount 63.7 (B) Ratio of Off-Balancing: 86.9 % III. UFJ Trust Bank (Table B-10-b) Billions of yen Sept. 30, 2003 Mar. 31, 2003 Sept. 30, 2002 Mar. 31, 2002 Sept.30, 2001 Bankrupt and Quasi-Bankrupt Doubtful Total Ratio of Off-Balancing: 95.2 % Notes: Outstanding amount on Sept. 30, 2003 includes loans under the process of measures to remove loans from Balance Sheet: 0.5 billion yen Total after excluding above amount 1.7 (C) Ratio of Off-Balancing: 96.2 % (b) Off-Balancing (Table B-10-c) Billions of yen Off-Balancing Amounts During 1st Fiscal Half Ended Sept. 30, 2003 Combined UFJ Bank UFJ Trust Bank Liquidation Reorganization Improved business condition concurrent with reorganization Securitization Write-offs (1.8) Others Collection, repayment Improved business Total

84 (4) Outstanding in Second Fiscal Half Ended March 31, 2002 (a) Loans Outstanding Classfied as "Doubtful" and "Bankrupt and Quasi-Bankrupt" I. Combined (Table B-10-a) Billions of yen UFJ Holdings, Inc. Sept. 30, 2003 Mar. 31, 2003 Sept. 30, 2002 Mar. 31, 2002 Bankrupt and Quasi-Bankrupt Doubtful , ,083.8 Total , ,174.3 Ratio of Off-Balancing: 89.1 % Notes: Outstanding amount on Sept. 30, 2003 includes loans under the process of measures to remove loans from Balance Sheet: 23.5 billion yen Total after excluding above amount (A) Ratio of Off-Balancing: 90.2 % II. UFJ Bank Combined (Table B-10-b) Billions of yen Sept. 30, 2003 Mar. 31, 2003 Sept. 30, 2002 Mar. 31, 2002 Bankrupt and Quasi-Bankrupt Doubtful , ,914.6 Total , ,993.3 Ratio of Off-Balancing: 88.6 % Notes: Outstanding amount on Sept. 30, 2003 includes loans under the process of measures to remove loans from Balance Sheet: 23.0 billion yen Total after excluding above amount (B) Ratio of Off-Balancing: 89.8 % III. UFJ Trust Bank (Table B-10-b) Billions of yen Sept. 30, 2003 Mar. 31, 2003 Sept. 30, 2002 Mar. 31, 2002 Bankrupt and Quasi-Bankrupt Doubtful Total Ratio of Off-Balancing: 94.0 % Notes: Outstanding amount on Sept. 30, 2003 includes loans under the process of measures to remove loans from Balance Sheet: 0.4 billion yen Total after excluding above amount 10.4 (C) Ratio of Off-Balancing: 94.2 % (b) Off-Balancing (Table B-10-c) Billions of yen Off-Balancing Amounts During 1st Fiscal Half Ended Sept. 30, 2003 Liquidation Reorganization Improved business condition concurrent with reorganization Combined UFJ Bank UFJ Trust Bank Securitization Write-offs (4.7) Others Collection, repayment Improved business Total

85 UFJ Holdings, Inc. (5) Outstanding in First Fiscal Half Ended September 30, 2002 (a)loans Outstanding Classfied as "Doubtful" and "Bankrupt and Quasi-Bankrupt" I. Combined (Table B-10-a) Billions of yen Sept. 30, 2003 Mar. 31, 2003 Sept. 30, 2002 Bankrupt and Quasi-Bankrupt Doubtful Total Ratio of Off-Balancing: 56.8 % Notes: Outstanding amount on Sept. 30, 2003 includes loans under the process of measures to remove loans from Balance Sheet: 19.2 billion yen Total after excluding above amount 90.3 (A) Ratio of Off-Balancing: 64.4 % II. UFJ Bank Combined (Table B-10-b) Billions of yen Sept. 30, 2003 Mar. 31, 2003 Sept. 30, 2002 Bankrupt and Quasi-Bankrupt Doubtful Total Ratio of Off-Balancing: 56.4 % Notes: Outstanding amount on Sept. 30, 2003 includes loans under the process of measures to remove loans from Balance Sheet: 18.8 billion yen Total after excluding above amount 89.0 (B) Ratio of Off-Balancing: 64.0 % III. UFJ Trust Bank (Table B-10-b) Billions of yen Sept. 30, 2002 Sept. 30, 2003 Mar. 31, 2003 Bankrupt and Quasi-Bankrupt Doubtful Total Ratio of Off-Balancing: 73.2 % Notes: Outstanding amount on Sept. 30, 2003 includes loans under the process of measures to remove loans from Balance Sheet: 0.3 billion yen Total after excluding above amount 1.2 (C) Ratio of Off-Balancing: 78.7 % (b)off-balancing (Table B-10-c) Billions of yen Off-Balancing Amounts During 1st Fiscal Half Ended Sept. 30, 2003 Liquidation Reorganization Improved business condition concurrent with reorganization Combined UFJ Bank UFJ Trust Bank Securitization Write-offs (0.4) Others Collection, repayment Improved business Total

86 UFJ Holdings, Inc. (6) Outstanding in Second Fiscal Half Ended March 31, 2003 (a)loans Outstanding Classfied as "Doubtful" and "Bankrupt and Quasi-Bankrupt" I. Combined (Table B-10-a) Billions of yen Sept. 30, 2003 Mar. 31, 2003 Bankrupt and Quasi-Bankrupt Doubtful Total Ratio of Off-Balancing: 54.7 % Notes: Outstanding amount on Sept. 30, 2003 includes loans under the process of measures to remove loans from Balance Sheet: 19.6 billion yen Total after excluding above amount (A) Ratio of Off-Balancing: 58.9 % II. UFJ Bank Combined (Table B-10-b) Billions of yen Sept. 30, 2003 Mar. 31, 2003 Bankrupt and Quasi-Bankrupt Doubtful Total Ratio of Off-Balancing: 54.1 % Notes: Outstanding amount on Sept. 30, 2003 includes loans under the process of measures to remove loans from Balance Sheet: 17.3 billion yen Total after excluding above amount (B) Ratio of Off-Balancing: 58.0 % III. UFJ Trust Bank (Table B-10-b) Billions of yen Sept. 30, 2003 Mar. 31, 2003 Bankrupt and Quasi-Bankrupt Doubtful Total Ratio of Off-Balancing: 62.6 % Notes: Outstanding amount on Sept. 30, 2003 includes loans under the process of measures to remove loans from Balance Sheet: 2.2 billion yen Total after excluding above amount 11.4 (C) Ratio of Off-Balancing: 68.9 % (b)off-balancing (Table B-10-c) Billions of yen Off-Balancing Amounts During 1st Fiscal Half Ended Sept. 30, 2003 Combined UFJ Bank UFJ Trust Bank Liquidation Reorganization Improved business condition concurrent with reorganization Securitization Write-offs Others Collection, repayment Improved business Total

87 UFJ Holdings, Inc. (7) Outstanding in First Fiscal Half Ended September 30, 2003 Loans Outstanding Classified as "Doubtful" or "Bankrupt and Quasi-Bankrupt" (Table B-10-p) Billions of yen UFJ Bank Combined Combined UFJ Trust Bank Sept. 30, 2003 Sept. 30, 2003 Sept. 30, 2003 Bankrupt and Quasi-Bankrupt Doubtful Total Notes: Outstanding amount on Mar. 31, 2003 includes loans under the process of measures to remove loans from Balance Sheet: 36.9 billion yen (UFJ Bank Combined 33.8 billion yen and UFJ Trust Bank 3.1 billion yen) (b)off-balancing (Table B-10-q) Billions of yen Off-Balancing Amounts During 1st Fiscal Half Ended Sept. 30, 2003 Combined UFJ Bank Combined UFJ Trust Bank Liquidation Reorganization Improved business condition concurrent with reorganization Securitization Write-offs Others Collection, repayment Improved business Total

88 Loans Outstanding classified as "Doubtful" or "Bankrupt and Quasi-Bankrupt" UFJ Holdings, Inc. I. Combined (Table B-10-r) Billions of yen Sept. 30, 2003 Sept. 30, 2002 Mar. 31, 2002 Bankrupt and Quasi-Bankrupt Doubtful 1, , , , , , ,304.6 Total 1, , , , , , ,968.0 Total after excluding loans under the process of measures to remove loans from balance sheet 1,354.4 II. UFJ Bank Combined (Table B-10-s) Billions of yen Sept. 30, 2003 Mar. 31, 2003 Sept. 30, 2002 Mar. 31, 2002 Sept. 30, 2001 Mar. 31, 2001 Bankrupt and Quasi-Bankrupt Doubtful 1, , , , , ,108.6 Total 1, , , , , , ,647.9 Total after excluding loans under the process of measures to remove loans from balance sheet 1,309.7 III. UFJ Trust Bank (Table B-10-s) Mar. 31, 2003 Sept. 30, 2001 Mar. 31, 2001 Sept. 30, 2000 Billions of yen Sept. 30, 2003 Mar. 31, 2003 Sept. 30, 2002 Mar. 31, 2002 Sept. 30, 2001 Mar. 31, 2001 Sept. 30, 2000 Bankrupt and Quasi-Bankrupt Doubtful Total Total after excluding loans under the process of measures to remove loans from balance sheet 44.6 Sept. 30, 2000 Notes: Measures to Remove Loans from Balance Sheet Details of the measures are as follows; (1) Legal Proceedings Loans under procedure of bankruptcy, liquidation(including special liquidation), corporate winding-up, corporate rehabilitation, civil rehabilitation, or loans to the borrowers under the suspension of transaction with banks (2) Quasi-Legal Proceedings Loans under conciliation (inclunding special conciliation), legal procedures such as compromise which is made in and authorized by the court, or during the period of reimbursement plan based on the above procedures (3) Corporate Split to "Good Company" and "Bad Company" After split-ups, bad company should be liquidated promptly (within three years) (4) Implementation of charge-off to small- sized loans to individuals or small- and medium- sized enterprises (5) Trust to the Resolution and Collection Corportion (RCC), which meets the following requirements Corporate revival with involvement of RCC should be the purpose of trust By the end of trust period, entrusted loans should be upgraded or disposed through corporate revival or sales of loans

89 C. FORECAST FOR FISCAL YEAR ENDING MARCH 31, 2004 UFJ Holdings, Inc. 1. FORECAST OF FINANCIAL RESULTS (Table C-1-a) Billions of Yen Forecast for the Fiscal Year 3/ year Interim (actual) Non-consolidated Basis Operating Income Ordinary Profit ('Keijo Rieki') Net Income <For reference> Consolidated Basis Original Forecast Change Total Income 2, , , % Ordinary Profit ('Keijo Rieki') (16.67%) Net Income % <For reference> Forecasts of Financial Results for Banking Subsidiaries (Table C-1-b) Forecast for the Fiscal Year 3/2003 UFJ Bank Combined UFJ Bank UFJ Trust Bank Billions of yen (UFJ Bank, UFJSP & UFJEI) (Non-consolidated) (Non-consolidated) 1-year Interim (actual) 1-year Interim (actual) 1-year Interim (actual) Business Profit before Net Transfer to General Reserve* Total Credit Costs (465.0) (232.1) (405.0) (203.9) (35.0) ** (11.7) ** Ordinary Profit Net Income * Before Write-off in Trust Account ** Banking and Trust Account 2. FORECAST OF DIVIDENDS DECLARED (Non-consolidated) (Table C-2) Forecast for the Fiscal year 3/ year Interim Yen Common Stock 2,500 - Class I Preferred Shares 37,500 - Class II Preferred Shares 15,900 - Class III Preferred Shares 68,750 - Class IV Preferred Shares 18,600 - Class V Preferred Shares 19,400 - Class VI Preferred Shares 5,300 - Class VII Preferred Shares 11,