Establishment of Millea Holdings, Inc.

On April 2, 2002, The Tokio Marine and Fire Insurance Company, Limited ("Tokio Marine"; president: Kunio Ishihara) and The Nichido Fire and Marine Insurance Company, Limited ("Nichido Fire"; president: Tomio Higuchi) (collectively, the "Companies") jointly established a holding company, Millea Holdings, Inc., through a statutory share exchange under Japanese law. The changes in the parent company and in the major shareholders of the Companies are as shown in the appendix.

As a result of the transaction, the Companies have become wholly owned subsidiaries of Millea Holdings, Inc.

Appendix

1. Changes in the parent company of the Companies.

• (1)Outline of the parent company:
  • Company Name:
    • Millea Holdings, Inc.
  • Address:
    • 5-1, Otemachi 1-chome, Chiyoda-ku, Tokyo
  • Name of Representative:
    • Kunio Ishihara
  • Share Capital:
    • 150 billion yen
  • Business Operations:
    • Management of non-life insurance companies, life insurance companies, securities companies, foreign companies engaged in insurance businesses and any other company which is or may become a subsidiary of Millea Holdings in accordance with the provisions of the Insurance Business Law of Japan; and Any other business pertaining to the foregoing paragraph.
• (2)Number of voting shares held in the Companies by the parent company and the ratio of its voting shares to all outstanding voting shares:
  • Tokio Marine
    • Before changes: 0shares (0.00%)
    • After changes: 1,549,692,481 shares (100.00%)
  • Nichido Fire
    • Before changes: 0shares (0.00%)
    • After changes: 445,443,869 shares (100.00%)
• (3)Reason for the changes and the date of the changes:
  • Reason:
    • Establishment of a holding company through a statutory share exchange under Japanese law.
  • Date:
    • April 1, 2002

2. Changes in the major shareholders of the Companies.

• (1)Name of the major shareholder: Millea Holdings, Inc.
• (2)Number of voting shares held by the major shareholder of the Companies and the ratio of its voting shares to all outstanding voting shares:
  • Tokio Marine
    • Before changes: 0shares (0.00%)
    • After changes: 1,549,692,481 shares (100.00%)
  • Nichido Fire
    • Before changes: 0shares (0.00%)
    • After changes: 445,443,869 shares (100.00%)
• (3)Date of the changes: April 1, 2002