BW20030901002031  20030901T120102Z UTC



( BW)(SUMITOMO-MITSUI-BNKG)(SBK) Statement re: Support for Mitsui
Mining Company's Revitalization

    Business Editors
    UK REGULATORY NEWS

    TOKYO--(BUSINESS WIRE)--Sept. 1, 2003--

         Sumitomo Mitsui Financial Group Announces Support for
                Mitsui Mining Company's Revitalization

Sumitomo Mitsui Financial Group, Inc. announced today that its
subsidiary, Sumitomo Mitsui Banking Corporation (SMBC), has today
jointly submitted an application based on Clause 22 of the Industrial
Revitalization Corporation Act together with Mitsui Mining Company,
Limited ("Mitsui Mining Co."), Mitsui Mining Coke Company, Limited,
Mitsui Mining Logistics Corporation and Mitsui Coal Mining Company,
Limited, to Industrial Revitalization Corporation of Japan ("IRCJ")
for support in their revitalization, and received an approval notice
from IRCJ regarding this support.

SMBC is expected to effect financial support to Mitsui Mining Co. and
other group companies given below on the condition that other related
parties shall approve the revitalization plan, and, as the main bank,
shall take part in the support together with the IRCJ, in order to
realize the said revitalization plan.


                        Outline of the Support:

1.       Outline of Mitsui Mining Group

-------------------- ------------------------------------------- -------------------------------------------
Trade name:          Mitsui Mining Company, Limited              Mitsui Mining Coke Company, Limited
-------------------- ------------------------------------------- -------------------------------------------
-------------------- ------------------------------------------- -------------------------------------------
Location:            3-3 Toyosu 3-chome, Koto-ku, Tokyo          3   Hibikicho    1-chome,    Wakamatsu-ku,
                                                                 Kitakyushu city, Fukuoka prefecture
-------------------- ------------------------------------------- -------------------------------------------
-------------------- ------------------------------------------- -------------------------------------------
Representative:      Shuji Nishino                               Shuji Sueda
-------------------- ------------------------------------------- -------------------------------------------
-------------------- ------------------------------------------- -------------------------------------------
Capital:             Yen 11,641.65 million                       Yen 400 million
-------------------- ------------------------------------------- -------------------------------------------
-------------------- ------------------------------------------- -------------------------------------------
Business:            Sales  of  coal,  construction  materials,  Coke manufacturing
                     machinery, etc.
-------------------- ------------------------------------------- -------------------------------------------

-------------------- ------------------------------------------- -------------------------------------------
Trade name:          Mitsui Mining Logistics Corporation         Mitsui Coal Mining Company, Limited
-------------------- ------------------------------------------- -------------------------------------------
-------------------- ------------------------------------------- -------------------------------------------
Location:            1   Minato-cho,    Omuta   city,   Fukuoka  3-3 Toyosu 3-chome, Koto-ku, Tokyo
                     prefecture
-------------------- ------------------------------------------- -------------------------------------------
-------------------- ------------------------------------------- -------------------------------------------
Representative:      Takamoto Tajima                             Kunio Kajita
-------------------- ------------------------------------------- -------------------------------------------
-------------------- ------------------------------------------- -------------------------------------------
Capital:             Yen 400 million                             Yen 2,500 million
-------------------- ------------------------------------------- -------------------------------------------
-------------------- ------------------------------------------- -------------------------------------------
Business:            Transportation                              Withdrawn from domestic coal mining
-------------------- ------------------------------------------- -------------------------------------------

2. Details of Financial Support

----------------------------- ----------------------------------------------------------------------------
Debt forgiveness              approximately Yen 42,500 million (total being applied for by 4 companies)
----------------------------- ----------------------------------------------------------------------------
----------------------------- ----------------------------------------------------------------------------
Subscription of Capital       approximately  Yen  10,000  million  (convertible  preferred  stock with
                              non-voting rights)
----------------------------- ----------------------------------------------------------------------------
----------------------------- ----------------------------------------------------------------------------
Date                          During second half of fiscal 2003
----------------------------- ----------------------------------------------------------------------------

3. SMFG's Earnings Forecast

SMFG's earnings forecast for the fiscal year ending March 31,
2004, announced on May 26, 2003, is not revised.


   Short Name: Sumitomo Mitsui Bnkg
   Category Code: STR
   Sequence Number: 00009092
   Time of Receipt (offset from UTC): 20030901T124800+0100

    --30--ZW/uk*

    CONTACT: Sumitomo Mitsui Bnkg


    KEYWORD: UNITED KINGDOM JAPAN INTERNATIONAL EUROPE ASIA PACIFIC
    INDUSTRY KEYWORD: BANKING
    SOURCE: Sumitomo Mitsui Bnkg

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