Sumitomo Mitsui Banking

Revision of Earnings Forecast for the Six Months Ended September 30, 2003
by SMFG's Consolidated Subsidiary, The Bank of Kansai, Ltd.

Sumitomo Mitsui Financial Group, Inc. ("SMFG") announced today that its
consolidated subsidiary, The Bank of Kansai, Ltd., revised its earnings forecast
for the six months ended September 30, 2003 initially announced on May 26, 2003.
(see Appendix)

(Appendix)

The Bank of Kansai, Ltd. Announces
Revision of Earnings Forecast for the Six Months Ended September 30, 2003

The Bank of Kansai, Ltd. announced today the revision of its previous
earnings forecast for the six months ended September 30, 2003
initially announced on May 26, 2003.

1. Revision of Earnings Forecast (for the six months ended September 30, 2003)

(Consolidated)                                              (Millions of Yen)

                                             Total   Operating  Net
                                              Income   Profit   Income
---------------------------------------------------- --------- -------
Previous Forecast (A)                        21,600     2,400   1,200
---------------------------------------------------- --------- -------
Revised Forecast (B)                         24,300     2,570   1,400
---------------------------------------------------- --------- -------
Difference (B)-(A)                            2,700       170     200
---------------------------------------------------- --------- -------
Percentage Change                              12.5%      7.0%   16.6%
---------------------------------------------------- --------- -------
(Ref.) Previous 1st Half                     21,673     3,365   1,719
---------------------------------------------------- --------- -------


(Non-consolidated)                                          (Millions of Yen)

                                             Total   Operating  Net
                                              Income   Profit   Income
---------------------------------------------------- --------- -------
Previous Forecast (A)                        16,400     2,000   1,000
---------------------------------------------------- --------- -------
Revised Forecast (B)                         18,900     2,470   1,600
---------------------------------------------------- --------- -------
Difference (B)-(A)                            2,500       470     600
---------------------------------------------------- --------- -------
Percentage Change                              15.2%     23.5%   60.0%
---------------------------------------------------- --------- -------
(Ref.) Previous 1st Half                     16,096     2,599   1,269
---------------------------------------------------- --------- -------

2. Reason for Revision

Non-consolidated

Total Income is expected to increase by 2,804 million yen (+17.4%) from the six
months ended September 30, 2002 and 2,500 million yen (+15.2%) from the previous
forecast mainly due to a steady increase in loans of 93.6 billion yen (+10.0%
from September 30, 2002) and gains on sales of bonds and equity securities.

Core banking profit is expected to hit a fourth consecutive term record of 6,160
million yen in the six months ended September 30, 2003, an increase of 964
million yen (+18.5%) from the six months ended September 30, 2002 and 660
million yen (+12.0%) from the previous estimate, thanks to a steady increase in
loans to consumers (centered on mortgage loans) and small companies.

Due to the reasons above, Operating profit and Net income on a non-consolidated
basis will increase from the previous forecast.

Consolidated

The consolidated estimates are also revised in line with the above revision of
the non-consolidated estimates.

Both the non-consolidated and consolidated capital ratios are expected to be
approximately 8.3%.

The earnings forecast for the fiscal year ending March 31, 2004 will be
announced at the time of announcement of the financial results for the six
months ended September 30, 2003 scheduled in late-November 2003.

(References)

1. Earnings Forecast for the six months ended September 30, 2003
(Non-consolidated)

                                                             (Billions of yen)

                                          Previous  Revised
                                           Estimate  Estimate  Change
                                             (1)       (2)     (2)-(1)
--------------------------------------------------- --------- --------
         Core Banking Profit (*)               5.5       6.2      0.7
--------------------------------------------------- --------- --------
            Total Credit Cost                 (2.5)     (4.0)    (1.5)
--------------------------------------------------- --------- --------
             Operating profit                  2.0       2.5      0.5
--------------------------------------------------- --------- --------
                Net Income                     1.0       1.6      0.6
--------------------------------------------------- --------- --------

(*) Core Banking Profit= Banking Profit - Transfer to General Reserve for
Possible Loan Losses
- Gains (Losses) on Bonds

2. Major Indicators

                                                                               (Billions of Yen)

                                                         1999/9  2000/9  2001/9  2002/9   2003/9
                                                         Actual  Actual  Actual  Actual  Estimate
--------------------------------------------------------------- -------- ------ -------- --------
Core Banking Profit                                        3.7      4.7    5.2      5.2      6.2
--------------------------------------------------------------- -------- ------ -------- --------
Banking Profit                                             2.9      6.2    5.6      5.8      8.1
--------------------------------------------------------------- -------- ------ -------- --------
Operating Profit (loss)                                    1.3      4.2    2.3      2.6      2.5
--------------------------------------------------------------- -------- ------ -------- --------
Net Income (loss)                                          0.7      2.3    1.2      1.3      1.6
--------------------------------------------------------------- -------- ------ -------- --------
Core ROA                                                  0.64%    0.82%  0.88%    0.83%    0.92%
--------------------------------------------------------------- -------- ------ -------- --------
Core ROE                                                  19.8%    23.9%  24.2%    24.8%    27.8%
--------------------------------------------------------------- -------- ------ -------- --------
Core OHR                                                  70.1%    63.8%  61.6%    61.3%    57.6%
--------------------------------------------------------------- -------- ------ -------- --------
Yen Deposits                                             983.8  1,017.0  990.3  1,097.7  1,207.6
--------------------------------------------------------------- -------- ------ -------- --------
  Of which, Individuals' Deposits                        672.8    658.3  677.1    714.1    757.2
--------------------------------------------------------------- -------- ------ -------- --------
Yen Loans                                                880.4    846.3  886.3    929.5  1,025.2
--------------------------------------------------------------- -------- ------ -------- --------
  Of which, Mortgage Loans                               186.5    213.9  237.6    274.2    322.5
--------------------------------------------------------------- -------- ------ -------- --------



Year-on-year Change

Yen Deposits                                              10.6%   3.3% (2.6%) 10.8% 10.0%
--------------------------------------------------------------- ------ ------ ----- -----
 Of which, Individuals' Deposits                           1.2% (2.1%)   2.8%  5.4%  6.0%
--------------------------------------------------------------- ------ ------ ----- -----
Yen Loans                                                  1.0% (3.8%)   4.7%  4.8% 10.2%
--------------------------------------------------------------- ------ ------ ----- -----
 Of which, Mortgage Loans                                  0.0%  14.6%  11.1% 15.3% 17.6%
--------------------------------------------------------------- ------ ------ ----- -----

3. Unrealized Gains(Losses) on Other Securities

                                                    (Millions of yen)

                                                      September 30,
                                   March 31, 2003           2003
-------------------------------------------------  -------------------
Unrealized Gains(Losses) on Other
 Securities                                 (807)                (617)
-------------------------------------------------  -------------------