News Release


[Sumitomo Mitsui Financial Group, Inc.]Notice regarding Repurchase and Cancellation of Public Fund Preferred Stocks(1/1)

Sumitomo Mitsui Financial Group, Inc.

 

Notice regarding Repurchase and Cancellation of Public Fund Preferred Stocks

 

Tokyo, May 12, 2006 --- Sumitomo Mitsui Financial Group, Inc. (SMFG, President: Teisuke Kitayama) hereby announces that SMFGfs Board of Directors resolved at a meeting today to repurchase and cancel its Type 1 preferred stock and part of its Type 2 preferred stock (aggregate amount of repurchase: approximately JPY 275.9 billion) owned by the Resolution and Collection Corporation (RCC) as described below, and obtained an approval of the relevant authorities for the repurchase today.

 

The repurchase of the preferred stocks is to be executed within SMFGfs own stock repurchase limit approved at its annual general shareholdersf meeting held in June 2005.

 

In addition, SMFG intends to cancel those shares of the preferred stocks upon repurchase.

 

 

PARTICULARS

 

 

Details of Repurchase and Cancellation

 

1.       Type 1 Preferred Stock

(1) Number of Shares to Be Repurchased

 

: 35,000 shares

(2) Repurchase Price

 

: JPY 4,056,000 per share

(3) Total Amount of Repurchase

 

: JPY 141,960,000,000

(4) Repurchase from

 

: RCC

(5) Repurchase Date (Scheduled)

 

: May 17, 2006

 

2.       Type 2 Preferred Stock

(1) Number of Shares to Be Repurchased

 

: 33,000 shares

(2) Repurchase Price

 

: JPY 4,059,300 per share

(3) Total Amount of Repurchase

 

: JPY 133,956,900,000

(4) Repurchase from

 

: RCC

(5) Repurchase Date (Scheduled)

 

: May 17, 2006

 

 

 

 

iREFERENCEj

 Summary of the public fund preferred stocks to be repurchased:

Type of Preferred Stock

Type 1 Preferred Stock

Type 2 Preferred Stock

Original Date of Issue

March 31, 1999

March 31, 1999

Number of Shares Issued

67,000 shares

100,000 shares

Issue Price

JPY 3,000,000 per share

JPY 3,000,000 per share

Aggregate Amount Issued

JPY 201 billion

JPY 300 billion

Number of Shares Outstanding

Immediately Prior to This Repurchase

35,000 shares

100,000 shares

Aggregate Amount Outstanding

Immediately Prior to This Repurchase

JPY 105 billion

JPY 300 billion

 

 

Summary of the public fund preferred stock other than the above:

Type of Preferred Stock

Type 3 Preferred Stock

Original Date of Issue

March 31, 1999

Number of Shares Issued

800,000 shares

Issue Price

JPY 1,000,000 per share

Aggregate Amount Issued

JPY 800 billion

Number of Shares Outstanding

as of the Date hereof

695,000 shares

Aggregate Amount Outstanding

as of the Date hereof

JPY 695 billion

 




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