News Release
March 7, 2001

The Sakura Bank, Ltd.
The Sumitomo Bank, Ltd.
Mitsui Mutual Life Insurance Co.
Sumitomo Life Insurance Co.

Expansion of ATM Alliance between Sumitomo Life Insurance Co.,
Mitsui Mutual Life Insurance Co. and
Sumitomo Mitsui Banking Corporation

  The Sumitomo Bank, Ltd. ("Sumitomo Bank") and The Sakura Bank, Ltd. ("Sakura Bank"), which are scheduled to be merged this April as Sumitomo Mitsui Banking Corporation ("SMBC"), have agreed with Sumitomo Life Insurance Co. ("Sumitomo Life") and Mitsui Mutual Life Insurance Co. ("Mitsui Life") to conclude the strategic business alliance as follows;

  They are planning to enable every card holder of Sumitomo Life and Mitsui Life to use around 8,000 ATMs of SMBC (including around 1,000 @B∧NK ATMs which are installed in "am/pm" convenience stores) from this July.

  The respective couple of Sumitomo Life-Sumitomo Bank and Mitsui Life-Sakura Bank, which already announced the bi-lateral ATM alliance this January, have agreed to expand that alliance to multi-lateral one among four institutions.

  In order to provide the best financial services to customers, we, the above mentioned four institutions, are aiming at strengthening those business alliances through maximum utilization of each financial infrastructure.

[The outline of ATM alliance]
Facility :  Cash Withdrawal
Starting :  July, 2001
The number of ATMs :  8,000 (Sakura Bank:5,000 including 1,000 @B∧NK ATMs)
             (Sumitomo Bank:3,000)
The number of
Insurance Cards
:  Mitsui Life:600 thousand
   Sumitomo Life:3,500 thousand (as of Dec. 31, 2000)