Provisional translation

Press Conference by Shoichi Nakagawa, Minister of Finance and Minister for Financial Services

(Excerpt)

December 26, 2008

[Questions and Answers]

Q.

How do you feel about Shinginko Tokyo amid speculation that a business improvement order may be issued against it?

A.

I have received reports concerning various data. However, I have not received a report concerning what action will be taken against this bank.

Q.

Previously, it was pointed out that the Tokyo Metropolitan Government was also responsible for this bank’s problems and you said you would like to make a decision after receiving various reports. What is your thinking now?

A.

I have received various reports concerning its business operations. Although there have been many media reports about which regulatory actions will be taken, I have not formally received a report concerning this. I expect that an appropriate action will be taken. This is an extraordinary case in that a local government is the bank’s major shareholder and it has made various moves such as repeated capital increases, so it is necessary to take appropriate action. Generally speaking, I think that financial institutions led by local governments like this one may be established in the future. However, it would be very unfortunate if Shinginko Tokyo, which is the pioneer in this field, set an unfavorable precedent with its numerous problems, leading to excessive cautiousness in the future.

(End)