Sumitomo Trust & Banking

The Sumitomo Trust & Banking Co., Ltd.

The Sumitomo Trust and Banking Co., Ltd. ("Sumitomo Trust") announced
today that Sumitomo Trust had today at the Supreme Court made
settlement-at-court "soshoujou-no-wakai" with the Tokyo Metropolitan
Government and the Tokyo Governor and withdrawn the complaints
regarding the Tokyo Metropolitan Government's tax on large banks.

In response to the settlement, Sumitomo Trust is planning to post approximately
5 billion yen of extra ordinary profit for the 1st half fiscal year 2003.

The extra ordinary profit is included in the amended forecast for 1st half
fiscal year 2003 released on October 7, 2003.

For further information, please contact

Koichi Onaka, Head of IR Office, Financial Management Dept.

Telephone: +81-3-3286-8354 Facsimile: +81-3-3286-4654