12

The analysts listed above are equity analysts who follow Tokio Marine HD. Please note that any opinions, estimates, or forecasts regarding the Company's performance made by these analysts are theirs alone and do not represent opinions, estimates or forecasts of the Company. The company does not,by its reference above or distribution, imply its endorsement of or concurrence with such information, conclusions or recommendations.


As of October 2008


Name Firm
David Threadgold Fox-Pitt, Kelton (Asia) Limited
Hideyasu Ban Morgan Stanley Japan Securities Co., Ltd.
John Russell
Seewon Oh
HSBC Securities (Japan) Limited
Makoto Kasai
Nikko Citigroup Limited
Masao Muraki
Daiwa Institute of Research Ltd.
Mitsumasa Okamoto   
Tatsuya Kubo 
Merrill Lynch Japan Securities Co., Ltd.
Natsumu Tsujino
J.P.Morgan Securities Asia Pte. Limited
Nozomu Kunishige Mitsubishi UFJ Securities Co., Ltd.
Yuin Lim Calyon Capital Markets Asia B.V.