Millea Holdings, Inc. (the "Company") announced that it has repurchased its own shares from the market, pursuant to the resolution of its board of directors dated August 2, 2004.

The Company also announced that on September 6, 2004 its board of directors approved repurchases of its own shares, pursuant to Article 211-3, paragraph 1, item 2 of the Commercial Code, as detailed below.

1.Details of the share repurchases made pursuant to the August 2, 2004 resolution
 (a) Period in which repurchases were made:
      From August 3, 2004 through September 3, 2004.
 (b) Number of shares repurchased:
      9,296 shares.
 (c) Aggregate purchase price of shares:
      14,399,780,000 yen.
 (d) Method of repurchase:
      Purchased through the Tokyo Stock Exchange. 

2.Details of the share repurchases to be made pursuant to the September 6, 2004 resolution
 (1) Reasons for the repurchases of shares
      The Company intends to repurchase its own shares in order to implement flexible  
      financial policies.
 (2) Details of the repurchases of shares
     (a) Class of shares to be repurchased:
          Common stock of Millea Holdings, Inc.
     (b) Aggregate number of shares to be repurchased:
          Up to 9,000 shares.
          (Approximately 0.6% of total issued shares.)
     (c) Aggregate purchase price of shares:
          Up to 11 billion yen.
     (d) Period in which repurchases may be made:
          From September 7, 2004 through October 15, 2004. 

(For reference)

1.Details of the resolution made at the meeting of the board of directors held on August 2, 2004 are as follows.
   (a) Class of shares to be repurchased:
        Common stock of Millea Holdings, Inc.
   (b) Aggregate number of shares to be repurchased:
        Up to 11,000 shares.
        (Approximately 0.6% of total issued shares.)
   (c) Aggregate purchase price of shares:
        Up to 15 billion yen.
   (d) Period in which repurchases may be made:
        From August 3, 2004 through September 3, 2004.

2.Details of the share repurchases made pursuant to the resolutions of the board of directors since July 1, 2004 pursuant to Article 211-3, paragraph 1, item 2 of the Commercial Code
   (a) Aggregate number of shares repurchased: 17,347 shares.
        (Approximately 1.0% of total issued shares.)
   (b) Aggregate purchase price of shares: 27,399,700,000 yen.