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May 10, 2004

Millea Holdings, Inc.
President: Kunio Ishihara
TSE code number: 8766

Subject: Dividends for the fiscal year ended March 31, 2004

We hereby announce that we have revised our previous forecast of the amount of cash dividends for the fiscal year ended March 31, 2004 as follows.

1.Revised forecast of the amount of cash dividends for the year ended March 31, 2004 
  Dividends per share
at year end
Dividends per share
for the fiscal year
Previous forecast (*1) 10,000 yen 10,000 yen
Revised forecast 11,000 yen 11,000 yen
(Reference) Dividends paid
for the fiscal year ended
March 31, 2003
10,000 yen 10,000 yen


(*1)Announced on November 27, 2003.

2.Principal reasons for the revision 

When apportioning profits, we expect to pay stable dividends on our common stock taking into consideration our business results and our expected future environment, subject to having retained earnings and to providing sufficient capital to meet our business needs. In light of the current circumstances and various factors, we intend to propose at the 2nd ordinary general meeting of shareholders to be held at the end of June 2004, the payment of cash dividends for the fiscal year ended March 31, 2004 in the amount of 11,000 yen per share, an increase of 1,000 yen per share from the previous fiscal year.