Millea Holdings, Inc. (the "Company") announced that on June 28, 2005 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) Reasons for the repurchases of shares 

The Company intends to repurchase its own shares in order to implement flexible financial policies and to prepare for the exercise of stock acquisition rights pursuant to a stock option scheme under a stock-linked compensation plan to be issued to Millea Holdings' directors and corporate auditors and to the directors and corporate auditors of its wholly-owned subsidiaries, Tokio Marine & Nichido Fire Insurance Co., Ltd. and Tokio Marine & Nichido Life Insurance Co., Ltd. The number of shares to be issued upon exercise of stock acquisition rights is 310.


(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 17,500 shares.
         (Approximately 1.0% of total issued shares.)
   (c) Aggregate purchase price of shares:
         Up to 20 billion yen.
   (d) Period in which repurchases may be made:
         From June 29, 2005 through September 9, 2005.