Millea Holdings, Inc. (the "Company") announced that its wholly-owned subsidiary, Tokio Marine & Nichido Fire Insurance Co., Ltd. ("Tokio Marine & Nichido"), has adopted an investment scheme involving a special purpose company, Vetra Finance Corporation ("Vetra"), to increase its investment in highly rated bonds and to enhance its investment efficiency.

1. Details of Tokio Marine & Nichido's investment

(1) Purpose of the investment

Tokio Marine & Nichido aims to increase its investment in highly rated bonds (mainly asset-backed securities issued in Europe and in the United States, rated AAA at the time of issuance) and to enhance its investment efficiency.

(2) Size of the investment

Within a timeframe of approximately 3 years, Tokio Marine & Nichido intends to have purchased subordinated income notes to be issued by Vetra in an aggregate amount of approximately 36 billion Japanese yen.

Within a timeframe of approximately 3 years, Vetra aims to have acquired approximately 500 to 600 billion Japanese yen in total assets.

2. Profile of Vetra

(1) Company Name: Vetra Finance Corporation

(2) Location: Cayman Islands, British West Indies

(3) Date of Foundation: June 16, 2006

(4) Business Operations: Investment in highly rated bonds funded by the issuance of secured notes (mainly consisting of asset-backed commercial paper) and subordinated income notes. (*)

*Neither the Company nor Tokio Marine & Nichido is liable for Vetra's debts, nor do either of them undertake any credit or liquidity assurance with respect to secured notes issued by Vetra.

(5) Closing Date of Fiscal Year: January 31

(6) Number of Employees: 4

(7) Capital Stock: US$1,000

(8) Number of Shares Issued: 1 share

(9) Major Shareholders and Shareholding Percentages: A charitable trust in the Cayman Islands is the sole shareholder of Vetra (100%). The Company and Tokio Marine & Nichido each own 0% of the shares of Vetra.

(10) Results of Business Operation: Not applicable.

(11) Key Dates: On November 15, 2006, Tokio Marine & Nichido began to purchase subordinated income notes issued by Vetra.

The Company intends to include Vetra as a subsidiary in its annual securities report for the fiscal year ending March 31, 2007.