Millea Holdings, Inc. (the "Company") resolved at a meeting of its board of directors today to make a proposal regarding a repurchase of its own shares at the 1st ordinary general meeting of shareholders to be held on June 27, 2003, as detailed below.


        1.  Purpose of the repurchase of its own shares 
             The Company intends to repurchase its own shares pursuant to Article 210 of 
             the Commercial Code in order to implement flexible financial policies. 



        2. Details of the share repurchase
             (a) Class of shares to be repurchased:
                   Common stock of Millea Holdings. 

             (b) Aggregate number of shares to be repurchased:
                   Up to 120,000 shares.
                  (Represents approximately 6.5% of the shares outstanding.) 

             (c) Aggregate purchase price of shares:
                   Up to 100 billion yen.