Millea Holdings, Inc. (the Company) announced that, at the meeting of the Board of Directors held on May 19, 2006, it resolved a split of its shares of common stock (one share into 500 shares), the introduction of a unit share system (one unit: 500 shares) and the change of the number of shares constituting one unit (one unit: 100 shares). The resolution is summarized below.

As a result of the change described below, starting Monday, October 2, 2006(*), the common stock of the Company will be traded in one unit, constituted by 100 shares after the 1-to-500 split.

(*) After the stock split, shareholders who are not registered with the JASDEC System can sell their shares only after they receive the new share certificates to be delivered around November 20, 2006.

1. Purpose
To broaden investor base through lowering the unit price and facilitate investment activities.

2. Stock Split 

(1) Method

A one to five hundred stock split will be made for shareholders listed or recorded in the final register of shareholders and resister of beneficial shareholders as of Friday, September 29, 2006.

(2) Number of additional shares to be issued in connection with the stock split

Number of additional shares to be issued in connection with the stock split:	841,837,326.25 shares
Total number of shares issued after the stock split:	843,524,375 shares

(3) Delivery of the newly issued share certificates

The outstanding share certificates, which cannot be used for settlement at the Tokyo Stock Exchange as well as at the Osaka Stock Exchange after the stock split and the introduction of the unit share system, will be collected from the market. Newly issued share certificates are scheduled to be delivered around Monday, November 20, 2006.

(4) Period of submission of the outstanding share certificates

From Monday, August 14, 2006 to Friday, September 29, 2006

(5) Amendment to the Articles of Incorporation

At the meeting of the Board of Directors held on May 19, 2006, it was resolved that the Articles of Incorporation of the Company be amended to the effect that the total number of shares authorized to be issued by the Company shall be 3,300,000,000 shares as of September 30, 2006.
Before the amendment, the total number of shares authorized to be issued was 6,870,000 shares. As a result of the cancellation of 40,000 shares held by the Company as treasury stock in March 2006, the current total number of the shares issued and registered is 6,830,000 shares.

3. Introduction of Unit Share System

(1) Summary

On Saturday, September 30, 2006, a unit share system will be introduced. One unit of shares in the Company shall consist of 500 shares.

(2) Amendment of the Articles of Incorporation

At the meeting of the Board of Directors held on May 19, 2006, it was resolved that the Articles of Incorporation be amended to the effect that one unit of shares in the Company shall consist of 500 shares as of Saturday, September 30, 2006.

4. Change of the Number of the Shares Constituting One Unit 

(1) Summary

On Monday, October 2, 2006, the number of shares per one unit of shares will be changed from 500 shares to 100 shares.

(2) Amendment of the Articles of Incorporation

At the meeting of the Board of Directors held on May 19, 2006, it was resolved that the Articles of Incorporation be amended to the effect that the number of shares per one unit of shares shall change from 500 shares to 100 shares as of Monday, October 2, 2006.

5. Schedule

Friday, May 19, 2006	Resolution at the meeting of the Board of Directors regarding the introduction of the unit share system, the change of the number of shares constituting one unit and the relevant amendment of the Articles of Incorporation (*) (*) Increase in the total number of shares authorized to be issued by the Company, introduction of a provision regarding the unit share system and change in the number of shares constituting one unit.
Friday, August 11, 2006	Public announcement regarding the stock split, the introduction of the unit share system as well as the submission of the outstanding share certificates
Monday, August 14 2006	Commencement of submission of the outstanding share certificates
Tuesday, September 26, 2006	Commencement of the trading halts of the shares of the Company at the Tokyo Stock Exchange and at the Osaka Stock Exchange.
Friday, September 29, 2006	Record date for purposes of the stock split Final date of submission of the outstanding share certificates Final date of trading halts of the shares of the Company
Saturday, September 30, 2006	Effective date of the stock split (one share into 500 shares) Introduction of the unit share system (one unit: 500 shares)
Monday, October 2, 2006	Change in the number of shares consisting one unit (one unit: 100 shares) Public announcement regarding the change in the number of shares consisting one unit (*) Beneficial shareholders who have registered their names in the Custody and Book-Entry Transfer System (JASDEC System) can trade the shares of the Company in one unit, i.e. 100 shares after the split.
Monday, November 20, 2006 (tentative)	Delivery of the newly issued share certificates (*) Shareholders who submit one certificate of the outstanding share, for example, will receive 5 share certificates, each of which representing 100 shares.

Note 1:	The Company will deliver the newly issued share certificates around Monday, November 20, 2006 to the shareholders who submit their outstanding share certificates in due course. From Monday, October 2, 2006, the share certificates issued before the stock split cannot be used for trading. Accordingly, early use of the Custody and Book-Entry Transfer System (JASDEC System) is recommended. Beneficial shareholders who have registered their names in the JASDEC System will be able to sell their shares, including the additional shares issued as a result of the stock split, starting Monday, October 2, 2006. The beneficial shareholders who have registered their names in the JASDEC System before the stock split will not need to go through any extra formalities. The Company intends to send shareholders information on share certificates and the necessary formalities.
Note 2:	The details of the agent accepting the submission of the outstanding share certificates are as follows: Transfer Agent in Japan Mitsubishi UFJ Trust and Banking Corporation Head Office 1-4-5 Marunouchi, Chiyoda-ku, Tokyo Inquiries should be directed to Mitsubishi UFJ Trust and Banking Corporation Stock Transfer Agency Division 1-7-7 Nishi-Ikebukuro, Toshima-ku, Tokyo Phone: 0120-707-696 (toll-free) Transmitting Office Mitsubishi UFJ Trust and Banking Corporation Branch offices throughout Japan
Note 3:	Please note that trading of the shares of the Company will be suspended between Tuesday, September 26, 2006 and Friday, September 29, 2006.

(Reference: Change in the exchange ratio of ADRs)
The ADRs of the Company are traded on NASDAQ in the United States. The Company will change the exchange ratio of ADRs on the occasion of the stock split described above (1-to-500 share split). The Company believes that the change of the exchange ratio will encourage investment in the Company by lowering the minimum amount of investment. The summary of the change of the exchange ratio is as follows:

- Ratio before change:	1 ADR = 0.005 ordinary share
- Ratio after change:	1 ADR = 1 ordinary share
- ADR record date:	Thursday, September 28, 2006 (E.S.T.)
- First trading date with the new ratio:	Friday, October 13, 2006 (E.S.T.)