Tokio Marine & Nichido Fire Insurance Co., Ltd. ("TMNF") (President: Kunio Ishihara) announces that it has today entered into an agreement with the Brazilian Business Unit of ABN AMRO N.V. providing that TMNF will acquire 100% ownership of Real Seguros S.A., primarily a property & casualty insurer, and 50% ownership interest in Real Vida e Previdencia S.A., a life and pension insurer, through which ABN AMRO operates its insurance and pension business in Brazil. Also as part of the agreement, the parties have entered into a 10-year bancassurance agreement in Brazil whereby ABN AMRO in Brazil will distribute, on an exclusive basis, through its countrywide retail network of its Real Bank, insurance and pension products, combining Real Bank's distribution capabilities with the insurance expertise of TMNF.

TMNF, through its subsidiary Tokio Marine Brasil Segradora S.A. ("TMBR"), has been expanding its insurance operations in Brazil where, as a core country of the Brazil, Russia, India and China group of countries, or BRIC, the economy and the insurance market are expected to grow significantly. Real Seguros, when combined with Real Vida, would be the 7th largest Brazilian insurer and TMNF views this transaction as a rare opportunity to significantly grow its operations in Brazil. Pursuant to the transaction, TMNF will be able to market its insurance products through the approximately 1500 branches of Real Bank and 6500 insurance brokers.

Subject to certain purchase price adjustments, TMNF expects to pay approximately BRL 897 million (JPY 35.9 billion) for the 100% ownership of Real Seguros S.A. and the 50% ownership interest in Real Vida e Previdencia S.A. The closing of the transaction is expected to occur in the summer of 2005. The transaction is subject to regulatory approval in Japan, Brazil and Netherlands.

Company Description
(As of and for the year ended December 31, 2004)

Real Seguros S.A. (non-consolidated) 
Home Office: Sao Paulo, SP, Brazil
President: Mauricio Accioly
Gross Premium: BRL 1,098 million (JPY 43.9 billion)
Total Assets: BRL 1,257 million (JPY 50.3 billion)

Real Vida e Previdencia S.A. 
Home Office: Sao Paulo, SP, Brazil
President: Mauricio Accioly
Gross Premium: BRL 777 million (JPY 31.0 billion)
Total Assets: BRL 2,155 million (JPY 86.2 billion)

Tokio Marine Brasil Segradora S.A.
Home Office: Sao Paulo, SP, Brazil
President: Ryoji Fujii
Gross Premium: BRL 249 million (JPY 10.0 billion)
Total Assets: BRL 309 million (JPY 12.4 billion)