In connection with its announcement on July 28, 2008, Tokio Marine Holdings, Inc. ("TMHD") (President: Shuzo Sumi) announces that it has agreed with Banco Santander S.A. on the sale of all of its shares of Real Tokio Marine Vida e Previdência S.A. ("RTMVP"), a life insurance and pension affiliate in Brazil. Prior to the sale, Tokio Marine Seguradora S.A. ("TMSR"), a wholly-owned subsidiary of TMHD, and ABN AMRO Brasil Dois Participações S.A., a subsidiary of Banco Santander S.A., each separately held 50% of the shares of RTMVP.

Total consideration for the sale is approximately R$678 million (approximately JPY27 billion, at R$1=JPY39.33). TMHD expects to realize a gain of approximately JPY12 billion on the sale and include that amount in its consolidated financial results for the fiscal year ending March 31, 2009. Beginning with the fiscal year ending March 31, 2010, the financial results of RTMVP will not be accounted for by equity method in the consolidated financial statements of TMHD.

The financial impact of this transaction was included in consolidated business forecasts of TMHD announced on February 13, 2009.

TMHD owns TMSR and Tokio Marine Brasil Seguradora S.A. ("TMBR") (a 91.4% owned subsidiary of Tokio Marine & Nichido Fire Insurance Co., Ltd., a wholly-owned subsidiary of TMHD), both of which operate as property and casualty and life insurance companies in Brazil. TMHD will continue to provide property and casualty and life insurance products in Brazil through these two subsidiaries.

< Overview of RTMVP >
Company's Name: Real Tokio Marine Vida e Previdência S.A.
Head Office: São Paulo, Brazil
Total Assets (as of December 31, 2008): R$6,661 million (approximately JPY262 billion)
Premiums and Pension Income
(fiscal year ended December 31, 2008): R$1,690 million (approximately JPY66 billion)




Cautionary Statement Concerning Forward-Looking Statements

Certain statements in this announcement (including the timing or completion or the anticipated financial impact of the transaction described herein) may constitute “forward-looking statements” as defined under U.S. securities laws. Actual results could differ materially from those projected or forecasted in the forward-looking statements. TMHD assumes no obligation to, and expressly disclaims any obligation to, update the information in this announcement, except as otherwise required by law. Readers are cautioned not to place undue reliance on any forward-looking statements, which speak only as of the date hereof.