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UFJ International (44KI)

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Wednesday 25 May, 2005

UFJ International

Final Results

UFJ International PLC
25 May 2005


UFJ International plc advises of the following announcement from UFJ Holdings, 
Inc.:

                                                        May 25, 2005


               Financial Results of UFJ Holdings, Inc.
               For the Fiscal Year Ended March 31, 2005

UFJ Holdings, Inc. today reported the company's consolidated financial results
for the fiscal year ended March 31, 2005.

Total Revenue for the fiscal year was 2,616 billion yen, compared with 2,689
billion yen for the previous fiscal year. Net Loss for the fiscal year was 554
billion yen, compared with 402 billion yen for the previous fiscal year.



FINANCIAL HIGHLIGHTS
                                                     Fiscal year ended March 31,
                                                        2005               2004
Millions of yen                                   (Unaudited)
--------------------------------------------------------------------------------
RESULTS
   Total Income                                    2,616,719          2,689,911
   Income (Loss) before Income Taxes                (234,542)          (331,745)
   Net Income (Loss)                                (554,532)          (402,806)

BALANCE SHEETS
   Total Assets                                   82,553,660         82,134,447
   Stockholders' Equity                            1,180,098          1,665,098

PER SHARE
   Net Income (Loss)                             (108,332.61)        (82,174.75)
   Stockholders' Equity                           (46,437.47)         34,706.92



 Notes:

 (1) Net Income per Share =     Net Income - Dividends for Preferred Stock
                                -------------------------------------------------------------------------------------
                                Weighted Average Number of Shares of Common Stock *

 (2) Stockholders' Equity per Share = Stockholders' Equity - Number of Shares of Preferred Stock x Issue Price -
                                      Dividends for Preferred Stock
                                      ----------------------------------------------------------------------------------
                                      Number of Shares of Common Stock *Outstanding as of the end of the fiscal year

     *Excluding treasury stocks and stocks held by subsidiaries

 (3) Equity in earnings of affiliates as of March 31, 2005 is 4,011 million yen.

 (4) For Net Income per Share and Stockholders' Equity per Share, the third decimal is omitted.

 (5) Amounts less than one million yen are omitted.



(NOTES)
  Scope of Consolidation and Application of the Equity Method
  (1)Consolidated Companies
       (Consolidated Subsidiaries)                                     100        Companies
                                                                      ---------------------
           UFJ Bank Limited
           UFJ Trust Bank Limited
           UFJ Tsubasa Securities Co., Ltd.
           The Senshu Bank, Ltd.
           UFJ Partners Asset Management Co., Ltd.
           UFJ International plc

  (2)Companies accounted for under the Equity Method
       (Companies accounted for under the equity method)                26        Companies
                                                                      ---------------------
           The Chukyo Bank, Ltd.
           UFJ Central Leasing Co., Ltd.


The board of directors of the Company approved and resolved at the board meeting
held on May 25, 2005, the Company's non-consolidated financial results for the
fiscal year ended March 31, 2005.

The Consolidated Net Income and Dividend per Share for the six months ending
September 30, 2005 are forecasted as follows:

  Net Income (million yen)
     6 months                                                                      140,000
  Dividend per Share (yen)
           Common Stock                                                                  0
           Class I Preferred Shares                                                      0
           Class II Preferred Shares                                                     0
           Class III Preferred Shares                                                    0
           Class IV Preferred Shares                                                     0
           Class V Preferred Shares                                                      0
           Class VI Preferred Shares                                                     0
           Class VII Preferred Shares                                                    0



CONSOLIDATED BALANCE SHEETS

                                                                         As of March 31,
                                                       -----------------------------------
Millions of yen                                                   2005             2004          Variance
                                                            (Unaudited)
---------------------------------------------------------------------------------------------------------

Assets:
  Cash and Due from Banks                                    5,930,442        4,476,660        1,453,782
  Call Loans                                                   365,723          292,119           73,604
  Receivables under Resale Agreements                        1,778,607          632,784        1,145,822
  Collateral Deposits on Securities Borrowed                 2,404,996        2,269,420          135,576
  Monetary Receivables Bought                                  398,136          304,500           93,636
  Trading Assets                                             5,298,794        2,792,948        2,505,845
  Money Held in Trust                                           57,019          132,524          (75,505)
  Securities                                                21,770,762       22,025,991         (255,228)
  Loans and Bills Discounted                                37,354,415       42,462,644       (5,108,228)
  Foreign Exchanges                                            653,615          613,382           40,232
  Other Assets                                               2,155,598        2,753,638         (598,039)
  Premises and Equipment                                       648,145          678,113          (29,967)
  Deferred Tax Assets                                        1,122,422        1,413,766         (291,343)
  Goodwill                                                       3,076            9,229           (6,152)
  Customers' Liabilities for Acceptances and Guarantees      4,088,890        3,398,200          690,689
  Reserve for Cridit Losses                                 (1,472,861)      (2,120,260)         647,398
  Reserve for Losses on Securities                              (4,125)          (1,217)          (2,908)
                                                                                                       0
---------------------------------------------------------------------------------------------------------
    Total Assets                                            82,553,660       82,134,447          419,212
=========================================================================================================
                                                                                                       0
Liabilities, Minority Interests and Stockholders'
 Equity
                                                                                                       0
Liabilities:
  Deposits                                                  50,725,723       52,975,742       (2,250,018)
  Negotiable Certificates of Deposit                         3,857,874        5,514,401       (1,656,527)
  Call Money                                                 4,765,662        4,863,792          (98,130)
  Payables under Repurchase Agreements                       2,906,021          669,520        2,236,501
  Collateral Deposits on Securities Loaned                   2,261,850        1,764,098          497,752
  Commercial Paper                                              97,638          297,079         (199,441)
  Trading Liabilities                                        3,753,343        2,167,596        1,585,747
  Borrowed Money                                             1,384,986        1,495,260         (110,274)
  Foreign Exchanges                                            148,942          187,987          (39,045)
  Short-term Corporate Bonds                                   464,200           70,000          394,200
  Corporate Bonds and Notes                                  2,564,335        2,686,367         (122,031)
  Borrowed Money from Trust Account                          1,241,919        1,754,077         (512,158)
  Other Liabilities                                          1,457,546        1,668,144         (210,598)
  Reserve for Employee Bonus                                     9,895           17,016           (7,120)
  Reserve for Retirement Benefits                               13,537           14,354             (817)
  Reserve for Losses on Supports of Specific Borrowers               -            5,057           (5,057)
  Reserve for Possible Losses Related to Land Trust             14,522                -           14,522
  Other Reserves                                                   322              295               26
  Deferred Tax Liabilities                                      28,784           17,985           10,798
  Deferred Tax Liabilities for Revaluation Reserve for
   Land                                                         75,230           76,958           (1,727)
  Acceptances and Guarantees                                 4,088,890        3,398,200          690,689
                                                                                                       0
---------------------------------------------------------------------------------------------------------
    Total Liabilities                                       79,861,227       79,643,938          217,289
---------------------------------------------------------------------------------------------------------
                                                                                                       0
Minority Interests                                           1,512,334          825,410          686,923
---------------------------------------------------------------------------------------------------------

Stockholders' Equity:
                                                                                                       0
  Capital Stocks                                             1,000,000        1,000,000                0
  Capital Surplus                                            1,233,741        1,233,725               15
  Retained Earnings                                         (1,325,433)        (760,566)        (564,866)
  Revaluation Reserve for Land, Net of Taxes                   110,534          112,964           (2,429)
  Net Unrealized Profit (Loss) on Available-for-sale
   securities, Net of Tax                                      257,526          172,640           84,885
  Foreign Currency Translation Adjustments                     (93,579)         (91,434)          (2,144)
  Treasury Stock                                                (2,691)          (2,231)            (459)
---------------------------------------------------------------------------------------------------------
    Total Stockholders' Equity                               1,180,098        1,665,098         (485,000)
---------------------------------------------------------------------------------------------------------
  Total Liabilities, Minority Interests and
    Stockholders' Equity                                    82,553,660       82,134,447          419,212
=========================================================================================================



CONSOLIDATED STATEMENTS OF OPERATIONS

                                                           Fiscal year ended March 31,
                                                    ----------------------------------
                                                               2005              2004           Variance
Millions of yen                                          (Unaudited)
--------------------------------------------------------------------------------------------------------

Revenue:

  Interest Income                                         1,017,174         1,027,517           (10,342)
    Interest on Loans and Discounts                         728,580           771,488           (42,907)
    Interest on and Dividends from Securities               210,231           174,723            35,507
  Trust Fees                                                 51,236            49,408             1,828
  Fees and Commissions                                      496,579           454,711            41,867
  Trading Revenue                                            55,578           188,019          (132,440)
  Other Operating Income                                    447,650           492,556           (44,905)
  Other Income                                              548,499           477,698            70,800

--------------------------------------------------------------------------------------------------------
    Total Revenue                                         2,616,719         2,689,911           (73,192)
--------------------------------------------------------------------------------------------------------

Expenses:

  Interest Expenses                                         213,741           202,504            11,236
    Interest on Deposits                                     78,802            71,859             6,943
  Fees and Commissions                                       71,308            66,914             4,394
  Trading Expenses                                            1,648                 -             1,648
  Other Operating Expenses                                  212,486           334,458          (121,971)
  General and Administrative Expenses                       730,478           773,036           (42,558)
  Other Expenses                                          1,621,598         1,644,742           (23,144)

--------------------------------------------------------------------------------------------------------
   Total Expenses                                         2,851,262         3,021,656          (170,394)
--------------------------------------------------------------------------------------------------------

Income (Loss) before Income Taxes & Minority
 Interests                                                 (234,542)         (331,745)           97,202
Provision for Income Taxes                                   17,871            14,127             3,744
Deferred Income Taxes                                       280,121            36,929           243,192
Minority Interests in Net Income
 (Loss)                                                      21,995            20,003             1,992

--------------------------------------------------------------------------------------------------------
Net Income (Loss)                                          (554,532)         (402,806)         (151,725)
========================================================================================================



CONSOLIDATED STATEMENTS OF CASH FLOWS
                                                        Fiscal year ended March 31,
                                                        ---------------------------
                                                               2,005         2,004       Variance
Millions of yen                                           (Unaudited)
-------------------------------------------------------------------------------------------------
Cash Flows from Operating Activities
 Income Before Income Taxes & Minority Interests            (234,542)     (331,745)       97,202
 Depreciation                                                 21,182        22,856        (1,674)
 Amortization of Goodwill                                      2,549         3,643        (1,093)
 Equity in Earnings of Affiliates                             (3,355)       (6,974)        3,618
 Net Increase (Decrease) in Reserve for Credit Losses       (634,594)      445,608    (1,080,202)
 Net Increase (Decrease) in Reserve for Losses on
   Securities                                                  2,963          (107)        3,071
 Net Increase (Decrease) in Reserve for Contingent
   Liabilities Related to Loans Sold                               -       (18,807)       18,807
 Net Increase (Decrease) in Reserve for
   Possible Losses on Support of Specific Borrowers           (5,057)        5,057       (10,115)
 Net Increase (Decrease) in Reserve for Employee
  Bonuses                                                     (6,307)       (6,339)           31
 Net Increase (Decrease) in Reserve for
   Retirement Benefit                                          1,653       117,884      (116,231)
 Net Increase (Decrease) in Reserve for Possible Losses
   Related to Land Trust                                      14,522             -        14,522
 Interest Income                                          (1,017,174)   (1,027,517)       10,342
 Interest Expenses                                           213,741       202,504        11,236
 Net (Gain) Loss on Securities                                58,748      (360,417)      419,165
 Net (Gain) Loss on Money Held in Trust                       19,273           406        18,867
 Net (Gain) Loss on Foreign Currency Translation
  Adjustments                                                (76,371)      164,411      (240,782)
 Net (Gain) Loss on Sales of Premises and Equipment          (39,975)       20,834       (60,810)
 Net (Gain) Loss on Establishing Retirement Benefit
  Trust                                                            -       (40,887)       40,887
 Net (Increase) Decrease in Trading Assets                (2,481,032)      231,346    (2,712,379)
 Net Increase (Decrease) in Trading Liabilities            1,550,355       215,460     1,334,895
 Net (Increase) Decrease in Loans and Bills Discounted     4,978,360     1,682,714     3,295,645
 Net Increase (Decrease) in Deposits                      (2,252,840)    1,882,377    (4,135,217)
 Net Increase (Decrease) in Negotiable Certificates of
   Deposit                                                (1,656,527)      585,522    (2,242,049)
 Net Increase (Decrease) in Borrowed Money
   (Non-subordinated)                                        118,140         6,764       111,375
 Net (Increase) Decrease in Due from Banks
   Excluding Due from Central Bank                          (197,708)      122,062      (319,770)
 Net (Increase) Decrease in Call Loans and
   Monetary Receivables Bought                            (1,280,224)      (19,027)   (1,261,196)
 Net (Increase) Decrease in Collateral Deposits on
   Securities Borrowed                                      (135,576)      169,084      (304,661)
 Net Increase (Decrease) in Call Money and
   Other Fundings Related to Operating Activities          2,116,641    (1,064,614)    3,181,256
 Net Increase (Decrease) in Commercial Paper                (200,090)      (58,325)     (141,765)
 Net Increase (Decrease) in Collateral Deposits on
   Securities Lent                                           497,752    (1,145,080)    1,642,832
 Net (Increase) Decrease in Foreign Exchange Assets          (40,230)      (46,918)        6,687
 Net Increase (Decrease) in Foreign Exchange
  Liabilities                                                (39,052)       98,054      (137,106)
 Net Increase (Decrease) in Short-term Corporate Bonds       394,200        70,000       324,200
 Net Increase (Decrease) in Corporate Bonds
   Resulted from Issuance, Redemption and Repurchase         (95,254)      219,293      (314,548)
 Net Increase (Decrease) in Borrowed Money from Trust
  Account                                                   (512,158)      503,831    (1,015,990)
 Interest Received                                         1,009,581     1,076,042       (66,461)
 Interest Paid                                              (206,116)     (221,657)       15,541
 Others, Net                                                (184,693)        2,338      (187,032)
                                                        -----------------------------------------
 Sub-total                                                  (299,219)    3,499,683    (3,798,902)
 Income Taxes Paid                                           (14,110)       (5,620)       (8,490)

                                                        -----------------------------------------
 Net Cash Provided by (Used in) Operating Activities        (313,329)    3,494,062    (3,807,392)
                                                        -----------------------------------------



CONSOLIDATED STATEMENTS OF CASH FLOWS
(CONTINUED)
                                                            Fiscal year ended March 31,
                                                           -----------------------------
                                                                   2,005          2,004        Variance
Millions of yen                                               (Unaudited)
-------------------------------------------------------------------------------------------------------

Cash Flows from Investing Activities

  Purchases of Securities                                    (51,209,102)   (54,413,577)     3,204,475
  Proceeds from Sales of Securities                           35,222,409     36,081,218       (858,808)
  Proceeds from Maturities of Securities                      16,897,698     14,631,033      2,266,664
  Increase in Money Held in Trust                               (101,293)      (180,066)        78,773
  Decrease in Money Held in Trust                                157,510         83,064         74,446
  Expenditures for Premises and Equipment                       (117,118)       (26,472)       (90,646)
  Proceeds from Sales of Premises and Equipment                  152,153         15,563        136,590
  Expenditures for Purchases of Consolidated Subsidiaries         (2,761)             -         (2,761)
  Proceeds from Sales of Consolidated Subsidiaries                 4,563            955          3,607
  Others, Net                                                          -             (4)             4

                                                           --------------------------------------------
  Net Cash Provided by (Used in) Investing Activities          1,004,061     (3,808,285)     4,812,346

Cash Flows from Financing Activities

  Proceeds from Issuance of Subordinated Debt                          -         33,500        (33,500)
  Expenditures for Repayment of Subordinated Debt                (54,145)        (7,500)       (46,645)
  Proceeds from Issuance of Subordinated Bonds                    43,063        331,760       (288,696)
  Redemption and Repurchase of Subordinated Bonds                (79,723)       (90,363)        10,639
  Proceeds from Issuance of Capital Stocks to Minority
   Interests                                                     700,000              -        700,000
  Dividends Paid                                                 (12,861)        (7,028)        (5,832)
  Dividends Paid to Minority Interests                           (27,206)       (27,020)          (186)
  Expenditures for Purchase of Treasury Stocks                      (897)          (534)          (362)
  Proceeds from Sales of Treasury Stocks                              45             70            (24)
  Others, Net                                                       (142)        (3,244)         3,102

                                                           --------------------------------------------
  Net Cash Provided by (Used in) Financing Activities            568,132        229,638        338,493

Effect of Exchange Rate Changes on Cash and
  Cash Equivalents                                                 1,201         (1,519)         2,721

                                                           --------------------------------------------
Net Increase (Decrease) in Cash and Cash Equivalents           1,260,065        (86,103)     1,346,168

Cash and Cash Equivalents at Beginning of Fiscal Year          3,617,827      3,703,931        (86,103)

Cash and Cash Equivalents at End of Fiscal Year                4,877,893      3,617,827      1,260,065
=======================================================================================================

Note: Amounts less than one million yen are omitted.



FORECAST FOR FISCAL YEAR ENDING SEPTEMBER 30, 2005

UFJ Holdings and its subsidiary banks will dissolve at the time of merger with
Mitsubishi Tokyo Financial Group, Inc.(MTFG) and its subsidiary banks planned in
October, 2005. Therefore we announce only forecast of interium financial results
and dividends ending Sept. 30, 2005. MTFG's forecast of financial results and
dividends for fiscal year ending Mar. 31, 2006 is based on the merger with UFJ



1. FORECAST OF FINANCIAL RESULTS

   (Table A-1-a)

   Non-consolidated Basis                                                   Consolidated Basis

   Billions of Yen                                    Interim               Billions of                    Interim
                                                                             Yen
   -------------------------------------------------------------            --------------------------------------
   Operating Income                                     16.0                Total Income                  1,080.0
   Ordinary Profit                                       9.0                Ordinary Profit                 260.0
   Net Income                                            9.0                Net Income                      140.0

(Reference)
   (Table A-1-b)
                                         UFJ Bank Combined        UFJ Bank                   UFJ Bank
   Billions of yen                    (UFJ Bank, UFJSP & UFJEI)    (Non-consolidated)       (Consolidated)
   ------------------------------------------------------------  ------------------------   ----------------------
                                                      Interim                     Interim                  Interim
                                                   ----------                  ----------                 --------
   Business Profit before
    Net Transfer to General Reserve                    280.0                       280.0                        -
   Total Credit Costs                                   70.0                        65.0                        -
   Ordinary Profit                                     180.0                       180.0                    210.0
   Net Income                                          130.0                       125.0                  1,450.0

                                      UFJ Trust Bank Combined   UFJ Trust Bank              UFJ Trust Bank
                                        (UFJ Trust & UFJTE)        (Non-consolidated)       (Consolidated)
                                      -----------------------   -------------------------   ----------------------
   Billions of yen                                    Interim                     Interim                  Interim
   -----------------------------------             ----------                  ----------                 --------

   Business Profit before
    Net Transfer to General Reserve                     35.0                        35.0                        -
   Total Credit Costs*                                 (15.0)                      (15.0)                       -
   Ordinary Profit                                      15.0                        15.0                     20.0
   Net Income                                            5.0                         5.0                     (5.0)
    * Banking and Trust Account
                                       Combined
   Billions of yen
   ----------------------------------------------------------
                                                      Interim
                                                   ----------
   Business Profit before                              315.0
    Net Transfer to General Reserve                     55.0
   Total Credit Costs                                  195.0
   Ordinary Profit                                     135.0
   Net Income

2. FORECAST OF DIVIDENDS DECLARED  (Non-consolidated)
   (Table A-2)                             Forecast for the Fiscal Year 2005
                                      --------------------------------------
                                                      Interim
   Yen
   -------------------------------------------------------------

   Common Stock                                            0
   Class I Preferred Shares*                               -
   Class II Preferred Shares                               0
   Class IV Preferred Shares                               0
   Class V Preferred Shares                                0
   Class VI Preferred Shares                               0
   Class VII Preferred Shares                              0

   *All Class I Preferred Shares will be converted to common stocks on August 1, 2005.


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