September 20, 2006
To Whom It May Concern:
Company Name: The Sumitomo Warehouse Co., Ltd.
Representative: Shoichi Abe, President(Code: 9303, First Section at TSE and OSE)
Contact: Yuji Fujisaku
Executive Officer and General Manager, Business Promotion Department
Phone: 06-6581-1104

Notice concerning Result of Tender Offer and Change in Subsidiary

The Board of Directors of The Sumitomo Warehouse Co., Ltd. (“SumitomoWarehouse” or the “Offeror”) resolved to commence the tender offer (the “Tender Offer”)
against the common shares of Enshu Truck Co., Ltd. (Jasdaq Securities Exchange, CodeNumber 9057) (the “Target”) at a meeting held on August 29, 2006, and launched the Tender
Offer on August 30, 2006. The Tender Offer expired on September 19, 2006; thus,
Sumitomo Warehouse hereby gives notice of the result thereof, as follows.
In addition, Sumitomo Warehouse also hereby notifies that the Target is scheduled to
become a subsidiary of the Sumitomo Warehouse as a result of the Tender Offer on September
26, 2006.

I.

Result of Tender Offer

1.

Summary of Tender Offer (Announced on August 29, 2006)(1)

Name and Location of the Offeror:
The Sumitomo Warehouse Co., Ltd.

(2)

1-5, Kawaguchi 2-chome, Nishi-ku, Osaka

Name of Target:
Enshu Truck Co., Ltd.

(3)Type of Share Certificates to be Purchased:
Common shares(4)Tender Offer Period:
From Wednesday, August 30, 2006 through Tuesday, September 19, 2006 (21 days)(5)

Purchase Price
1,250 yen per share

2.

Results of Tender Offer(1)

Tender Status
Total Number of Shares Planned to be Purchased:

4,527,600 shares

Number of Shares Planned to be Purchased:

3,848,460 shares

Number Excess of Number Planned to be Purchased:(2)

679,140 sharesTotal Number of Tendered Shares:

4,783,440 shares

Total Number of Purchased Shares:

4,527,600 shares

Outcome of Tender Offer
Since the total number of tendered shares were 4,783,440 shares against 4,527,600
shares of the Total Number of Shares Planned to be Purchased, Sumitomo Warehouseshall not purchase all or part of the excess, but shall make delivery of the sharecertificates or other settlement pertaining to the purchase, etc. of the share certificates by
the pro rata method provided for in Article 27-13, Paragraph 5 of the Securities andExchange Law and Article 32 of the Cabinet Ordinance concerning Disclosure of aTender Offer by an Acquirer other than the Issuer.

Number of Tendering

Total Number ofTotal Number of

Total Number ofShareholders

Tendered Shares

Shares to be

Shares to be

Purchased

Returned

4,527,600 shares

255,840 shares

159

(3)

4,783,440 shares

Calculation Pursuant to Pro Rata Method
Since the total number of shares purchased from each tendering shareholder, which was
calculated in accordance with the pro rata method (rounding off the number of sharesless than one [1] unit [100 shares]) was less than the Total Number of Shares Planned tobe Purchased, Sumitomo Warehouse purchased the tendered shares of one (1) unit (in-2-

the event that such additional purchase of one [1] unit would exceed the number oftendered shares, up to the number of tendered shares) from each of the tendering
shareholders, to the extent required so as not to exceed the Total Number of Shares
Planned to be Purchased, in the order of the greater number of tendered shares rounded
off by pro rata calculation method regarding each tendering shareholder.
However, since the total number of purchased shares would exceed the Total Number ofShares Planned to be Purchased as a result of purchasing the shares from all of thetendering shareholders who had the same number of shares rounded down pursuant tothis method, Sumitomo Warehouse decided on the shareholders from whom the numberof the shares to be purchased by lottery to the extent required so as not to fall short ofthe Total Number of Shares Planned to be Purchased.

(4)

Number of Shares Owned by Offeror and Ownership Ratio After Tender Offer(i)

Number of Shares Owned by Offeror Prior to Tender Offer:
0 share(Ownership Ratio:0.00%)

Number of Voting Rights Prior to Tender Offer:
0 voting rights(Ratio of voting rights:0.00%)(ii) Number of Shares Owned by Offeror After Tender Offer:
4,527,600 shares(Ownership Ratio:60.00%)

Number of Voting Rights After Tender Offer:
45,276 voting rights (Ratio of voting rights: 60.68%)(Note 1)The Ownership Ratio is calculated based on the Total Number of Issued
Shares of the Target as of March 31, 2006 (7,546,000 shares).

(Note 2)

The ratio of voting rights is calculated based on the number of thevoting rights of all shareholders of the Target as of March 31, 2006
(74,618 voting rights, which number is obtained by adding the numberof voting rights with respect to fractional unit shares (26 voting rights)
to the number of voting rights of all shareholders described in the 41st
Annual Securities Report of the Target (submitted on June 22, 2006)(74,592 voting rights)).

(5)

Funds Required for Tender Offer
5,660 million yen-3-3.

Settlement Method and Commencement Date

(1)

Name and Location of Head Office of Securities Company/Bank, etc. which Settles
Purchase, etc.
(i)

Tender Offer Agent:Daiwa Securities SMBC Co., Ltd. 8-1, Marunouchi 1-chome, Chiyoda-ku, Tokyo(ii) Subagent:Daiwa Securities Co., Ltd.
(2)

6-4, Otemachi 2-chome, Chiyoda-ku, Tokyo

Date of Commencement of Settlement
Tuesday, September 26, 2006

(3)

Settlement Method
Soon after the completion of the tender offer period, a notification letter, etc. will beposted to tendering shareholders, etc.. (In the case of a foreign shareholders, thenotification letter will be sent to their standing proxy) via postal mail.
Payment for purchase of the shares will be made in cash. The purchase price will,
without delay after the commencement date of settlement, be remitted by the Tender
Offer Agent or Subagent to the place designated by each tendering shareholder, or paid
at the head office or any of the domestic branches offices of Tender Offer Agent orSubagent where the application for the tender offer was accepted, in accordance with theinstructions of relevant tendering shareholder.

4.

Location Where Tender Offer Report is Available for Public Inspection

The Sumitomo Warehouse Co., Ltd. 1-5, Kawaguchi 2-chome, Nishi-ku, Osaka
Jasdaq Securities Exchange, Inc.

II.

4-9, Kayabacho 1-chome, Nihonbashi, Chuo-ku, Tokyo

Change in Subsidiary

As a result of the Tender Offer, Sumitomo Warehouse’s voting right ratio of the Target
became 60.68%, and the Target is scheduled to become a subsidiary of Sumitomo Warehouseas of September 26, 2006.

1.

Summary of Subsidiary Subject to Change(1) Trade Name:

Enshu Truck Co., Ltd.

-4-(2) Representative:

Kunihiko Sawada, Representative Director andPresident(3) Address of Head Office:627-3, Kiwara, Fukuroi-shi, Shizuoka-ken(4) Date of Incorporation:

August 16, 1965

(5) Main Business:

General freight motor transportation business, freighttransportation handling business, warehousing businessand real estate business(6) Accounting Term:

March 31

(7) Number of Employees:

602 (Consolidated, as of March 31, 2006)(8) Main Places of Business:

Within Shizuoka Prefecture, Kasukabe, Chiba, Tokyo,Yokohama, Ichinomiya, Osaka, Toyama(9) Amount of Capital:

1,284.3 million yen (As of March 31, 2006)(10) Total Number of Issued Shares: 7,546,000 shares (As of March 31, 2006)(11) Composition of Major Shareholders and Shareholding Ratios (As of March 31, 2006):
Yugen Kaisha Three Nine

24.45％

Junsuke Toyoda

17.50％

Keizo Toyoda

4.40％

Hiroko Toyoda

3.33％

Kabushiki Kaisha Fukuroi Soko

3.12％

Kunihiko Sawada

2.60％

Enshu Truck Employees’ Stock Ownership Association

2.49％

Shoko Chukin Bank

2.24％

Shizuoka Bank, Limited

1.64％

Sumitomo Mitsui Banking Corporation

1.60％(Note 1)The data above has been taken from the 41st Annual Securities Reportof the Target (submitted on June 22, 2006).

(Note 2)

According to the Reports on Bulk Holding and the amendments thereto
available for public inspection for the period from April 1, 2006 to
September 19, 2006, the following changes were made with respect tothe shareholders of the Target.

-5-(1)

As of April 27, 2006, the number of shares of the Target held by Yugen
Kaisha Three Nine became 2,081,380 shares, and the shareholding ratio
against the total number of issued shares became 27.58%.

(2)

As of May 12, 2006, the number of shares of the Target held byJunsuke Toyoda became 0 shares, and the shareholding ratio against the
total number of issued shares became 0.00%.

(3)

As of May 12, 2006, the number of shares of the Target held by Keizo
Toyoda became 669,020 shares, and the shareholding ratio against the
total number of issued shares became 8.87%.

(4)

As of May 12, 2006, the number of shares of the Target held by Hiroko
Toyoda became 842,940 shares, and the shareholding ratio against the
total number of issued shares became 11.17%.

(5)

As of May 12, 2006, the number of shares held by Kaoru Aihara
became 480,320 shares, and the shareholding ratio against the total
number of issued shares became 6.37%.

(12) Financial Results for Recent Fiscal Years(Consolidated)

Net Sales(In thousands of yen)

FY2004 (ending March 2005)

FY2005 (ending March 2006)

15,493,886

16,740,356

1,222,259

1,098,665

1,229,980

1,214,127

699,213682,545

21,602,115

21,967,747

9,253,090

9,791,326

Operating Income(In thousands of yen)
Ordinary Income(In thousands of yen)
Current Net Income(In thousands of yen)
Total Assets(In thousands of yen)
Shareholders’ Equity(In thousands of yen)

(The amount of Shareholders’ Equity does not include minority interests.)-6-(Non-consolidated)
FY2004 (ending March 2005)

FY2005 (ending March 2006)

14,080,710

14,869,805

1,169,199

1,019,083

1,185,615

1,112,502

670,261

622,064

20,613,652

20,805,559

9,154,921

9,634,408

16.00

16.00

Net Sales(In thousands of yen)
Operating Income(In thousands of yen)
Ordinary Income(In thousands of yen)[Current] Net Income(In thousands of yen)
Total Assets(In thousands of yen)
Shareholders’ Equity(In thousands of yen)
Dividends per Share(yen)2.

Scheduled Date of Change in Subsidiary
Tuesday, September 26, 2006

3.

Effect on Forecast

As a result of the Tender Offer, the Target will become a consolidated subsidiary of Sumitomo
Warehouse.

The future business performance of Sumitomo Warehouse for the Fiscal Yearending March 31, 2007 will be announced officially as soon as it becomes apparent.

- End of Document --7-