February 5, 2008

Summary of Financial Statements for the Nine-Month Period Ended December 31, 2007
Company Name:

Mitsubishi Estate Co., Ltd.

Listed Stock Exchanges: Tokyo, Osaka, Nagoya, Fukuoka, Sapporo

Securities Code:
Representative:

8802
Keiji Kimura, President & CEO
Toshihiko Kazama, Executive Officer & General
Manager of Corporate Communications

URL: http://www.mec.co.jp

Inquiries:

TEL: +81-3-3287-5200*Figures are rounded down to the nearest million.

１．Consolidated Results for the Nine-Month Period Ended December 31, 2007 (April 1, 2007 – December 31, 2007)* Percent figures for revenue from operations, operating income, income before taxes and special items, and net income express percentage change from thesame period of the previous fiscal year.
(1) Consolidated Results
Revenue from Operations
Millions of yen%

Nine months ended Dec. 31, 2007

485,010(20.5)

Nine months ended Dec. 31, 2006

610,2239.1

FY2007

947,641－EPS

Income before Taxes

Operating Income
Millions of yen

Net Incomeand Special Items%

Millions of yen%

Millions of yen%

92,226 (16.6)

77,687 (18.6)

43,541 (13.0)

110,534

18.4

95,38822.1

50,06447.9

166,165－

151,674－

97,662－

Diluted EPS
Yen

Yen

Nine months ended Dec. 31, 2007

31.54

31.53

Nine months ended Dec. 31, 2006

36.41

36.25

FY2007(*)

70.95

70.71

(*)FY2007=April 1,2006 － March 31, 2007
FY2008=April 1,2007 － March 31, 2008

(2) Consolidated Financial Position
Total Assets

Net Assets

Millions of yen

Total Equity to Total Assets

Millions of yen

Net Assets per Share%

Yen

As of Dec. 31, 2007

3,838,380

1,261,587

31.7

881.77

As of Dec. 31, 2006

3,197,380

1,198,569

36.4

842.90

As of Mar. 31, 2007

3,447,272

1,260,90835.6

887.79(3) Consolidated Cash Flows

Nine months
ended Dec. 31, 2007
Nine months
ended Dec. 31, 2006
FY2007

Cash Flows

Cash Flows

Cash Flows

Cash and Cash Equivalents atfrom Operating Activities

from Investing Activities

from Financing Activities

End of Period

Millions of yen

Millions of yen

Millions of yen

Millions of yen(101,293)(208,079)

235,146

136,730(8,573)(69,755)(25,304)

65,387150,710(85,389)(34,093)

206,089-1-２．Dividends
Fiscal 2008 planned year-end dividend announced on October 31, 2007 in conjunction with forecast of consolidated financial results for FY2008 remainsunchanged.
Dividends per share(Date of Record)InterimYear-End

Annual

Yen

Yen

Yen

FY2007

6.00

8.00

14.00

FY2008 (Actual)

8.00

FY2008 Planned-

16.00

-

8.00

３．Forecast of Consolidated Financial Results for the FY2008 (April 1, 2007—March 31, 2008)
As of the date of this report, forecast of consolidated financial results for FY 2008 announced on October 31, 2007 remains unchanged.
*Percent figures for revenue from operations, operating income, income before taxes and special items, and net income express percentage change from the same
period of the previous fiscal year.
Income before Taxes

Revenue from Operations

Operating Income

Millions of yen%

Millions of yen%

Millions of yen%

Millions of yen%

Yen

789,000(16.7)

169,500

2.0

156,500

3.2

85,000(13.0)

61.57

FY2008Net Incomeand Special Items

EPS

４．Others(1) Changes to significant subsidiaries during the period under review (Changes to specified subsidiaries accompanying changes in the scope of consolidation): Yes
Newly included: 1 Silent Partnership MEC Asset Holdings Co., Ltd. (The Bank of Tokyo-Mitsubishi UFJ Otemachi Building)

Removed: 0(2) Adoption of the simplified accounting method: No(3) Changes in accounting policies from the most recent consolidated fiscal year: No[Disclaimer regarding the use of forward-looking statements]
The forecasts and projected operating results contained in this report are based on information and data available to the Company at the time of disclosure aswell as certain assumptions deemed rational. Therefore, actual performance may differ significantly from such forecasts due to a variety of factors.
[Other Special Instructions]1.

Mitsubishi Estate Co., Ltd. underwrote the third-party allocation of new shares by TOWA REAL ESTATE DEVELOPMENT CO., LTD. on January 7,
2008. As a result, TOWA REAL ESTATE DEVELOPMENT became a subsidiary of Mitsubishi Estate. In light of the aforementioned, TOWA REALESTATE DEVELOPMENT, currently an affiliated company accounted for by the equity method, will be included in Mitsubishi Estate’s scope ofconsolidated as a subsidiary company for accounting purposes as of the end of the fiscal year ending March 31, 2008.

2.

Mitsubishi Estate Co., Ltd. decided to boost its stake in Sunshine City Corp., an affiliated company accounted for by the equity method following
ratification at a Board of Directors’ meeting held on February 4, 2008. The Company currently holds 12,376,300 shares, or 32.23% of Sunshine City
Corp.’s issued and outstanding shares, and plans to acquire an additional equity shareholding of up to 10,663,700 shares, or 27.77%, by way of publictender offer.

-2-

(Reference) Non-Consolidated Results
１．Non-Consolidated Results for the Third Quarter of FY2008(April 1, 2007 – December 31, 2007)* Percent figures for revenue from operations, operating income, income before taxes and special items, and net income express percentage change from thesame period of the previous fiscal year.
(1) Non-Consolidated Results
Revenue from Operations
Millions of yen
Nine months
ended Dec. 31, 2007
Nine months
ended Dec. 31, 2006
FY2007

Income before Taxes

Operating Income

Net Incomeand Special Items%

Millions of yen%

Millions of yen%

Millions of yen%

311,566 (3.4)

65,833(22.6)

57,975(22.5)

36,862(5.8)

322,6226.3

85,01326.7

74,81730.9

39,15225.6

510,190－121,193－105,774－

51,658－EPS
YenNine months

26.70

ended Dec. 31, 2007
Nine months

28.47

ended Dec. 31, 2006
FY200737.53(2) Non-Consolidated Financial Position
Total Assets

As of Dec. 31, 2007

Net Assets

Total Equity to Total Assets

EPS

Millions of yen

Millions of yen%

Yen

3,111,943

1,126,900

36.2

816.14As of Dec. 31, 2006

2,824,049

1,113,29039.4

806.29As of Mar. 31, 2007

3,001,119

1,137,962

37.9

824.21-3-