Document:

Integration Agreement

 
Exhibit 4(a) 
  
 INTEGRATION
AGREEMENT, DATED FEBRUARY 18, 2005 
 AND AMENDMENT THERETO, DATED APRIL 20, 2005 
 (English Translation) 
  
 INTEGRATION AGREEMENT 
  
 This Integration Agreement (this “Agreement”) is made and entered into by and among Mitsubishi Tokyo Financial Group, Inc. (“MTFG”), The Bank of Tokyo-Mitsubishi Limited (“BTM”), The
Mitsubishi Trust and Banking Corporation (“Mitsubishi Trust”) and Mitsubishi Securities Co., Ltd. (“Mitsubishi Securities”; and together with MTFG, BTM and Mitsubishi Trust, collectively, the “Mitsubishi Group
Companies”), and UFJ Holdings, Inc. (“UFJ Holdings”), UFJ Bank Limited (“UFJ Bank”), UFJ Trust Bank Limited (“UFJ Trust”) and UFJ Tsubasa Securities Co., Ltd. (“UFJ Securities”; and together with UFJ
Holdings, UFJ Bank and UFJ Trust, collectively, the “UFJ Group Companies”), with respect to the integration of the business operations of each of the Mitsubishi Group Companies and each of the UFJ Group Companies. 
  
 ARTICLE I.    PURPOSE OF THIS AGREEMENT, ETC.

  
 Section 1.    (Purpose of This Agreement)

  
 The purpose of this Agreement shall be to provide for the
structure of the business integration of each of the Mitsubishi Group Companies and each of UFJ Group Companies, the merger ratios, the terms and conditions of the mergers and other related matters, under the terms and conditions set forth in this
Agreement, with respect to the business integration of each of the Mitsubishi Group Companies and each of UFJ Group Companies (the “Business Integration”) as set forth in Sections 2, 10, 16 and 22 of the Basic Memorandum of Agreement (as
defined below). The Business Integration contemplates: 
  

	 	(1)	 	in the current environment where the needs of domestic and foreign customers are becoming more diversified and advanced, by virtue of the Business Integration, to create the
“world’s leading comprehensive financial group” which can succeed in global competition and provide customers with products and services at the highest level; 

  

	 	(2)	 	by virtue of the Business Integration, to create a highly competitive group of companies and a presence in the field of major financial business such as banking, trust, securities,
investment trust, credit cards, consumer financing and leasing, and dramatically strengthen its system to comprehensively and flexibility respond to all the needs of customers through close coordination among the group companies;

  

	 	(3)	 	by virtue of the Business Integration, to build on the strengths of both the financial group led by MTFG and the financial group led by UFJ Holdings, which highly complement each
other in terms of business operations and branch office networks, by developing businesses in a well-balanced manner in the Tokyo metropolitan area, the Chubu area and the Kansai area in Japan, and also having the largest global network among
Japanese banks with a wide variety of customers from individuals to small and medium-sized companies to large corporations, and to further enrich the products and services and seek to return to customers and shareholders the benefit from the
business integration, by pursuing the efficiency of group operations taken as a whole; and 

  

	 	(4)	 	to integrate the financial group led by MTFG and the financial group led by UFJ Holdings with a sprit of equality, to create a corporate culture which, based on the principles of
reliance and trust, enables employees to maximize their abilities, and to further reinforce and improve corporate governance systems, thereby contributing to the prosperity of customers, society and the economy as a truly reliable comprehensive
financial group, while striving to increase shareholder value. 

  

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 Section 2.    (Definitions) 
  
 In this Agreement, the following terms shall have the respective meanings indicated below: 
  

	 	(1)	 	“Merger Agreement Scheduled Execution Date” means the last day of April 2005. 

  

	 	(2)	 	“Merger Between Banks” means the merger to be conducted in accordance with Section 14. 

  

	 	(3)	 	“Merger Agreement Between Banks” has the meaning set forth in Section 18. 

  

	 	(4)	 	“Material Adverse Effect” means, with respect to the relevant party, (i) an effect which is material and adverse to the financial condition, results of operations,
cash-flow, and/or business or future revenue plan, on a consolidated basis, or (ii) a material obstacle to the ability to timely perform any important obligation under this Agreement or the relevant Merger Agreement. 

  

	 	(5)	 	“Merger Between Securities Companies” means the merger to be conducted in accordance with Section 34. 

  

	 	(6)	 	“Merger Agreement Between Securities Companies” has the meaning set forth in Section 39. 

  

	 	(7)	 	“New Bank” means BTM after the Merger Between Banks. 

  

	 	(8)	 	“New Securities Company” means Mitsubishi Securities after the Merger Between Securities Companies. 

  

	 	(9)	 	“New Trust Bank” means Mitsubishi Trust after the Merger Between Trust Banks. 

  

	 	(10)	 	“Merger Between Trust Banks” means the merger to be conducted in accordance with Section 24. 

  

	 	(11)	 	“Merger Agreement Between Trust Banks” has the meaning set forth in Section 28. 

  

	 	(12)	 	“New Holding Company” means MTFG after the Merger Between Holding Companies. 

  

	 	(13)	 	“Damages, etc.” has the meaning set forth in Section 58. 

  

	 	(14)	 	“Third Party Collaborations” has the meaning set forth in Section 47(5). 

  

	 	(15)	 	“Third Party Collaboration Solicitations” has the meaning set forth in Section 47(5). 

  

	 	(16)	 	“Merger Agreements” means, collectively, the Merger Agreement Between Holding Companies, the Merger Agreement Between Banks, the Merger Agreement Between Trust Banks and
the Merger Agreement Between Securities Companies. 

  

	 	(17)	 	“Mergers” means, collectively, the Merger Between Holding Companies, the Merger Between Banks, the Merger Between Trust Banks and the Merger Between Securities Companies.

  

	 	(18)	 	“Basic Memorandum of Agreement” means the Basic Memorandum of Agreement dated August 12, 2004 by and among the parties hereto. 

  

	 	(19)	 	“Basic Agreement of Recapitalization” means the Basic Agreement of Recapitalization dated September 10, 2004 by and among MTFG, UFJ Holdings and UFJ Bank.

  

	 	(20)	 	“Merger Between Holding Companies” means the merger to be conducted in accordance with Section 3. 

  

	 	(21)	 	“Merger Agreement Between Holding Companies” has the meaning set forth in Section 8. 

  
 ARTICLE II.    MERGER BETWEEN HOLDING COMPANIES 
  
 Section 3.    (Merger Between Holding Companies) 
  
 UFJ Holdings shall merge with and into MTFG, with MTFG being the surviving
company and UFJ Holdings being the dissolving company. 
  

 2 

 Section 4.    (Corporate Name) 
  

	4.1.	 	The corporate name of the New Holding Company shall be “Kabushiki Kaisha Mitsubishi UFJ Financial Group.” 

  

	4.2.	 	The English corporate name of the New Holding Company shall be “Mitsubishi UFJ Financial Group, Inc.” 

  
 Section 5.    (Location of Head Office) 
  
 The New Holding Company shall have its head office at 2-7-1, Marunouchi,
Chiyoda-ku. 
  
 Section 6.    (Stock Exchanges)

  
 The stock exchanges on which the common stock, or
American Depository Receipts representing the common stock, of the New Holding Company shall be listed are the Tokyo Stock Exchange, Osaka Securities Exchange, Nagoya Stock Exchange, New York Stock Exchange and London Stock Exchange. 
  
 Section 7.    (Officers) 
  
 The Chairman (kaicho), the Deputy Chairman (fuku kaicho) and
the President (shacho) of the New Holding Company shall be Ryosuke Tamakoshi, Haruya Uehara and Nobuo Kuroyanagi, respectively. 
  
 Section 8.    (Merger Agreement Between Holding Companies) 
  
 MTFG and UFJ Holdings shall enter into a merger agreement as prescribed in Article 408 of the Commercial Code of Japan in
connection with the Merger Between Holding Companies (the “Merger Agreement Between Holding Companies”) following the execution of this Agreement and on or prior to the Merger Agreement Scheduled Execution Date. The provisions in this
Agreement that are also required to be prescribed in the Merger Agreement Between Holding Companies shall be prescribed therein in accordance with the terms and conditions of this Agreement. 
  
 Section 9.     (Date of the Merger and Shareholders’ Meetings to
Approve the Merger) 
  

	9.1.	 	The date of the Merger Between Holding Companies shall be October 1, 2005; provided, however, that MTFG and UFJ Holdings may change the date of such merger upon
agreement through separate consultations between them, if they consider such change to be necessary for the purpose of effectuating the Mergers or other reasons. 

  

	9.2.	 	Subject to the terms and conditions set forth in this Agreement, each of MTFG and UFJ Holdings shall convene their respective annual shareholders’ meeting (in the case of MTFG,
its annual shareholders’ meeting will also be deemed as the class shareholders’ meeting of the ordinary shares) that are scheduled to be held in late June, 2005, and shall seek shareholder approval of the Merger Agreement Between Holding
Companies and the resolutions required for the Merger Between Holding Companies. 

  

	9.3.	 	Subject to the terms and conditions set forth in this Agreement, MTFG shall convene class shareholders’ meetings of the Class 1 preferred shares and Class 3 preferred shares,
respectively, within the last ten days of June 2005, and shall seek class shareholder approval of the Merger Agreement Between Holding Companies and the resolutions required for the Merger Between Holding Companies. 

  

	9.4.	 	Subject to the terms and conditions set forth in this Agreement, UFJ Holdings shall convene class shareholders’ meetings of the ordinary shares, Series 1 of Class 1 preferred
shares, Series 2 of Class 2 preferred shares, Series 4 of Class 4 preferred shares, Series 5 of Class 5 preferred shares, Series 6 of Class 6 preferred shares and Series 7 of Class 7 preferred shares, respectively, within the last ten days of
June 2005, and shall seek shareholder approval of the Merger Agreement Between Holding Companies and the resolutions required for the Merger Between Holding Companies at each such meeting. 

  

 3 

 Section 10.    (Merger Ratio) 
  
 MTFG and UFJ Holdings agree with respect to the merger ratio of the Merger Between Holding Companies: 
  

	10.1.	 	Upon the Merger Between Holding Companies, MTFG shall newly issue shares of common stock in a number equal to the product obtained by multiplying the (x) total number of shares of
common stock of UFJ Holdings held by the shareholders (the term “shareholder” being hereinafter defined as including a beneficial shareholder) entered or recorded in the latest shareholder register (the term “shareholder
register” being hereinafter defined as including a beneficial shareholder register) of UFJ Holdings as of the day immediately preceding the date of the merger by (y) 0.62, and allot and deliver such newly issued shares to the shareholders of
common stock of UFJ Holdings at a rate of 0.62 shares of common stock of MTFG per share of common stock of UFJ Holdings. 

  

	10.2.	 	Upon the Merger Between Holding Companies, MTFG shall newly issue shares of preferred stock (upon substantially the same terms and conditions as those of the Series 2 of Class 2
preferred shares of UFJ Holdings, except for any modifications required to adjust the conversion price in accordance with the merger ratio) in a number equal to the total number of the Series 2 of Class 2 preferred shares of UFJ Holdings held by the
shareholders entered or recorded in the latest shareholder register of UFJ Holdings as of the day immediately preceding the date of the merger, and allot and deliver such newly issued shares to the shareholders of Series 2 of Class 2 preferred stock
of UFJ Holdings at a rate of 1 share of preferred stock to be issued pursuant to this Section 10.2 per share of the Series 2 of Class 2 preferred stock of UFJ Holdings. 

  

	10.3.	 	Upon the Merger Between Holding Companies, MTFG shall newly issue shares of preferred stock (upon substantially the same terms and conditions as those of the Series 4 of Class 4
preferred shares of UFJ Holdings, except for any modifications required to adjust the conversion price in accordance with the merger ratio) in a number equal to the total number of the Series 4 of Class 4 preferred shares of UFJ Holdings held by the
shareholders entered or recorded in the latest shareholder register of UFJ Holdings as of the day immediately preceding the date of the merger, and allot and deliver such newly issued shares to the shareholders of the Series 4 of Class 4 preferred
stock of UFJ Holdings at a rate of 1 share of preferred stock to be issued pursuant to this Section 10.3 per share of the Series 4 of Class 4 preferred stock of UFJ Holdings. 

  

	10.4.	 	Upon the Merger Between Holding Companies, MTFG shall newly issue shares of preferred stock (upon substantially the same terms and conditions as those of the Series 5 of Class 5
preferred shares of UFJ Holdings, except for any modifications required to adjust the conversion price in accordance with the merger ratio) in a number equal to the total number of the Series 5 of Class 5 preferred shares of UFJ Holdings held by the
shareholders entered or recorded in the latest shareholder register of UFJ Holdings as of the day immediately preceding the date of the merger, and allot and deliver such newly issued shares to the shareholders of the Series 5 of Class 5 preferred
stock of UFJ Holdings at a rate of 1 share of preferred stock to be issued pursuant to this Section 10.4 per share of the Series 5 of Class 5 preferred stock of UFJ Holdings. 

  

	10.5.	 	Upon the Merger Between Holding Companies, MTFG shall newly issue shares of preferred stock (upon substantially the same terms and conditions as those of the Series 6 of Class 6
preferred shares of UFJ Holdings, except for any modifications required to adjust the conversion price in accordance with the merger ratio) in a number equal to the total number of the Series 6 of Class 6 preferred shares of UFJ Holdings held by the
shareholders entered or recorded in the latest shareholder register of UFJ Holdings as of the day immediately preceding the date of the merger, and allot and deliver such newly issued shares to the shareholders of the Series 6 of Class 6 preferred
stock of UFJ Holdings at a rate of 1 share of preferred stock to be issued pursuant to this Section 10.5 per share of the Series 6 of Class 6 preferred stock of UFJ Holdings. 

  

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	10.6.	 	Upon the Merger Between Holding Companies, MTFG shall newly issue shares of preferred stock (upon substantially the same terms and conditions as those of the Series 7 of Class 7
preferred shares of UFJ Holdings, except for any modifications required to adjust the conversion price in accordance with the merger ratio) in a number equal to the total number of the Series 7 of Class 7 preferred shares of UFJ Holdings held by the
shareholders entered or recorded in the latest shareholder register of UFJ Holdings as of the day immediately preceding the date of the merger, and allot and deliver such newly issued shares to the shareholders of the Series 7 of Class 7 preferred
stock of UFJ Holdings at a rate of 1 share of preferred stock to be issued pursuant to this Section 10.6 per share of the Series 7 of Class 7 preferred stock of UFJ Holdings. 

  
 Section 11.    (Merger-Related Cash Distributions) 
  
 MTFG shall make no payment of merger-related cash distributions upon the
Merger Between Holding Companies. 
  
 Section
12.    (Maximum Amount of Dividends) 
  

	12.1.	 	MTFG may pay to the shareholders and registered pledgees entered or recorded in its latest shareholder register as of March 31, 2005 dividends in such amount as is separately agreed
upon by MTFG and UFJ Holdings for each class of shares, subject to approval at the annual shareholders’ meeting to be held within the last ten days of June 2005. 

  

	12.2.	 	The New Holding Company may pay to the shareholders and registered pledgees entered or recorded in the latest shareholder register as of September 30, 2005 interim dividends in such
amount as is separately agreed upon between MTFG and UFJ Holdings for each class of shares. 

  
 Section 13.    (Loss of Effect, Termination Events, Etc.) 
  

	13.1.	 	The Merger Agreement Between Holding Companies shall cease to be effective if: 

  

	 	(1)	 	the Merger Agreement Between Holding Companies is not approved at any of the shareholders’ meetings of either MTFG or UFJ Holdings in accordance with Sections 9.2 through 9.4
hereof; or 

  

	 	(2)	 	the approvals, etc., of the relevant authorities that are required by the laws of Japan or relevant foreign countries are not obtained prior to the date of the merger, or such
approvals, etc. are obtained subject to any condition or restriction that may result in a material obstacle to achieving the purposes of the Business Integration. 

  

	13.2.	 	MTFG and UFJ Holdings shall determine, upon agreement through separate consultations between them, any other event of termination of the Merger Agreement Between Holding Companies
and other related matters, in addition to those provided for in this Agreement. 

  
 ARTICLE III.    MERGER BETWEEN BANKS 
  
 Section 14.    (Merger Between Banks) 
  
 UFJ Bank shall merge with and into BTM, with BTM being the surviving company and UFJ Bank being the dissolving company. 
  
 Section 15.    (Corporate Name) 
  

	15.1.	 	The corporate name of the New Bank shall be “Kabushiki Kaisha Mitsubishi Tokyo UFJ Bank.” 

  

	15.2.	 	The English corporate name of the New Bank shall be “The Bank of Tokyo-Mitsubishi UFJ, Ltd.” 

  

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 Section 16.    (Location of Head Office) 
  
 The New Bank shall have its head office at 2-7-1, Marunouchi, Chiyoda-ku.

  
 Section 17.    (Officers) 
  
 The Chairman (kaicho), the Deputy Chairman (fuku kaicho) and
the President (todori) of the New Bank shall be Shigemitsu Miki, Ryosuke Tamakoshi and Nobuo Kuroyanagi, respectively. 
  
 Section 18.    (Merger Agreement Between Banks) 
  
 BTM and UFJ Bank shall enter into a merger agreement as prescribed in Article 408 of the Commercial Code of Japan in connection with the Merger Between
Banks (the “Merger Agreement Between Banks”) following the execution of this Agreement and on or prior to the Merger Agreement Scheduled Execution Date. The provisions in this Agreement that are also required to be prescribed in the Merger
Agreement Between Banks shall be prescribed therein in accordance with the terms and conditions of this Agreement. 
  
 Section 19.    (Date of the Merger and Shareholders’ Meetings to Approve the Merger) 
  

	19.1.	 	The date of the Merger Between Banks shall be October 1, 2005; provided, however, that MTFG, BTM, UFJ Holdings and UFJ Bank may change the date of such merger
upon agreement through separate consultations among them, if they consider such change to be necessary for the purpose of effectuating the Mergers or other reasons. 

  

	19.2.	 	Subject to the terms and conditions set forth in this Agreement, each of BTM and UFJ Bank shall convene their respective annual shareholders’ meeting (in the case of BTM, its
annual shareholders’ meeting will also be deemed as the class shareholders’ meeting of the ordinary shares) within the last ten days of June 2005, and shall seek shareholder approval of the Merger Agreement Between Banks and the
resolutions required for the Merger Between Banks. MTFG and UFJ Holdings shall exercise their respective voting rights in favor of the resolution to approve the Merger Agreement Between Banks at such annual shareholders’ meetings.

  

	19.3.	 	Subject to the terms and conditions set forth in this Agreement, BTM shall convene class shareholders’ meeting of the preferred shares within the last ten days of June 2005,
and shall seek class shareholder approval of the Merger Agreement Between Banks and the resolutions required for the Merger Between Banks. MTFG shall exercise its voting rights in favor of the resolution to approve the Merger Agreement Between Banks
at such shareholders’ meeting. 

  

	19.4.	 	Subject to the terms and conditions set forth in this Agreement, UFJ Bank shall convene class shareholders’ meetings of the ordinary shares, Series 1 of preferred shares,
Series 1 of Class A preferred shares, Series 1 of Class D preferred shares, Series 2 of Class D preferred shares, Series 1 of Class E preferred shares, Series 1 of Class G preferred Shares and Series 2 of Class G preferred shares, respectively,
within the last ten days of June 2005, and shall seek shareholder approval of the Merger Agreement Between Banks and the resolutions required for the Merger Between Banks at each such meeting. UFJ Holdings and MTFG shall exercise their respective
voting rights in favor the resolution to approve the Merger Agreement Between Banks at such shareholders’ meetings. 

  
 Section 20.    (Merger Ratio) 
  
 BTM and UFJ Bank agree with respect to the merger ratio of the Merger Between Banks: 
  

	20.1.	 	 Upon the Merger Between Banks, BTM shall newly issue shares of common stock in a number equal to the product obtained by multiplying the (x) total number of shares
of common stock of UFJ Bank held by the shareholders entered or recorded in the latest shareholder register of UFJ Bank as of the day immediately 

  

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preceding the date of the merger by (y) 0.62, and allot and deliver such newly issued shares to the shareholders of common stock of UFJ Bank at a rate of
0.62 shares of common stock of BTM per share of common stock of UFJ Bank. 

  

	20.2.	 	Upon the Merger Between Banks, BTM shall newly issue share of preferred stock (upon substantially the same terms and conditions as those of the Series 1 of Class A preferred shares
of UFJ Bank, except for any modifications required to adjust the conversion price in accordance with the merger ratio) in a number equal to the total number of the Series 1 of Class A preferred shares of UFJ Bank held by the shareholders entered or
recorded in the latest shareholder register of UFJ Bank as of the day immediately preceding the date of the merger, and allot and deliver such newly issued shares to the shareholders of Series 1 of Class A preferred stock of UFJ Bank at a rate of 1
share of preferred stock to be issued pursuant to this Section 20.2 per share of the Series 1 of Class A preferred stock of UFJ Bank. 

  

	20.3.	 	Upon the Merger Between Banks, BTM shall newly issue shares of preferred stock (upon substantially the same terms and conditions as those of the Series 1 of Class D preferred shares
of UFJ Bank, except for any modifications required to adjust the conversion price in accordance with the merger ratio) in a number equal to the total number of the Series 1 of Class D preferred shares of UFJ Bank held by the shareholders entered or
recorded in the latest shareholder register of UFJ Bank as of the day immediately preceding the date of the merger, and allot and deliver such newly issued shares to the shareholders of the Series 1 of Class D preferred stock of UFJ Bank at a rate
of 1 share of preferred stock to be issued pursuant to this Section 20.3 per share of the Series 1 of Class D preferred stock of UFJ Bank. 

  

	20.4.	 	Upon the Merger Between Banks, BTM shall newly issue shares of preferred stock (upon substantially the same terms and conditions as those of the Series 2 of Class D preferred shares
of UFJ Bank, except for any modifications required to adjust the conversion price in accordance with the merger ratio) in a number equal to the total number of the Series 2 of Class D preferred shares of UFJ Bank held by the shareholders entered or
recorded in the latest shareholder register of UFJ Bank as of the day immediately preceding the date of the merger, and allot and deliver such newly issued shares to the shareholders of the Series 2 of Class D preferred stock of UFJ Bank at a rate
of 1 share of preferred stock to be issued pursuant to this Section 20.4 per share of the Series 2 of Class D preferred stock of UFJ Bank. 

  

	20.5.	 	Upon the Merger Between Banks, BTM shall newly issue shares of preferred stock (upon substantially the same terms and conditions as those of the Series 1 of Class E preferred shares
of UFJ Bank) in a number equal to the total number of the Series 1 of Class E preferred shares of UFJ Bank held by the shareholders entered or recorded in the latest shareholder register of UFJ Bank as of the day immediately preceding the date of
the merger, and allot and deliver such newly issued shares to the shareholders of the Series 1 of Class E preferred stock of UFJ Bank at a rate of 1 share of preferred stock to be issued pursuant to this Section 20.5 per share of the Series 1 of
Class E preferred stock of UFJ Bank. 

  

	20.6.	 	Upon the Merger Between Banks, BTM shall newly issue shares of preferred stock (upon substantially the same terms and conditions as those of the Series 1 of Class G preferred shares
of UFJ Bank) in a number equal to the total number of the Series 1 of Class G preferred shares of UFJ Bank held by the shareholders entered or recorded in the latest shareholder register of UFJ Bank as of the day immediately preceding the date of
the merger, and allot and deliver such newly issued shares to the shareholders of the Series 1 of Class G preferred stock of UFJ Bank at a rate of 1 share of preferred stock to be issued pursuant to this Section 20.6 per share of the Series 1 of
Class G preferred stock of UFJ Bank. 

  

	20.7.	 	Upon the Merger Between Banks, BTM shall newly issue shares of preferred stock (upon substantially the same terms and conditions as those of the Series 2 of Class G preferred shares
of UFJ Bank) in a number equal to the total number of the Series 2 of Class G preferred shares of UFJ Bank held by the shareholders entered or recorded in the latest shareholder register of UFJ Bank as of the day immediately preceding the date of
the merger, and allot and deliver such newly issued shares to the shareholders of the Series 2 of Class G preferred stock of UFJ Bank at a rate of 1 share of preferred stock to be issued pursuant to this Section 20.7 per share of the Series 2 of
Class G preferred stock of UFJ Bank. 

  

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 Section 21.    (Merger–Related Cash Distributions) 
  
 BTM shall make no payment of merger-related cash distributions upon the
Merger Between Banks. 
  
 Section 22.    (Maximum Amount of
Dividends) 
  

	22.1.	 	BTM may pay to the shareholders and registered pledgees entered or recorded in its latest shareholder register as of March 31, 2005 dividends in such amount as is separately agreed
upon by BTM and UFJ Bank for each class of shares, subject to approval at the annual shareholders’ meeting to be held within the last ten days of June 2005. 

  

	22.2.	 	The New Bank may pay to the shareholders and registered pledgees entered or recorded in the latest shareholder register as of September 30, 2005 interim dividends in such amount as
separately agreed upon between BTM and UFJ Bank, for each class of shares. 

  
 Section 23.    (Loss of Effect, Termination Events, Etc.) 
  

	23.1.	 	The Merger Agreement Between Banks shall cease to be effective if: 

  

	 	(1)	 	the Merger Agreement Between Banks is not approved at any of the shareholders’ meeting of either BTM or UFJ Bank in accordance with Sections 19.2 through 19.4 hereof;

  

	 	(2)	 	the Merger Agreement Between Holding Companies ceases to be effective for any reason; or 

  

	 	(3)	 	the approvals, etc., of the relevant authorities that are required by the laws of Japan or relevant foreign countries are not obtained prior to the date of the merger, or such
approvals, etc. are obtained subject to any condition or restriction that may result in a material obstacle to achieving the purposes of the Business Integration. 

  

	23.2.	 	MTFG, BTM, UFJ Holdings and UFJ Bank shall determine, upon agreement through separate consultations among them, any other event of termination of the Merger Agreement Between Banks
and other related matters, in addition to those provided for in this Agreement. 

  
 ARTICLE IV.    MERGER BETWEEN TRUST BANKS 
  
 Section 24.    (Merger Between Trust Banks) 
  
 UFJ Trust shall merge with and into Mitsubishi Trust, with Mitsubishi Trust being the surviving company and UFJ Trust being the dissolving company.

  
 Section 25.    (Corporate Name) 
  

	25.1.	 	The corporate name of the New Trust Bank shall be “Mitsubishi UFJ Trust Bank Kabushiki Kaisha.” 

  

	25.2.	 	The English corporate name of the New Trust Bank shall be “Mitsubishi UFJ Trust and Banking Corporation.” 

  
 Section 26.    (Location of Head Office) 
  
 The New Trust Bank shall have its head office at 1-4-5, Marunouchi,
Chiyoda-ku. 
  
 Section 27.    (Officers) 

 
 The Chairman (kaicho) and the President (shacho) of the New
Trust Bank shall be Akio Utsumi and Haruya Uehara, respectively. 
  

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 Section 28.    (Merger Agreement Between Trust Banks) 
  
 Mitsubishi Trust and UFJ Trust shall enter into a merger agreement as
prescribed in Article 408 of the Commercial Code of Japan in connection with the Merger Between Trust Banks (the “Merger Agreement Between Trust Banks”) following the execution of this Agreement and on or prior to the Merger Agreement
Scheduled Execution Date. The provisions in this Agreement that are also required to be prescribed in the Merger Agreement Between Trust Banks shall be prescribed therein in accordance with the terms and conditions of this Agreement. 
  
 Section 29.    (Date of the Merger and Shareholders’ Meetings to
Approve the Merger) 
  

	29.1.	 	The date of the Merger Between Trust Banks shall be October 1, 2005; provided, however, that the MTFG, Mitsubishi Trust, UFJ Holdings and UFJ Trust may change the date
of such merger upon agreement through separate consultations among them, if they consider such change to be necessary for the purpose of effectuating the Mergers or other reasons. 

  

	29.2.	 	Subject to the terms and conditions set forth in this Agreement, each of Mitsubishi Trust and UFJ Trust shall convene their respective annual shareholders’ meeting (in the case
of Mitsubishi Trust, its annual shareholders’ meeting will also be deemed as the class shareholders’ meeting of the ordinary shares) within the last ten days of June 2005, and shall seek shareholder approval of the Merger Agreement Between
Trust Banks and the resolutions required for the Merger Between Trust Banks. MTFG and UFJ Holdings shall exercise their respective voting rights in favor of the resolution to approve the Merger Agreement Between Trust Banks at such annual
shareholders’ meetings. 

  

	29.3.	 	Subject to the terms and conditions set forth in this Agreement, UFJ Trust shall convene class shareholders’ meetings of the ordinary shares, Series 1 of Class 1 preferred
shares and Series 2 of Class 1 preferred shares, respectively, within the last ten days of June 2005, and shall seek class shareholder approval of the Merger Agreement Between Trust Banks and the resolutions required for the Merger Between Trust
Banks. UFJ Holdings shall exercise its voting rights in favor of the resolution to approve the Merger Agreement Between Trust Banks at such shareholders’ meetings. 

  
 Section 30.    (Merger Ratio) 
  
 Mitsubishi Trust and UFJ Trust agree with respect to the merger ratio of the Merger Between Trust Banks: 
  

	30.1.	 	Upon the Merger Between Trust Banks, Mitsubishi Trust shall newly issue shares of common stock in a number equal to the product obtained by multiplying the (x) total number of
shares of common stock of UFJ Trust held by the shareholders entered or recorded in the latest shareholder register of UFJ Trust as of the day immediately preceding the date of the merger by (y) 0.62, and allot and deliver such newly issued shares
to the shareholders of common stock of UFJ Trust at a rate of 0.62 shares of common stock of Mitsubishi Trust per share of common stock of UFJ Trust. 

  

	30.2.	 	Upon the Merger Between Trust Banks, Mitsubishi Trust shall newly issue shares of preferred stock (upon substantially the same terms and conditions as those of the Series 1 of Class
1 preferred shares of UFJ Trust, except for any modifications required to adjust the conversion price in accordance with the merger ratio) in a number equal to the total number of the Series 1 of Class 1 preferred shares of UFJ Trust held by the
shareholders entered or recorded in the latest shareholder register of UFJ Trust as of the day immediately preceding the date of the merger, and allot and deliver such newly issued shares to the shareholders of the Series 1 of Class 1 preferred
stock of UFJ Trust at a rate of 1 share of preferred stock to be issued pursuant to this Section 30.2 per share of the Series 1 of Class 1 preferred stock of UFJ Trust. 

  

	30.3.	 	 Upon the Merger Between Trust Banks, Mitsubishi Trust shall newly issue shares of preferred stock (upon substantially the same terms and conditions as those of the
Series 2 of Class 1 preferred shares of UFJ 

  

 9 

	 	 
Trust, except for any modifications required to adjust the conversion price in accordance with the merger ratio) in a number equal to the total number of the
Series 2 of Class 1 preferred shares of UFJ Trust held by the shareholders entered or recorded in the latest shareholder register of UFJ Trust as of the day immediately preceding the date of the merger, and allot and deliver such newly issued shares
to the shareholders of the Series 2 of Class 1 preferred stock of UFJ Trust at a rate of 1 share of preferred stock to be issued pursuant to this Section 30.3 per share of the Series 2 of Class 1 preferred stock of UFJ Trust.

  
 Section 31.    (Merger-Related Cash
Distributions) 
  
 Mitsubishi Trust shall make no payment of
merger-related cash distributions upon the Merger Between Trust Banks. 
  
 Section 32.    (Maximum Amount of Dividends) 
  

	32.1.	 	Mitsubishi Trust may pay to the shareholders and registered pledgees entered or recorded in its latest shareholder register as of March 31, 2005 dividends in such amount as is
separately agreed upon by Mitsubishi Trust and UFJ Trust for each class of shares, subject to approval at the annual shareholders’ meeting to be held within the last ten days of June 2005. 

  

	32.2.	 	The New Trust Bank may pay to the shareholders and registered pledgees entered or recorded in the latest shareholder register as of September 30, 2005 interim dividends in such
amount as is separately agreed upon between Mitsubishi Trust and UFJ Trust for each class of shares. 

  
 Section 33.    (Loss of Effect, Termination Events, Etc.) 
  

	33.1.	 	The Merger Agreement Between Trust Banks shall cease to be effective if: 

  

	 	(1)	 	the Merger Agreement Between Trust Banks is not approved at any of the shareholders’ meeting of either Mitsubishi Trust or UFJ Trust in accordance with Sections 29.2 and 29.3
herein; 

  

	 	(2)	 	the Merger Agreement Between Holding Companies ceases to be effective for any reason; or 

  

	 	(3)	 	the approvals, etc., of the relevant authorities that are required by the laws of Japan or relevant foreign countries are not obtained prior to the date of the merger, or such
approvals, etc. are obtained subject to any condition or restriction that may result in a material obstacle to achieving the purposes of the Business Integration. 

  

	33.2.	 	MTFG, Mitsubishi Trust, UFJ Holdings and UFJ Trust shall determine, upon agreement through separate consultations among them, any other event of termination of the Merger Agreement
Between Trust Banks and other related matters, in addition to those provided for in this Agreement. 

  
 ARTICLE V.    MERGER BETWEEN SECURITIES COMPANIES 
  
 Section 34.    (Merger Between Securities Companies) 
  

UFJ Securities shall merge with and into Mitsubishi Securities, with Mitsubishi Securities being the surviving company and UFJ Securities being the
dissolving company. The New Securities Company shall be a subsidiary directly owned by the New Holding Company. 
  
 Section 35.    (Corporate Name) 
  

	35.1.	 	The corporate name of the New Securities Company shall be “Mitsubishi UFJ Securities Kabushiki Kaisha.” 

  

	35.2.	 	The English corporate name of the New Securities Company shall be “Mitsubishi UFJ Securities Co., Ltd.” 

  

 10 

 Section 36.    (Location of Head Office) 
  
 The New Securities Company shall have its head office at 2-4-1, Marunouchi,
Chiyoda-ku. 
  
 Section 37.    (Stock Exchanges)

  
 The stock exchanges on which the common stock of the New
Securities Company shall be listed are the Tokyo Stock Exchange, Osaka Securities Exchange and Nagoya Stock Exchange. 
  
 Section 38.    (Officers) 
  
 The Chairman (kaicho), the Deputy Chairman (fuku kaicho) and the President (shacho) of the New Securities shall be Yasumasa Gomi, Koichi
Kane and Kimisuke Fujimoto, respectively. 
  
 Section
39.    (Merger Agreement Between Securities Companies) 
  
 Mitsubishi Securities and UFJ Securities shall enter into a merger agreement as prescribed in Article 408 of the Commercial Code of Japan in connection with the Merger Between Securities Companies (the “Merger
Agreement Between Securities Companies”) following the execution of this Agreement and on or prior to the Merger Agreement Scheduled Execution Date. The provisions in this Agreement that are also required to be prescribed in the Merger
Agreement Between Securities Companies shall be prescribed therein in accordance with the terms and conditions of this Agreement. 
  
 Section 40.    (Date of the Merger and Shareholders’ Meetings to Approve the Merger) 
  

	40.1.	 	The date of the Merger Between Securities Companies shall be October 1, 2005; provided, however, that Mitsubishi Securities and UFJ Securities may change the date of
such merger upon agreement through separate consultations between them, if they consider such change to be necessary for the purpose of effectuating the Mergers or other reasons. 

  

	40.2.	 	Subject to the terms and conditions set forth in this Agreement, each of Mitsubishi Securities and UFJ Securities shall convene their respective annual shareholders’ meeting
within the last ten days of June 2005, and shall seek the approval of the Merger Agreement Between Securities Companies and the resolutions required for the Merger Between Securities Companies. BTM, Mitsubishi Trust and UFJ Holdings shall exercise
their respective voting rights in favor of the resolution to approve the Merger Agreement Between Securities Companies at such annual shareholders’ meetings. 

  
 Section 41.    (Merger Ratio) 
  
 Mitsubishi Securities and UFJ Securities agree with respect to the merger ratio of the Merger Between Securities Companies,
upon the Merger Between Securities Companies, that Mitsubishi Securities shall newly issue shares of common stock in a number equal to the product obtained by multiplying the (x) total number of shares of common stock of UFJ Securities held by the
shareholders entered or recorded in the latest shareholder register of UFJ Securities as of the day immediately preceding the date of the merger by (y) 0.42, and allot and deliver such newly issued shares to the shareholders of common stock entered
or recorded in the latest shareholder register of UFJ Securities as of the day immediately preceding the date of the merger at a rate of 0.42 shares of common stock of Mitsubishi Securities per share of common stock of UFJ Securities. 
  
 Section 42.    (Merger-Related Cash Distributions) 
  
 Mitsubishi Securities shall make no payment of merger-related cash
distributions upon the Merger Between Securities Companies. 
  

 11 

 Section 43.    (Maximum Amount of Dividends and Treatment of Subscription Warrants)

  

	43.1.	 	Each of Mitsubishi Securities and UFJ Securities may pay to the shareholders and registered pledgees entered or recorded in its latest shareholder register as of March 31, 2005
dividends in such amount as is separately agreed upon by Mitsubishi Securities and UFJ Securities, subject to approval at its respective annual shareholders’ meeting to be held within the last ten days of June 2005. 

  

	43.2.	 	Mitsubishi Securities and UFJ Securities shall determine, upon agreement through separate consultations between them, the manner in which to treat the outstanding stock subscription
rights (shinkabu hikiuke-ken) of UFJ Securities, including, but not limited to, the manner in which to treat such stock subscription rights through issuance of stock acquisition rights (shinkabu yoyaku-ken) of Mitsubishi Securities,
UFJ Securities, or the New Securities Company. 

  
 Section
44.    (Loss of Effect, Termination Event, Etc.) 
  

	44.1.	 	The Merger Agreement Between Securities Companies shall cease to be effective if: 

  

	 	(1)	 	the Merger Agreement Between Securities Companies is not approved at the shareholders’ meeting of either Mitsubishi Securities or UFJ Securities in accordance with Section
40.2; 

  

	 	(2)	 	the Merger Agreement Between Holding Companies ceases to be effective for any reason; or 

  

	 	(3)	 	the approvals, etc., of the relevant authorities that are required by the laws of Japan or relevant foreign countries are not obtained prior to the date of the merger, or such
approvals, etc. are obtained subject to any condition or restriction that may result in a material obstacle to achieving the purposes of the Business Integration. 

  

	44.2.	 	Mitsubishi Securities and UFJ Securities shall determine, upon agreement through separate consultations between them, any other event of termination of the Merger Agreement Between
Securities Companies and other related matters, in addition to those provided for in this Agreement. 

  
 ARTICLE VI.    MATERIAL ADVERSE EFFECT 
  
 Section 45.    (Occurrence of a Material Adverse Effect) 
  
 The Mitsubishi Group Companies and the UFJ Group Companies shall, upon the occurrence of a Material Adverse Effect on or
after the execution date hereof, use their best efforts to a reasonable extent and hold mutual consultations in good faith with respect to the terms and conditions of the Mergers. 
  
 ARTICLE VII.    COVENANTS 
  
 Section 46.    (Management of Assets and Prior Consultations) 
  
 Each party shall operate its respective business and administer and manage
its respective assets with the due care of a prudent custodian (zenryonaru-kanrisha-no-chui) during the effective term of this Agreement, and any act that might have a Material Adverse Effect on its respective financial condition,
results of operations, cash flow or business (including any issuance of new shares and stock acquisition rights, any dividends, any acquisition of treasury stock or any other acts which might affect the merger ratio except as contemplated herein,
but excluding any measures intended to facilitate Mitsubishi Securities becoming a directly owned subsidiary of MTFG and the delivery by either Mitsubishi Securities or UFJ Securities of its treasury shares upon the exercise of stock subscription
rights (shinkabu hikiuke-ken) or stock acquisition rights (shinkabu yoyaku-ken))shall be subject to mutual consultations between MTFG, UFJ Holdings and the relevant merging parties and to a prior agreement among MTFG, UFJ Holdings and
such parties (or, in the case of the Merger Between Securities Companies, a prior agreement solely between Mitsubishi Securities and UFJ Securities). 
  

 12 

 Section 47.    (Measures In Furtherance of the Mergers) 
  
 Each of the parties hereof shall, during the effective term of this
Agreement and except as otherwise provided for herein, take the following measures in furtherance of the Mergers: 
  

	 	(1)	 	In addition to performing the following obligations set forth in Sections 47.(1)(a) and 47.(1)(b) at the general meeting of shareholders and the class shareholders’ meeting of
any class of shares concerning the approval of the Merger Agreements, use its best efforts to a reasonable extent to obtain the approval from its shareholders and holders of any class of shares: 

  

	 	(a)	 	Actively seek the shareholders’ exercise of their voting rights in favor of the proposal for approval of the Merger Agreements; and 

  

	 	(b)	 	Provide instructions that voting cards submitted in blank concerning the proposal for approval of the Merger Agreements shall be deemed votes in favor of such proposal;

  

	 	(2)	 	Use its best efforts to a reasonable extent in filing with, and obtaining approvals from, domestic (Japanese) and foreign regulatory authorities in connection with the Business
Integration; 

  

	 	(3)	 	Maintain the listing of its shares on stock exchanges (including overseas securities exchanges); 

  

	 	(4)	 	Prepare the necessary documents pursuant to U.S. securities laws and regulations and perform other related procedures (including preparation of financial statements and a Form F-4
pursuant to U.S. GAAP, provision by UFJ Holdings to MTFG of an accounting firm comfort letter which has sufficient content in light of market practices in connection with the financial information of the UFJ Group Companies provided in the Form F-4,
within the time period necessary for the purpose of the Form F-4 filing procedures, and in the event that the filing of a Form F-4 by Mitsubishi Securities is required, provision by UFJ Securities to Mitsubishi Securities of an accounting firm
comfort letter which has sufficient content in light of market practices in connection with the financial information of UFJ Securities provided in such Form F-4, within the time period necessary for the purpose of the Form F-4 filing procedures) or
use its best efforts to a reasonable extent for the performance of such procedures; 

  

	 	(5)	 	In the event of any solicitations, proposals, inquiries or requests for the provision of information (collectively, “Third Party Collaboration Solicitations”) with respect
to a capital participation, business collaboration, assignment of all or material part of its business or assets which conflicts with the purposes of the Business Integration (including reorganizations such as a share transfer, transfer of business,
merger, demerger, stock-for-stock exchange and stock-for-stock transfer, and any other acts substantially having the effect of a transfer of a material business or assets, irrespective of the form thereof, but excluding any measures intended to
facilitate Mitsubishi Securities becoming a directly owned subsidiary of MTFG) (collectively, “Third Party Collaborations”), the party receiving such Third Party Collaboration Solicitation shall: 

  

	 	(a)	 	immediately notify the other party (UFJ Holdings in the event of any of the Mitsubishi Group Companies and MTFG in the event of any of the UFJ Group Companies) of the existence of
the Third Party Collaboration Solicitation, the name of the party making such Third Party Collaboration Solicitation and other relevant parties and the particulars of such Third Party Collaboration Solicitation (such as major terms and conditions),
including attaching copies of documents (including notices and correspondences) received from such third party in connection with the Third Party Collaboration Solicitation; and 

  

	 	(b)	 	timely provide the other party with information relating to the status of the Third Party Collaboration Solicitation thereafter (including furnishing copies of documents received
from such third party thereafter, including notices and correspondences); 

  

	 	(6)	 	Mutually use its best efforts to a reasonable extent in furtherance of the Business Integration. 

  

 13 

 Section 48.    (Prohibitions) 
  
 Except as otherwise set forth herein, during the effective term of this Agreement, each party shall not directly or
indirectly: 
  

	 	(i)	 	enter into and/or perform any agreement for the purpose of any Third Party Collaboration; 

  

	 	(ii)	 	propose to any third party, or solicit any third party for, any Third Party Collaboration by itself; 

  

	 	(iii)	 	discuss or negotiate any Third Party Collaboration with a third party and provide, directly or indirectly, information concerning a Third Party Collaboration to such third party;

  

	 	(iv)	 	submit to a vote any proposal concerning a Third Party Collaboration at a shareholders’ meeting as a proposal submitted by the company; 

  

	 	(v)	 	submit to a vote any proposal concerning a Third Party Collaboration at a shareholders’ meeting as a proposal submitted by shareholders where such shareholders fail to satisfy
the procedural requirements provided in Article 232-2 of the Commercial Code of Japan; or 

  

	 	(vi)	 	express its opinion in favor of a takeover bid for the shares of either MTFG or UFJ Holdings by any person other than the Mitsubishi Group Companies or the UFJ Group Companies.

  
 Section 49.    (Information Provision)

  
 Each company within the Mitsubishi Group Companies and
the UFJ Group Companies shall mutually provide to each other information related to its business that is necessary for or useful in the Business Integration during the effective term of this Agreement, subject to applicable laws and regulations.

  
 Section 50.    (Treatment of Third Party Proposals)

  

	50.1.  (1)	 	 If either MTFG or UFJ Holdings receives a proposal for a Third Party Collaboration (the “Third Party Proposal”) from a third party (the “Third Party
Offeror”) prior to the execution of the Merger Agreement Between Holding Companies, and reasonably determines that the failure to consider such proposal would likely result in a breach of the fiduciary duties of the directors or corporate
auditors of the party receiving such proposal (the “Proposal Receiving Party”) under the Commercial Code of Japan, the Proposal Receiving Party shall promptly notify the other party (the “Proposal Non-Receiving Party”) in writing
of such determination, together with copies of the Third Party Proposal received by it from the Third Party Offeror and all written notices relating thereto, and the Proposal Non-Receiving Party shall, upon the receipt of such notice from the
Proposal Receiving Party, promptly commence good faith discussions with the Proposal Receiving Party with respect to the response to the Third Party Proposal. So long as the Proposal Receiving Party, after so notifying and having so discussed with
the Proposal Non-Receiving Party in good faith, has entered into a confidentiality agreement (containing confidentiality obligations no less restrictive than those of the Proposal Non-Receiving Party to the Proposal Receiving Party in connection
with the Business Integration) with the Third Party Offeror in connection with discussion, negotiation or provision of information relating to such Third Party Proposal, and has provided the Proposal Non-Receiving Party with a copy of such
confidentiality agreement, the Proposal Receiving Party shall be entitled to discuss and negotiate with, and provide information to, the Third Party Offeror in connection with the Third Party Proposal (in this item, such discussion, negotiation and
provision of information is referred to as the “Discussions”), notwithstanding the provisions of Section 48(3) hereof and Section 40 of the Basic Memorandum of Agreement; provided, however, that if the Proposal
Receiving Party receives from or gives to the Third Party Offeror any written document in connection with the Discussions, the Proposal Receiving Party shall give to the Proposal Non-Receiving Party a copy of such document by the morning of the
business day immediately following the day on which such document is received or given, and shall provide the Proposal Non-Receiving Party with detailed 

  

 14 

	 	 
information about the Discussions to a reasonable extent promptly after the day on which such Discussions were held. 

  

	 	(2)	 	The Proposal Non-Receiving Party shall, within ten (10) days from receipt of the notice of the Third Party Proposal provided for in item (1) above, have the option to offer new
terms and conditions of the Business Integration (the “New Terms”) in writing to the Proposal Receiving Party. 

  

	 	(3)	 	Immediately after the expiration of the period provided for in item (2) above, MTFG and UFJ Holdings shall commence good faith discussions of the measures concerning the terms and
conditions of the Business Integration (if the New Terms are offered, the New Terms) and the Third Party Proposal, taking into consideration all related circumstances. If, as the result of such discussion, MTFG and UFJ Holdings reach an agreement
(such agreement shall not be refused or delayed without any reasonable cause; and the burden of proving in advance that there is no such reasonable cause is placed on the Proposal Receiving Party), they may, on the agreed terms and conditions, (a)
modify the terms and conditions of the Mergers, (b) exempt the Proposal Receiving Party from its obligations under this Agreement (including, but not limited to, those provided for in Sections 9.2 through 9.4 and items (1) and (6) of Section 47), or
(c) terminate this Agreement. For the avoidance of doubt, any action of the Proposal Receiving Party pursuant to this Section 50 shall not constitute any breach of its obligations under this Agreement, the Basic Memorandum of Agreement and/or the
Basic Agreement of Recapitalization. 

  
 ARTICLE
VIII.    REPRESENTATIONS AND WARRANTIES 
  
 Section
51.    (Representations and Warranties of MTFG) 
  

	51.1.	 	MTFG shall, as of the date of execution hereof and as of the timing of the execution of the Merger Agreement Between Holding Companies, represent and warrant to UFJ Holdings that
the statements set forth below are true and correct: 

  

	 	(1)	 	Financial reports or financial statements for the fiscal year ending in March 2004 and the interim fiscal period ending in September 2004 of each company within the Mitsubishi Group
Companies have been prepared in conformity with generally accepted accounting principles in Japan consistently applied, and such reports or statements accurately and fairly reflect the financial condition, results of operations and cash flows of
each company within the Mitsubishi Group Companies and have been duly audited and certified by an accounting firm as required by applicable laws and regulations. In addition, there are no obligations or liabilities not reflected in such reports or
statements (irrespective of whether they are fixed or not, and including any and all contingent liabilities) other than those incurred in the ordinary course of business at or after the time of their preparation; 

  

	 	(2)	 	No event has occurred which has or could have a Material Adverse Effect on any of the Mitsubishi Group Companies; and 

  

	 	(3)	 	 Any and all documents and information furnished or disclosed (including those disclosed orally) by the Mitsubishi Group Companies to the UFJ Group Companies
(including agents thereof) in connection with the Business Integration are accurate and truthful in all material respects. None of such documents and information (i) include any misleading contents in any material respects as of the date of their
preparation, (ii) have omitted any material facts necessary in order to make their contents, in light of all the other information furnished to the UFJ Group Companies and the circumstances under which they were made, not false or misleading. In
addition, there is no information undisclosed to the UFJ Group Companies which, to the knowledge of each of the Mitsubishi Group Companies, has or could have a material effect on the Business Integration or the business operations of the Mitsubishi
Group Companies. For the avoidance of doubt, any disclosure 

  

 15 

	 	 
of information by the Mitsubishi Group Companies to the UFJ Group Companies shall not affect the representations and warranties set forth in this Section
51.1 or any breach thereof. 

  

	51.2.	 	MTFG shall promptly notify UFJ Holdings of the occurrence or discovery of any breach of the representations and warranties set forth in Section 51.1 above and the parties shall hold
mutual consultations on any remedial measures therefor. 

  
 Section 52.    (Representations and Warranties of UFJ Holdings) 
  

	52.1.	 	UFJ Holdings shall, as of the date of execution hereof and as of the timing of execution of the Merger Agreement Between Holding Companies, represent and warrant to MTFG that the
statements set forth below are true and correct: 

  

	 	(1)	 	Financial reports or financial statements for the fiscal year ending in March 2004 and the interim fiscal period ending in September 2004 of each company within the UFJ Group
Companies have been prepared in conformity with generally accepted accounting principles in Japan consistently applied, and such reports or statements accurately and fairly reflect the financial condition, results of operations and cash flows of
each company within the UFJ Group Companies and have been duly audited and certified by an accounting firm as required by applicable laws and regulations. In addition, there are no obligations or liabilities not reflected in such reports or
statements (irrespective of whether they are fixed or not, and including any and all contingent liabilities) other than those incurred in the ordinary course of business at or after the time of their preparation; 

  

	 	(2)	 	No event has occurred which has or could have a Material Adverse Effect on any of the UFJ Group Companies; and 

  

	 	(3)	 	Any and all documents and information furnished or disclosed (including those disclosed orally) by the UFJ Group Companies to the Mitsubishi Group Companies (including agents
thereof) in connection with the Business Integration are accurate and truthful in all material respects. None of such documents and information (i) include any misleading contents in any material respects as of the date of their preparation, (ii)
have omitted any material facts necessary in order to make their contents, in light of all the other information furnished to the Mitsubishi Group Companies and the circumstances under which they were made, not false or misleading. In addition,
there is no information undisclosed to the Mitsubishi Group Companies which, to the knowledge of each of the UFJ Group Companies, has or could have a material effect on the Business Integration or the business operations of the UFJ Group Companies.
For the avoidance of doubt, any disclosure of information by the UFJ Group Companies to the Mitsubishi Group Companies shall not affect the representations and warranties set forth in this Section 52.1 or any breach thereof.

  

	52.2.	 	UFJ Holdings shall promptly notify MTFG of the occurrence or discovery of any breach of the representations and warranties set forth in Section 52.1 above and the parties shall hold
mutual consultations on any remedial measures therefor. 

  
 ARTICLE IX.    EFFECT/TERMINATION EVENTS OF THIS AGREEMENT 
  
 Section 53.    (Binding Effect, etc.) 
  

	53.1.	 	This Agreement shall be legally binding upon the parties hereto. 

  

	53.2.	 	In the event that the performance of any of the obligations under this Agreement result in a breach of the fiduciary duties of the directors or corporate auditors of any party
hereto and the parties hereto agree as a result of mutual consultations in good faith, then the parties hereto shall modify this Agreement so as to avoid such breach. 

  

 16 

 Section 54.    (Relation to the Basic Memorandum of Agreement) 
  
 In the event that there are any conflicts or discrepancies between the
provisions of this Agreement and the provisions of the Basic Memorandum of Agreement, the provisions of this Agreement shall prevail. 
  
 Section 55.    (Effective Term of this Agreement) 
  
 Except as otherwise set forth herein, the effective term of this Agreement shall be until June 29, 2005; provided, however, that in the
event that this Agreement is terminated pursuant to Sections 56 or 57 prior to the expiration of such period, the term shall be until such termination except as otherwise set forth herein. 
  
 Section 56.    (Termination of this Agreement) 
  
 This Agreement may be terminated by an agreement in writing between the
Mitsubishi Group Companies and the UFJ Group Companies and in accordance with such agreement prior to the annual shareholders’ meetings of MTFG and UFJ Holdings that are scheduled to be held in late June, 2005. 
  
 Section 57.    (Termination of this Agreement for Cause)

  

	57.1.	 	If any of the following events occur, MTFG may terminate this Agreement upon notice to UFJ Holdings (MTFG shall hold mutual consultations with BTM, Mitsubishi Trust and Mitsubishi
Securities prior to exercising its right of termination): 

  

	 	(1)	 	any violation of the representations and warranties, covenants or other obligations of UFJ Holdings provided for herein has occurred or has been discovered, which violation may have
a Material Adverse Effect on UFJ Holdings, and such violation fails to be remedied within thirty (30) days (or, if June 29, 2005 arrives prior to the elapse of such thirty (30) day period, then on or before June 28, 2005) after MTFG’s written
notice of such violation; or 

  

	 	(2)	 	any event which may have a Material Adverse Effect on UFJ Holdings has occurred on or after the date hereof and such event fails to be eliminated within thirty (30) days (or, if
June 29, 2005 arrives prior to the elapse of such thirty (30) day period, then on or before June 28, 2005) after MTFG’s written notice of such violation. 

  

	57.2.	 	If any of the following events occur, UFJ Holdings may terminate this Agreement upon notice to MTFG (UFJ Holdings shall hold mutual consultations with UFJ Bank, UFJ Trust and UFJ
Securities prior to exercising its right of termination): 

  

	 	(1)	 	any violation of the representations and warranties, covenants or other obligations of MTFG provided for herein has occurred or has been discovered, which violation may have a
Material Adverse Effect on MTFG, and such violation fails to be remedied within thirty (30) days (or, if June 29, 2005 arrives prior to the elapse of such thirty (30) day period, then on or before June 28, 2005) after UFJ Holdings’s written
notice of such violation; or 

  

	 	(2)	 	any event which may have a Material Adverse Effect on MTFG has occurred on or after the date hereof and such event fails to be eliminated within thirty (30) days (or, if June 29,
2005 arrives prior to the elapse of such thirty (30) day period, then on or before June 28, 2005) after UFJ Holdings’s written notice of such violation. 

  
 Section 58.    (Indemnities) 
  
 In the event that any of the Mitsubishi Group Companies or any of the UFJ Group Companies (the “Indemnifying
Party”) causes any damage, loss, liability, claim, cost or expense (including reasonable attorney’s fees and expenses, but excluding indirect or consequential damages) (collectively, the “Damages, etc.”) to the other parties
hereto arising from any material violation of the obligations, covenants, or representations and 

  

 17 

 
warranties hereunder of such Indemnifying Party, such Indemnifying Party shall compensate or indemnify such parties hereto that incur the Damages, etc.

  
 Section 59.    (Effect of the Termination of this
Agreement) 
  
 No termination of this Agreement in accordance
with Section 55, 56 or 57 (the “Termination”) shall prevent any party hereto from seeking indemnification under the preceding Section 58. In addition, the provisions of Article X shall survive any Termination. No Termination shall
discharge either MTFG or UFJ Holdings from (i) any liability accrued pursuant to this Agreement at the time of the Termination or (ii) any liability incurred hereunder after the Termination arising from any act or omission of action prior to the
Termination. 
  
 ARTICLE X.    MISCELLANEOUS

  
 Section 60.    (Notice) 
  
 All expressions of intent, notices, demands or other means of communication
of the parties hereto to be made pursuant to or in relation to this Agreement shall be in writing and shall be delivered by hand delivery, registered mail or facsimile to the following contact persons (or successors thereof) (or to other persons
separately notified by each party in accordance to this Section 60); provided, however, that the parties hereto may change such contact persons (or successors thereto) or addresses with prior notices to the other parties hereto. Each
of the foregoing shall be deemed received by the intended recipient (i) upon delivery if delivered by hand, (ii) the day immediately following the day of fax transmission if sent by facsimile, or (iii) two (2) days after posting if sent by mail.

  

	 	(i)	 	To MTFG: 

  
 Mitsubishi Tokyo Financial Group, Inc. 
 2-4-1 Marunouchi, Chiyoda-ku, Tokyo 
 Attn. Takashi Oyamada, General Manager (Togo Kikaku Shitsucho) 
 Facsimile No.: 03-3240-8205 
  

	 	(ii)	 	To BTM: 

  
 The Bank of Tokyo-Mitsubishi Limited 
 2-7-1 Marunouchi, Chiyoda-ku, Tokyo 
 Attn. Kanetsugu Mike, General Manager (Togo Kikaku Shitsucho) 
 Facsimile No.: 03-3240-3156 
  

	 	(iii)	 	To Mitsubishi Trust: 

  
 The Mitsubishi Trust and Banking Corporation 
 1-4-5 Marunouchi, Chiyoda-ku, Tokyo 
 Attn. Hatsuhito Kaneko, Senior Chief Manager (Togo Kikaku Shitsucho) 
 Facsimile No.: 03-6214-6058 
  

	 	(iv)	 	To Mitsubishi Securities: 

  
 Mitsubishi Securities Co., Ltd. 
 2-4-1
Marunouchi, Chiyoda-ku, Tokyo 
 Attn. Koji Nishimoto, General Manager (Keiei Kikakubu Togo Kikaku Shitsucho) 
 Facsimile No.: 03-6213-6568 
  
  

 18 

	 	(v)	 	To UFJ Holdings: 

  
 UFJ Holdings, Inc. 
 1-1-1 Otemachi,
Chiyoda-ku, Tokyo 
 Attn. Ichiro Hamakawa, General Manager (Keiei Kikaku Bucho and Togo Kikaku Shitsucho) 
 Facsimile No.: 03-3212-5869 
  

	 	(vi)	 	To UFJ Bank: 

  
 UFJ Bank Limited 
 1-1-1 Otemachi,
Chiyoda-ku, Tokyo 
 Attn. Atsushi Muto, General Manager (Kikakubu Togo Kikakushitsucho) 
 Facsimile No.: 03-3214-6470 
  

	 	(vii)	 	To UFJ Trust: 

  
 UFJ Trust Bank Limited 
 1-4-3 Marunouchi,
Chiyoda-ku, Tokyo 
 Attn. Kenichi Miyanaga, General Manager / General Planning Department (Sogo Kikakubu Fukubucho and Togo
Kikaku Shitsucho) 
 Facsimile No.: 03-3201-1185 
  

	 	(viii)	 	To UFJ Securities: 

  
 UFJ Tsubasa Securities Co., Ltd. 
 1-1-3
Otemachi, Chiyoda-ku, Tokyo 
 Attn. Akio Sashida, General Manager (Togo Kikaku Shitsucho) 
 Facsimile No.: 03-5220-2057 
  
 Section 61.    (Public Announcement) 
  
 Any public announcement with respect to the execution or content of this Agreement subsequent to the execution hereof shall be made at such time and in
such manner and content as agreed upon in advance by the parties hereto; provided, however, that the foregoing shall not apply if such announcement is required by applicable laws and regulations, rules of stock exchange(s) or judicial
and/or administrative bodies (including announcements made in the Form F-4 to be filed by MTFG or Mitsubishi Securities pursuant to U.S. securities laws and regulations ). 
  
 Section 62.    (Modification, etc. of this Agreement) 
  
 No modification or amendment of this Agreement shall be valid unless agreed
upon in writing and executed by an authorized representative of each party by printing his name and affixing his seal. In addition, no waiver by any party of any rights under this Agreement shall be valid unless made in writing and executed by an
authorized representative of such party by printing his name and affixing his seal. 
  
 Section 63.    (Severability) 
  
 Any invalidity or unenforceability of any of the provisions in this Agreement for any reason shall not directly cause any other provisions herein to be invalid or unenforceable. 
  
 Section 64.    (Language) 
  
 The official text of this Agreement shall be in Japanese. The official text in Japanese shall be the only effective contract
irrespective of any translations of this Agreement in English or in any other languages, and in the event that there are any discrepancies between the official Japanese text and any translation thereof, the Japanese text shall prevail. 

 

 19 

 Section 65.    (Governing Law) 
  
 This Agreement shall be governed by the laws of Japan. 
  
 Section 66.    (Jurisdiction) 
  
 The parties to this Agreement hereby submit to the exclusive consent jurisdiction of the Tokyo District Court as the court
of first instance over any and all disputes relating to this Agreement. 
  
 Section 67.    (Consultation) 
  
 The parties hereto shall consult in good faith and resolve by mutual agreement any matters not explicitly provided for herein or any doubts that arise in the interpretation of this Agreement. 
  
 [Remainder of this page intentionally left blank] 
  

 20 

 IN WITNESS WHEREOF, this Agreement is executed in eight counterparts and the parties hereto shall affix
their names and seals and shall each retain one copy. 
  
 February 18, 2005 
  

			
	 MTFG:
	  	 2-4-1 Marunouchi, Chiyoda-ku, Tokyo
 Mitsubishi Tokyo Financial Group, Inc.

		
	 BTM:
	  	 2-7-1 Marunouchi, Chiyoda-ku, Tokyo
 The Bank of Tokyo-Mitsubishi Limited

		
	 Mitsubishi Trust:
	  	 1-4-5 Marunouchi, Chiyoda-ku, Tokyo
 The Mitsubishi Trust and Banking Corporation

		
	 Mitsubishi Securities:
	  	 2-4-1 Marunouchi, Chiyoda-ku, Tokyo
 Mitsubishi Securities Co., Ltd.

		
	 UFJ Holdings:
	  	 3-5-6 Fushimi-machi Chuo-ku, Osaka
 UFJ Holdings, Inc.

		
	 UFJ Bank:
	  	 3-21-24 Nishiki, Naka-ku, Nagoya-shi
 UFJ Bank Limited

		
	 UFJ Trust:
	  	 1-4-3 Marunouchi, Chiyoda-ku, Tokyo
 UFJ Trust Bank Limited

		
	 UFJ Securities:
	  	 1-1-3 Otemachi, Chiyoda-ku, Tokyo
 UFJ Tsubasa Securities Co., Ltd.

  

 21 

 AMENDMENT TO INTEGRATION AGREEMENT 
  
 THIS AMENDMENT TO INTEGRATION AGREEMENT (this “Agreement”) is
entered into by and among Mitsubishi Tokyo Financial Group, Inc. (“MTFG”), The Bank of Tokyo-Mitsubishi Limited (“BTM”), The Mitsubishi Trust and Banking Corporation (“Mitsubishi Trust”) and Mitsubishi Securities Co.,
Ltd. (“Mitsubishi Securities”), and UFJ Holdings, Inc. (“UFJ Holdings”), UFJ Bank Limited (“UFJ Bank”), UFJ Trust Bank Limited (“UFJ Trust”) and UFJ Tsubasa Securities Co., Ltd. (“UFJ Securities”) in
order to amend the Integration Agreement dated February 18, 2005 (the “Integration Agreement”) by and among the parties hereto in accordance with the provisions of Section 62 of the Integration Agreement. 
  
 Section 1.    Amendment to Section 9.3 of the
Integration Agreement.    Section 9.3 of the Integration Agreement shall be amended to read as follows: 
  
 (Before Amendment) 
  
 “9.3. Subject to the terms and conditions set forth in this Agreement, MTFG shall convene class shareholders’ meetings of the Class 1 preferred
shares and Class 3 preferred shares, respectively, within the last ten days of June 2005, and shall seek class shareholder approval of the Merger Agreement Between Holding Companies and the resolutions required for the Merger Between Holding
Companies.” 
  
 (After Amendment) 
  
 “9.3. Subject to the terms and conditions set forth in this Agreement,
MTFG shall convene a class shareholders’ meeting of the Class 3 preferred shares within the last ten days of June 2005, and shall seek class shareholder approval of the Merger Agreement Between Holding Companies and the resolutions required for
the Merger Between Holding Companies.” 
  
 Section
2.    Amendment to Section 10.1 of the Integration Agreement.    Section 10.1 of the Integration Agreement shall be amended to read as follows: 
  
 (Before Amendment) 
  
 “10.1. Upon the Merger Between Holdings Companies, MTFG shall newly issue shares of common stock in a number equal to the product obtained by
multiplying (x) the total number of shares of common stock of UFJ Holdings held by the shareholders (the term “shareholder” being hereinafter defined as including a beneficial shareholder) entered or recorded in the latest shareholder
register (the term “shareholder register” being hereinafter defined as including a beneficial shareholder register) of UFJ Holdings as of the day immediately preceding the date of the merger by (y) 0.62, and allot and deliver such newly
issued shares to the shareholders of common stock of UFJ Holdings at a rate of 0.62 shares of common stock of MTFG per share of common stock of UFJ Holdings.” 
  
 (After Amendment) 
  
 “10.1. Upon the Merger Between Holdings Companies, MTFG shall newly issue shares of common stock in a number equal to the product obtained by
multiplying (x) the total number of shares of common stock of UFJ Holdings held by the shareholders (the term “shareholder” being hereinafter defined as including a beneficial shareholder and a fractional shareholder) entered or recorded
in the latest shareholder register (the term “shareholder register” being hereinafter defined as including a beneficial shareholder register and a fractional shareholder register) of UFJ Holdings as of the day immediately preceding the
date of the merger by (y) 0.62, and allot and deliver such newly issued shares to the shareholders of common stock of UFJ Holdings at a rate of 0.62 shares of common stock of MTFG per share of common stock of UFJ Holdings; provided, however,
that the shares of common stock of UFJ Holdings held by MTFG and treasury shares held by UFJ Holdings do not receive an allocation.” 
  

 22 

 Section 3.    Amendment to Section 19 of the Integration Agreement.

  
 Section 3.1.    Section 19.3 of the
Integration Agreement shall be amended to read as follows: 
  
 (Before Amendment) 
  
 “19.3. Subject to the terms
and conditions set forth in this Agreement, BTM shall convene class shareholders’ meeting of the preferred shares within the last ten days of June 2005, and shall seek class shareholder approval of the Merger Agreement Between Banks and the
resolutions required for the Merger Between Banks. MTFG shall exercise its voting rights in favor of the resolution to approve the Merger Agreement Between Banks at such shareholders’ meeting.” 
  
 (After Amendment) 
  
 “19.3. Subject to the terms and conditions set forth in this Agreement,
BTM shall convene class shareholders’ meetings of the Class 1 preferred shares and the Class 2 preferred shares, respectively, within the last ten days of June 2005, and shall seek class shareholder approval of the Merger Agreement Between
Banks and the resolutions required for the Merger Between Banks at each such meeting. MTFG shall exercise its voting rights in favor of the resolution to approve the Merger Agreement Between Banks at such shareholders’ meetings.”

  
 Section 3.2.    Section 19.4 of the
Integration Agreement shall be amended to read as follows: 
  
 (Before Amendment) 
  
 “19.4. Subject to the terms
and conditions set forth in this Agreement, UFJ Bank shall convene class shareholders’ meetings of the ordinary shares, Series 1 of preferred shares, Series 1 of Class A preferred shares, Series 1 of Class D preferred shares, Series 2 of Class
D preferred shares, Series 1 of Class E preferred shares, Series 1 of Class G preferred shares and Series 2 of Class G preferred shares, respectively, within the last ten days of June 2005, and shall seek class shareholder approval of the Merger
Agreement Between Banks and the resolutions required for the Merger Between Banks at each such meeting. UFJ Holdings and MTFG shall exercise their respective voting rights in favor of the resolution to approve the Merger Agreement Between Banks at
such shareholders’ meetings.” 
  
 (After Amendment)

  
 “19.4. Subject to the terms and conditions set forth in
this Agreement, UFJ Bank shall convene class shareholders’ meetings of the ordinary shares, Series 1 of preferred shares, Series 1 of Class A preferred shares, Series 1 of Class D preferred shares, Series 2 of Class D preferred shares, Series 1
of Class E preferred shares (which shall hereinafter read “Class F preferred shares,” if such shares have been issued upon conversion of the Series 1 of Class E preferred shares), Series 1 of Class G preferred shares, Series 2 of Class G
preferred shares and Series 1 of Class H preferred shares, respectively, within the last ten days of June 2005, and shall seek class shareholder approval of the Merger Agreement Between Banks and the resolutions required for the Merger Between Banks
at each such meeting. UFJ Holdings and MTFG shall exercise their respective voting rights in favor of the resolution to approve the Merger Agreement Between Banks at such shareholders’ meetings.” 
  
 Section 4.    Amendment to Section 20 of the
Integration Agreement. 
  
 Section
4.1.    Section 20.1 of the Integration Agreement shall be amended to read as follows: 
  
 (Before Amendment) 
  
 “20.1. Upon the Merger Between Banks, BTM shall newly issue shares of common stock in a number equal to the product obtained by multiplying (x) the
total number of shares of common stock of UFJ Bank held by the 

  

 23 

 
shareholders entered or recorded in the latest shareholder register of UFJ Bank as of the day immediately preceding the date of the merger by (y) 0.62, and
allot and deliver such newly issued shares to the shareholders of common stock of UFJ Bank at a rate of 0.62 shares of common stock of BTM per share of common stock of UFJ Bank.” 
  
 (After Amendment) 
  
 “20.1. Upon the Merger Between Banks, BTM shall newly issue shares of common stock in a number equal to the product obtained by multiplying (x) the
total number of shares of common stock of UFJ Bank held by the shareholders entered or recorded in the latest shareholder register of UFJ Bank as of the day immediately preceding the date of the merger by (y) 0.62, and allot and deliver such newly
issued shares to the shareholders of common stock of UFJ Bank at a rate of 0.62 shares of common stock of BTM per share of common stock of UFJ Bank; provided that any fraction resulting from such allotment which constitutes less than one
share of common stock of BTM shall be rounded up to one share.” 
  
 Section 4.2.    Section 20.5 of the Integration Agreement shall be amended to read as follows: 
  
 (Before Amendment) 
  
 “20.5. Upon the Merger Between Banks, BTM shall newly issue shares of preferred stock (upon substantially the same terms and conditions as those of
the Series 1 of Class E preferred shares of UFJ Bank) in a number equal to the total number of the Series 1 of Class E preferred shares of UFJ Bank held by the shareholders entered or recorded in the latest shareholder register of UFJ Bank as of the
day immediately preceding the date of the merger, and allot and deliver such newly issued shares to the shareholders of the Series 1 of Class E preferred stock of UFJ Bank at a rate of 1 share of preferred stock to be issued pursuant to this Section
20.5 per share of the Series 1 of Class E preferred stock of UFJ Bank.” 
  
 (After Amendment) 
  
 “20.5.
Upon the Merger Between Banks, BTM shall newly issue shares of common stock in a number equal to the product obtained by multiplying (x) the total number of the Series 1 of Class E preferred shares of UFJ Bank held by the shareholders entered or
recorded in the latest shareholder register of UFJ Bank as of the day immediately preceding the date of the merger by (y) 0.34, and allot and deliver such newly issued shares to the shareholders of the Series 1 of Class E preferred stock of UFJ Bank
(which shall hereinafter read “the shareholders of Class F preferred stock of UFJ Bank,” if such shares have been issued upon conversion of the Series 1 of Class E preferred shares of UFJ Bank) at a rate of 0.34 shares of common stock of
BTM per share of the Series 1 of Class E preferred stock of UFJ Bank.” 
  
 Section 4.3.    Section 20.6 of the Integration Agreement shall be amended to read as follows: 
  
 (Before Amendment) 
  
 “20.6. Upon the Merger Between Banks, BTM shall newly issue shares of preferred stock (upon substantially the same terms and conditions as those of
the Series 1 of Class G preferred shares of UFJ Bank) in a number equal to the total number of the Series 1 of Class G preferred shares of UFJ Bank held by the shareholders entered or recorded in the latest shareholder register of UFJ Bank as of the
day immediately preceding the date of the merger, and allot and deliver such newly issued shares to the shareholders of the Series 1 of Class G preferred stock of UFJ Bank at a rate of 1 share of preferred stock to be issued pursuant to this Section
20.6 per share of the Series 1 of Class G preferred stock of UFJ Bank.” 
  
 (After Amendment) 
  
 “20.6.
Upon the Merger Between Banks, BTM shall newly issue shares of common stock in a number equal to the product obtained by multiplying (x) the total number of the Series 1 of Class G preferred shares of 

  

 24 

 
UFJ Bank held by the shareholders entered or recorded in the latest shareholder register of UFJ Bank as of the day immediately preceding the date of the
merger by (y) 0.34, and allot and deliver such newly issued shares to the shareholders of the Series 1 of Class G preferred stock of UFJ Bank at a rate of 0.34 shares of common stock of BTM per share of the Series 1 of Class G preferred stock of UFJ
Bank.” 
  
 Section 4.4.    Section
20.7 of the Integration Agreement shall be amended to read as follows: 
  
 (Before Amendment) 
  
 “20.7. Upon the Merger
Between Banks, BTM shall newly issue shares of preferred stock (upon substantially the same terms and conditions as those of the Series 2 of Class G preferred shares of UFJ Bank) in a number equal to the total number of the Series 2 of Class G
preferred shares of UFJ Bank held by the shareholders entered or recorded in the latest shareholder register of UFJ Bank as of the day immediately preceding the date of the merger, and allot and deliver such newly issued shares to the shareholders
of the Series 2 of Class G preferred stock of UFJ Bank at a rate of 1 share of preferred stock to be issued pursuant to this Section 20.7 per share of the Series 2 of Class G preferred stock of UFJ Bank.” 
  
 (After Amendment) 
  
 “20.7. Upon the Merger Between Banks, BTM shall newly issue shares of
common stock in a number equal to the product obtained by multiplying (x) the total number of the Series 2 of Class G preferred shares of UFJ Bank held by the shareholders entered or recorded in the latest shareholder register of UFJ Bank as of the
day immediately preceding the date of the merger by (y) 0.34, and allot and deliver such newly issued shares to the shareholders of the Series 2 of Class G preferred stock of UFJ Bank at a rate of 0.34 shares of common stock of BTM per share of the
Series 2 of Class G preferred stock of UFJ Bank.” 
  
 Section 4.5.    A new provision as set forth below shall be added to Section 20 as Section 20.8: 
  
 “20.8. Upon the Merger Between Banks, BTM shall newly issue shares of common stock in a number equal to the product obtained by multiplying (x) the
total number of the Series 1 of Class H preferred shares of UFJ Bank held by the shareholders entered or recorded in the latest shareholder register of UFJ Bank as of the day immediately preceding the date of the merger by (y) 3.44, and allot and
deliver such newly issued shares to the shareholders of the Series 1 of Class H preferred stock of UFJ Bank at a rate of 3.44 shares of common stock of BTM per share of the Series 1 of Class H preferred stock of UFJ Bank.” 
  
 Section 5.    Amendment to Section 29.2 of the
Integration Agreement.    Section 29.2 of the Integration Agreement shall be amended to read as follows: 
  
 (Before Amendment) 
  
 “29.2. Subject to the terms and conditions set forth in this Agreement, each of Mitsubishi Trust and UFJ Trust shall convene their respective annual
shareholders’ meeting (in the case of Mitsubishi Trust, its annual shareholders’ meeting will also be deemed as the class shareholders’ meeting of the ordinary shares) within the last ten days of June 2005, and shall seek shareholder
approval of the Merger Agreement Between Trust Banks and the resolutions required for the Merger Between Trust Banks. MTFG and UFJ Holdings shall exercise their respective voting rights in favor of the resolution to approve the Merger Agreement
Between Trust Banks at such annual shareholders’ meetings.” 
  
 (After Amendment) 
  
 “29.2. Subject to the terms
and conditions set forth in this Agreement, each of Mitsubishi Trust and UFJ Trust shall convene their respective annual shareholders’ meeting within the last ten days of June 2005, and shall seek shareholder approval of the Merger Agreement
Between Trust Banks and the resolutions required for the Merger Between Trust Banks. MTFG and UFJ Holdings shall exercise their respective voting rights in favor of the resolution to approve the Merger Agreement Between Trust Banks at such annual
shareholders’ meetings.” 
  

 25 

 Section 6.    Amendment to Section 30.1 of the Integration
Agreement.    Section 30.1 of the Integration Agreement shall be amended to read as follows: 
  
 (Before Amendment) 
  
 “30.1. Upon the Merger Between Trust Banks, Mitsubishi Trust shall newly issue shares of common stock in a number equal to the product obtained by
multiplying (x) the total number of shares of common stock of UFJ Trust held by the shareholders entered or recorded in the latest shareholder register of UFJ Trust as of the day immediately preceding the date of the merger by (y) 0.62, and allot
and deliver such newly issued shares to the shareholders of common stock of UFJ Trust at a rate of 0.62 shares of common stock of Mitsubishi Trust per share of common stock of UFJ Trust.” 
  
 (After Amendment) 
  
 “30.1. Upon the Merger Between Trust Banks, Mitsubishi Trust shall newly
issue shares of common stock in a number equal to the product obtained by multiplying (x) the total number of shares of common stock of UFJ Trust held by the shareholders entered or recorded in the latest shareholder register of UFJ Trust as of the
day immediately preceding the date of the merger by (y) 0.62, and allot and deliver such newly issued shares to the shareholders of common stock of UFJ Trust at a rate of 0.62 shares of common stock of Mitsubishi Trust per share of common stock of
UFJ Trust; provided that any fraction resulting from such allotment which constitutes less than one share of common stock of Mitsubishi Trust shall be rounded up to one share.” 
  
 Section 7.    Effect of This
Agreement.    The amendments to the Integration Agreement pursuant to this Agreement shall be effective as of the date hereof, but shall not affect any other terms and conditions of the Integration Agreement. 
  
 [Remainder of this page intentionally left blank] 
  

 26 

 IN WITNESS WHEREOF, this Agreement is executed in eight counterparts and parties hereto shall affix their names and seals
and shall each retain one original. 
  
 April 20, 2005 

 

			
	 MTFG:
	  	 2-4-1 Marunouchi, Chiyoda-ku, Tokyo
 Mitsubishi Tokyo Financial Group, Inc.

		
	 BTM:
	  	 2-7-1 Marunouchi, Chiyoda-ku, Tokyo
 The Bank of Tokyo-Mitsubishi Limited

		
	 Mitsubishi Trust:
	  	 1-4-5 Marunouchi, Chiyoda-ku, Tokyo
 The Mitsubishi Trust and Banking Corporation

		
	 Mitsubishi Securities:
	  	 2-4-1 Marunouchi, Chiyoda-ku, Tokyo
 Mitsubishi Securities Co., Ltd.

		
	 UFJ Holdings:
	  	 3-5-6 Fushimi-machi Chuo-ku, Osaka
 UFJ Holdings, Inc.

		
	 UFJ Bank:
	  	 3-21-24 Nishiki, Naka-ku, Nagoya-shi
 UFJ Bank Limited

		
	 UFJ Trust:
	  	 1-4-3 Marunouchi, Chiyoda-ku, Tokyo
 UFJ Trust Bank Limited

		
	 UFJ Securities:
	  	 1-1-3 Otemachi, Chiyoda-ku, Tokyo
 UFJ Tsubasa Securities Co., Ltd.

  

 27Merger Agreement

 Exhibit 4(b) 
  
 MERGER AGREEMENT, DATED APRIL 20, 2005, AND AMENDMENT THERETO, 
 DATED AUGUST 12, 2005 
  
 MERGER AGREEMENT 
 (English Translation) 
  
 The Bank of Tokyo-Mitsubishi, Ltd. (“BTM”) and UFJ Bank Limited
(“UFJ”) make and enter into this Merger Agreement (this “Agreement”) as follows. 
  
 Article 1    Method of Merger 
  
 BTM will merge with UFJ (the “Merger”), whereby BTM will be the surviving company and UFJ will be the dissolving company upon the Merger. 
  
 Article 2    Amendments to Articles of Incorporation 
  
 Prior to the Merger, BTM plans to propose amendments to the current Articles
of Incorporation as set forth in Attachment 1 as the meeting agenda (the “Pre-Merger Agenda”) at its general meeting of shareholders for Merger Approval as provided for in Article 5. Such amendments to the Articles of Incorporation will
become effective immediately upon approval of the Pre-Merger Agenda at the general meeting of shareholders for Merger Approval. After such amendment to the Articles of Incorporation becomes effective, BTM shall amend its Articles of Incorporation as
set forth in Attachment 2 upon the Merger. Such amendments become effective, with respect to Articles 5 through 6, 9-2 through 9-11, and 31 of the Articles of Incorporation so amended, upon the effectiveness of the Merger, and with respect to
Articles other than Articles 5 through 6, 9-2 through 9-11 and 31 of the Articles of Incorporation so amended, at the scheduled merger date (gappei kijitsu). 
  
 Article 3    Shares to be Issued upon Merger and Allocation thereof 
  
 Upon the Merger, BTM shall issue classes of shares, and allot and deliver
such shares to the shareholders of UFJ as follows: 
  

	 	(1)	 	Ordinary Shares 

  

	 	 	Upon the Merger, BTM shall newly issue Ordinary Shares in a number equal to the product obtained by multiplying (x) the total number of Ordinary Shares of UFJ held by the
shareholders entered or recorded in the latest register of shareholders of UFJ as of the day immediately preceding the scheduled merger date by (y) 0.62, and allot and deliver such issued shares to the holders of Ordinary Shares of UFJ at a rate of
0.62 Ordinary Shares of BTM per Ordinary Share of UFJ; provided, however, that any fractional shares resulting from such allotment shall be rounded up to the nearest one (1) share. 

  

	 	(2)	 	Series 1 Class A Preferred Shares 

  

	 	 	Upon the Merger, BTM shall newly issue Series 1 Class 3 Preferred Shares in a number equal to the total number of Series 1 Class A Preferred Shares of UFJ held by the shareholders
entered or recorded in the latest register of shareholders of UFJ as of the day immediately preceding the scheduled merger date, and allot and deliver such issued shares to the holders of Series 1 Class A Preferred Shares of UFJ at a rate of one (1)
Series 1 Class 3 Preferred Share of BTM per one (1) Series 1 Class A Preferred Share of UFJ. 

  

	 	 	The details of Series 1 Class 3 Preferred Shares allotted and delivered by BTM shall be as set forth in the terms and conditions of their issuance as set forth in Attachment 3 as
well as in BTM’s Articles of Incorporation. 

  

	 	(3)	 	Series 1 Class D Preferred Shares 

  

	 	 	 Upon the Merger, BTM shall newly issue Series 1 Class 4 Preferred Shares in a number equal to the total number of Series 1 Class D Preferred Shares of UFJ held by
the shareholders entered or recorded in the 

  

 -1- 

	 	 
latest register of shareholders of UFJ as of the day immediately preceding the scheduled merger date, and allot and deliver such issued shares to the holders
of Series 1 Class D Preferred Shares of UFJ at a rate of one (1) Series 1 Class 4 Preferred Share of BTM per one (1) Series 1 Class D Preferred Share of UFJ. 

  

	 	 	The details of Series 1 Class 4 Preferred Shares allotted and delivered by BTM shall be as set forth in the terms and conditions of their issuance as set forth in Attachment 4 as
well as in BTM’s Articles of Incorporation. 

  

	 	(4)	 	Series 2 Class D Preferred Shares 

  

	 	 	Upon the Merger, BTM shall newly issue Series 1 Class 5 Preferred Shares in a number equal to the total number of Series 2 Class D Preferred Shares of UFJ held by the shareholders
entered or recorded in the latest register of shareholders of UFJ as of the day immediately preceding the scheduled merger date, and allot and deliver such issued shares to the holders of Series 2 Class D Preferred Shares of UFJ at a rate of one (1)
Series 1 Class 5 Preferred Share of BTM per one (1) Series 2 Class D Preferred Share of UFJ. 

  

	 	 	The details of Series 1 Class 5 Preferred Shares allotted and delivered by BTM shall be as set forth in the terms and conditions of their issuance as set forth in Attachment 5 as
well as in BTM’s Articles of Incorporation. 

  

	 	(5)	 	Series 1 Class E Preferred Shares 

  

	 	 	Upon the Merger, BTM shall newly issue Ordinary Shares in a number equal to the product obtained by multiplying (x) the total number of Series 1 Class E Preferred Shares (or, if
Class F Preferred Shares have been issued due to conversion of Series 1 Class E Preferred Shares, Class F Preferred Shares) of UFJ held by the shareholders entered or recorded in the latest register of shareholders of UFJ as of the day immediately
preceding the scheduled merger date by (y) 0.34, and allot and deliver such issued shares to the holders of Series 1 Class E Preferred Shares (or, if Class F Preferred Shares have been issued due to conversion of Series 1 Class E Preferred Shares,
the holders of Class F Preferred Shares) of UFJ at a rate of 0.34 Ordinary Shares of BTM per Series 1 Class E Preferred Share of UFJ. 

  

	 	(6)	 	Series 1 Class G Preferred Shares 

  

	 	 	Upon the Merger, BTM shall newly issue Ordinary Shares in a number equal to the product obtained by multiplying (x) the total number of Series 1 Class G Preferred Shares of UFJ held
by the shareholders entered or recorded in the latest register of shareholders of UFJ as of the day immediately preceding the scheduled merger date by (y) 0.34, and allot and deliver such issued shares to the holders of Series 1 Class G Preferred
Shares of UFJ at a rate of 0.34 Ordinary Shares of BTM per Series 1 Class G Preferred Share of UFJ. 

  

	 	(7)	 	Series 2 Class G Preferred Shares 

  

	 	 	Upon the Merger, BTM shall newly issue Ordinary Shares in a number equal to the product obtained by multiplying (x) the total number of Series 2 Class G Preferred Shares of UFJ held
by the shareholders entered or recorded in the latest register of shareholders of UFJ as of the day immediately preceding the scheduled merger date by (y) 0.34, and allot and deliver such issued shares to the holders of Series 2 Class G Preferred
Shares of UFJ at a rate of 0.34 Ordinary Shares of BTM per Series 2 Class G Preferred Share of UFJ. 

  

	 	(8)	 	Series 1 Class H Preferred Shares 

  

	 	 	Upon the Merger, BTM shall newly issue Ordinary Shares in a number equal to the product obtained by multiplying (x) the total number of Series 1 Class H Preferred Shares of UFJ held
by the shareholders entered or recorded in the latest register of shareholders of UFJ as of the day immediately preceding the scheduled merger date by (y) 3.44, and allot and deliver such issued shares to the holders of Series 1 Class H Preferred
Shares of UFJ at a rate of 3.44 Ordinary Shares of BTM per Series 1 Class H Preferred Share of UFJ. 

  

 -2- 

 Article 4    Increase of Capital, Reserve, etc. 
  

	4.1	 	The capital, capital reserve, retained earnings reserve, voluntary reserve and other retained earnings of BTM shall be increased due to the Merger as follows:

  

	 (1)      Capital: 
	 0 yen. 

  

	 (2)      Capital reserve: 
	 the amount of profit from the merger (gappei saeki) less the amounts described in Items (3) and (4) of this Article 4.1.

  

	 (3)      Retained earnings reserve: 
	 the amount of UFJ’s retained earnings reserve as of the scheduled merger date. 

  

	 (4)      Voluntary reserve and other retained earnings: 
	 the total amount of UFJ’s voluntary reserve and other retained earnings as of the scheduled merger date; provided, however, that BTM
and UFJ will determine upon consultation the items and amounts to be retained. 

  

	4.2	 	If the amount of profit from the merger is less than the total of the amounts described in Items (3) and (4) of Article 4.1, the amounts described in Items (3) and (4) of Article
4.1 shall be decreased to the amount of profit from the merger in the order of Items (4) and (3) of Article 4.1. 

  

	4.3	 	BTM and UFJ may change the amounts described in Items (2) through (4) of Article 4.1 upon consultation and taking into consideration UFJ’s financial condition as of the
scheduled merger date. 

  
 Article
5    General Meetings of Shareholders for Merger Approval 
  

	5.1	 	BTM shall hold on June 28, 2005, and UFJ shall hold on June 29, 2005, ordinary general meetings of shareholders (BTM’s ordinary general meeting of shareholders is also a
general meeting of class shareholders of Ordinary Shares), and seek approval of this Agreement and matters necessary for the Merger. 

  

	5.2	 	BTM shall hold a general meeting of class shareholders of Class 1 Preferred Shares and Class 2 Preferred Shares, respectively, on June 28, 2005, and seek approval of this Agreement
and matters necessary for the Merger. 

  

	5.3	 	UFJ shall hold a general meeting of class shareholders of Ordinary Shares, Series 1 Preferred Shares, Series 1 Class A Preferred Shares, Series 1 Class D Preferred Shares, Series 2
Class D Preferred Shares, Series 1 Class E Preferred Shares, Series 1 Class G Preferred Shares, Series 2 Class G Preferred Shares and Series 1 Class H Preferred Shares, respectively, on June 29, 2005, and seek approval of this Agreement and matters
necessary for the Merger. 

  

	5.4	 	BTM and UFJ may change upon consultation the date on which each of general meetings of shareholders provided for in Article 5.1 and general meetings of each class of shareholders
provided for in Article 5.2 and 5.3 (collectively, the “General Meetings of Shareholders for Merger Approval”) are held if so required for the merger process or for other reasons. 

  
 Article 6    Scheduled Merger Date 
  
 The scheduled merger date shall be October 1, 2005; provided, however,
that BTM and UFJ may change the date upon consultation if such change is required for the merger process or for other reasons. 
  
 Article 7    Transfer of Assets 
  

	7.1	 	UFJ shall transfer all of its assets and liabilities, and rights and obligations to BTM on the scheduled merger date based on the balance sheet or other calculations as of March 31,
2005 after adjusting the increase and decrease calculations occurring before the scheduled merger date. 

  

 -3- 

	7.2	 	UFJ shall clarify to BTM the details of changes in its assets and liabilities, and in its rights and obligations, occurring during the period from April 1, 2005 to the scheduled
merger date by drafting a clarifying statement. 

  
 Article
8    Merger-Related Cash Distributions 
  
 BTM shall make no payment of merger-related cash distributions (gappei kofukin) upon the Merger. 
  
 Article 9    Management of Assets 
  
 BTM and UFJ shall each perform their respective business operations and manage and operate their respective assets with the due care of a prudent
custodian after the execution of this Agreement until the scheduled merger date. If either BTM or UFJ attempts to conduct an activity that would have a material effect on its assets, rights and obligations, both parties shall consult and agree
before conducting such activity. 
  
 Article 10    Maximum
Amount of Year-End Dividends 
  
 BTM may pay to its
shareholders and registered pledgees entered or recorded in its latest register of shareholders as of March 31, 2005 year-end dividends up to the maximum amounts set forth below for each class of shares, subject to approval at BTM’s ordinary
general meeting of shareholders as provided for in Article 5.1: 
  
 32.32 yen per Ordinary Share 
 41.25 yen per Class 1 Preferred Share 
 6.42 yen per Class 2 Preferred Share 
  
 Total: 166,229,005,727 yen 
  
 Article 11    Initial Date for Calculating Dividends 
  

The initial date to calculate the dividends on Ordinary Shares to be issued by BTM in accordance with Articles 3(1) and 3(5) through 3(8) shall be
October 1, 2005. 
  
 Article 12    Treatment of Employees

  
 BTM shall continue to employ all employees (including
executive officers and seconded personnel; the same applies hereinafter) employed by UFJ as of the scheduled merger date as BTM’s employees; provided, however, that the length of service of such employees at UFJ shall be added to the
length of service of such employees at BTM, and other employment matters shall be separately determined upon consultation between BTM and UFJ. 
  
 Article 13    Names of Directors and Corporate Auditors Appointed upon the Merger 
  
 Directors and Corporate Auditors of BTM to be newly appointed upon the
Merger shall be as follows; provided, however, that the effective date of appointment shall be the scheduled merger date: 
  

	 	(1)	 	Directors 

  
 Ryosuke Tamakoshi, Takamune Okihara, Kazuo Sasa, Takao Kawanishi, Sohei Sasaki, Shota Yasuda, Kunio Ishihara and Teruo Ozaki 
  

	 	(2)	 	Corporate Auditors 

  
 Hideo Fujino, Tadashi Yanagisawa, Yoshiharu Hayakawa and Kotaro Muneoka 
  
 Article 14    Term of Office of BTM’s Corporate Auditors Appointed before the Merger 
  
 The term of office of BTM’s Corporate Auditors who were appointed
before the Merger (including the Corporate Auditors to be appointed in accordance with Article 13) shall be as set forth in Article 23 of the Articles of Incorporation as amended in connection with the Merger. 
  

 -4- 

 Article 15    Retirement Compensation of Directors and Corporate Auditors 
  

	15.1	 	Retirement compensation of BTM’s Directors and Corporate Auditors who will resign before the scheduled merger date may be paid in accordance with the provisions of, or
standards for, BTM’s current retirement compensation for officers with the approval of shareholders at BTM’s ordinary general meeting of shareholders as provided for in Article 5.1 or other general meetings of shareholders to be separately
held. 

  

	15.2	 	Retirement compensation of UFJ’s Directors and Corporate Auditors who will not be appointed as BTM’s Directors or Corporate Auditors in accordance with Article 13 and
former UFJ’s Directors and Corporate Auditors who resigned before the execution date of this Agreement but did not receive retirement compensation upon his or her resignation may be paid with the approval of shareholders at BTM’s general
meeting of shareholders to be held after the Merger in the amount calculated in accordance with the provisions of, or standards for, UFJ’s current retirement compensation for officers. 

  

	15.3	 	The amount of retirement compensation of UFJ’s Directors or Corporate Auditors who will be appointed as BTM’s Directors or Corporate Auditors in accordance with Article 13
shall be determined considering the total of the term of office at UFJ until the date immediately prior to the scheduled merger date and the term of office at BTM. Upon such determination, retirement compensation for the term of office at UFJ shall
be calculated in accordance with the provisions of, or standards for, UFJ’s current retirement compensation for officers. 

  
 Article 16    Amendments of Terms and Conditions of the Merger and Termination of this Agreement 
  

	16.1	 	For the period from the execution date of this Agreement to the effectiveness of the Merger, if, due to Acts of God or for any other reason, any material change occurs to the
financial condition or business results of BTM or UFJ or any event that materially interferes with the execution of the Merger occurs, BTM and UFJ may, upon agreement following consultation, amend the terms and conditions of the Merger or terminate
this Agreement. 

  

	16.2	 	In the event that the performance of any obligations under this Agreement results in a breach of fiduciary duties of BTM’s or UFJ’s Directors or Corporate Auditors, and
BTM and UFJ agree as a result of mutual consultations in good faith, then BTM and UFJ shall amend this Agreement so as not to cause such breach. 

  

	16.3	 	If the merger agreement between Mitsubishi Tokyo Financial Group, Inc. and UFJ Holdings, Inc. (the “Merger Agreement Between Holding Companies”) is amended, BTM and UFJ
may amend this Agreement if BTM and UFJ agree as a result of mutual consultation in good faith that such amendment is necessary. 

  
 Article 17    Validity of this Agreement 
  
 This Agreement shall be nullified if: 
  

	 	(1)	 	an approval of one of the General Meetings of Shareholders for Merger Approval of BTM or UFJ as provided for in Article 5 is not obtained; 

  

	 	(2)	 	an approval or authorization of the relevant authorities prescribed by domestic or foreign laws and ordinances is not obtained before the scheduled merger date, or such approval or
authorization is subject to any condition or limitation that may materially interfere with the execution of the Merger; 

  

	 	(3)	 	the Merger Agreement Between Holding Companies becomes invalid for any reason whatsoever; or 

  

	 	(4)	 	this Agreement is terminated in accordance with Article 16. 

  
 Article 18    Validity of the Merger 
  
 The Merger will become effective provided that the merger pursuant to the Merger Agreement Between Holding Companies has become effective. 
  
 Article 19    Matters not Provided for in this Agreement

  
 Except for the matters provided for in this Agreement,
matters necessary for the Merger shall be resolved in the spirit of this Agreement and upon consultation in good faith between BTM and UFJ. 
  

 -5- 

 IN WITNESS WHEREOF, BTM and UFJ have caused this Agreement to be signed and sealed in duplicate, and
shall each retain one original. 
  
 April 20,
2005 
  

			
	 BTM:
	  	 Nobuo Kuroyanagi

	 	  	 President

	 	  	 The Bank of Tokyo-Mitsubishi, Ltd.

	 	  	 2-7-1, Marunouchi, Chiyoda-ku, Tokyo

		
	 UFJ:
	  	 Takamune Okihara

	 	  	 President

	 	  	 UFJ Bank Limited

	 	  	 3-21-24, Nishiki, Naka-ku, Nagoya-shi

  

 -6- 

 (Attachment 1) 
  
 (Changes are indicated by underlines) 
  

			
	 Current Articles of Incorporation

	  	 Proposed Amendment of Articles of Incorporation

	 CHAPTER I.
 GENERAL PROVISIONS
  
 (Trade Name)

 
 Article 1.
  
 The Bank shall be called “Kabushiki Kaisha Tokyo Mitsubishi Ginko” and shall be called in English “The
Bank of Tokyo-Mitsubishi, Ltd.” (hereinafter referred to as the “Bank”).
	  	 CHAPTER I.
 GENERAL PROVISIONS
  
 (Trade Name)

 
 Article 1.
  
 (No change.)

	  
 (Purpose)
  
 Article 2.
  
 The purpose of the Bank shall be to engage in the following businesses:
  
 1.      To accept
deposits and installment savings, to extend loans, to discount bills and notes and to engage in exchange transactions;
  
 2.      To guarantee obligations of others, to accept bills and notes and to engage in any other
businesses incidental to the banking purposes listed in the preceding item 1;
  
 3.      To underwrite, to conduct offerings for the subscription and sale of, to buy and sell, and
to engage in any other businesses with respect to, government bonds, municipal bonds, government-guaranteed bonds and any other securities;
  
 4.      To engage in, in addition to the businesses enumerated in all of the preceding items of
this Article 2, all businesses that a bank is permitted to engage in under the Banking Law, the Secured Bonds Trust Law, the Law on Recording of Bonds or any other applicable laws; and
  
 5.      Any other matters incidental to or in connection with the
businesses enumerated in all of the preceding items of this Article 2.
  
	  	  
 (Purpose)
  
 Article 2.
  
 (No change.)

			
	 Current Articles of Incorporation

	  	 Proposed Amendment of Articles of Incorporation

	 (Location of Head Office)
  
 Article 3.
  
 The Bank shall have its head office in Chiyoda-ku, Tokyo.
  
 (Method of Public Notice)
  
 Article 4.
  
 Public notices of the Bank shall be given in the Nihon Keizai Shimbun published in Tokyo.
	  	 (Location of Head Office)
  
 Article 3.
  
 (No change.)
  
 (Method of Public Notice)
  
 Article
4.
  
 (No change.)

	  
 CHAPTER II.
 SHARES
  
 (Total Number of Shares Authorized to be Issued)
  
 Article 5.
  
 The aggregate number of shares authorized to be issued by the Bank shall be eight billion two hundred million (8,200,000,000) shares, eight billion
(8,000,000,000) of which being Ordinary Shares, one hundred million (100,000,000) of which being Class 1 Preferred Shares and one hundred million (100,000,000) of which being Class 2 Preferred Shares (in either case, the Preferred
Shares being redeemable pursuant to Article 10-7, Paragraph 2 hereof); provided, however, that if any number of shares are cancelled, such number shall be deducted accordingly from the relevant number of shares authorized to be
issued.
	  	  
 CHAPTER II.
 SHARES
  
 (Total Number of Shares Authorized to be Issued)
  
 Article 5.
  
 The aggregate number of shares authorized to be issued by the Bank shall be eight billion two hundred million (8,200,000,000) shares, eight billion
one hundred million (8,100,000,000) of which being Ordinary Shares and one hundred million (100,000,000) of which being Class 2 Preferred Shares (the Preferred Shares being redeemable pursuant to Article 10-7, Paragraph 2 hereof); provided,
however, that if any number of shares are cancelled, such number shall be deducted accordingly from the relevant number of shares authorized to be issued.

	  
 (Number of Shares of One (1) Unit (Tangen))
  
 Article 6.
  
 1. One thousand (1,000) shares shall constitute one (1) Unit (tangen) of shares of the Bank in respect of both Ordinary
Shares and Preferred Shares.
  
 2. The Bank shall not issue a
share certificate for shares constituting less than one (1) Unit of shares.
	  	  
 (Number of Shares of One (1) Unit (Tangen))
  
 Article 6.
  
 (No change.)

	  
 (Non-entry in a Ledger of Fractional Shares)
  
 Article 7.
  
 Fractional shares, constituting less than one (1) share, shall not be entered nor recorded as fractional shares in a
ledger of fractional shares.
	  	  
 (Non-entry in a Ledger of Fractional Shares)
  
 Article 7.
  
 (No change.)

  

 1-2 

			
	 Current Articles of Incorporation

	  	 Proposed Amendment of Articles of Incorporation

	 (Transfer Agent)
  
 Article 8.
  
 1. The Bank may appoint a transfer agent for its shares.
  
 2. In the event that a transfer agent is to be appointed, the transfer agent and its handling office shall be designated by a resolution of the Board
of Directors, and public notice thereof shall be given.
	  	 (Transfer Agent)
  
 Article 8.
  
 (No change.)

	  
 3. In the event that a transfer agent has been
appointed, the register of shareholders and the register of lost share certificates of the Bank shall be kept at the handling office of the transfer agent. The registration of transfer of shares, the registration of pledges on shares, the procedures
for non-possession or reissuance of share certificates and any other businesses with respect to shares shall be handled by the transfer agent.
	  	 
	  
 (Regulations on Handling Shares)
  
 Article 9.
  
 The denomination of share certificates of the Bank, the registration of transfers of shares, the registration of pledges
on shares, the procedures for non-possession or reissuance of share certificates and any other handling with respect to shares shall be governed by the Regulations on Handling Shares established by the Board of Directors.
	  	  
 (Regulations on Handling Shares)
  
 Article 9.
  
 (No change.)

	  
 (Notification of Name, Address, etc.)
  
 Article 10.
  
 1. Shareholders, registered pledgees or their statutory agents shall notify the Bank of their names, addresses and seal
impressions.
  
 2. A foreigner who is accustomed to signing
his/her name may substitute his/her specimen signature for the seal impression specified in the preceding Paragraph.
  
 3. When any person referred to in Paragraph 1 of this Article 10 resides in a foreign country or area, he/she shall either set up his/her provisional
address in Japan or appoint his/her proxy in Japan and notify the Bank thereof.
  
 4. When there is any change to any matter mentioned in the preceding three Paragraphs of this Article 10, such change shall be notified to the Bank.
	  	  
 (Notification of Names, Addresses, etc.)
  
 Article 10.
  
 (No change.)

  

 1-3 

			
	 Current Articles of Incorporation

	 	 Proposed Amendment of Articles of Incorporation

	 CHAPTER II-2
 PREFERRED SHARES
  
 (Preferred
Dividends)
  
 Article 10-2.
  
 1. The Bank shall pay dividends on Preferred Shares (hereinafter
referred to as the “Preferred Dividends”) in such amount as determined by the resolution of the Board of Directors adopted at the time of issuance of the relevant Preferred Shares, up to three hundred sixty (360) yen per Class 1
Preferred Share per year and up to sixty (60) yen per Class 2 Preferred Share per year, respectively, to the holders of Preferred Shares (hereinafter referred to as the “Preferred Shareholders”) or the registered pledgees who
hold pledges over Preferred Shares (hereinafter referred to as the “Registered Preferred Pledgees”), whose names have been entered or recorded in the latest register of shareholders as of March 31 of each year, with priority over the
holders of Ordinary Shares (hereinafter referred to as the “Ordinary Shareholders”) or the registered pledgees who hold pledges over Ordinary Shares (hereinafter referred to as the “Registered Ordinary Pledgees”); provided,
however, that in the event that the Preferred Interim Dividends provided for in Article 10-3 hereof have been paid in the relevant business year, the amount so paid shall be deducted accordingly from the amount of the Preferred Dividends set forth
above.
	 	 CHAPTER II-2
 PREFERRED SHARES
  
 (Preferred
Dividends)
  
 Article 10-2.
  
 1. The Bank shall pay dividends on Preferred Shares (hereinafter
referred to as the “Preferred Dividends”) in such amount as determined by the resolution of the Board of Directors adopted at the time of issuance of Class 2 Preferred Shares up to sixty (60) yen per Class 2 Preferred Share per year
to the holders of Preferred Shares (hereinafter referred to as the “Preferred Shareholders”) or the registered pledgees who hold pledges over Preferred Shares (hereinafter referred to as the “Registered Preferred Pledgees”),
whose names have been entered or recorded in the latest register of shareholders as of March 31 of each year, with priority over the holders of Ordinary Shares (hereinafter referred to as the “Ordinary Shareholders”) or the registered
pledgees who hold pledges over Ordinary Shares (hereinafter referred to as the “Registered Ordinary Pledgees”); provided, however, that in the event that the Preferred Interim Dividends provided for in Article 10-3 hereof have been paid in
the relevant business year, the amount so paid shall be deducted accordingly from the amount of the Preferred Dividends set forth above.

		
	 2. If the aggregate amount paid to a Preferred Shareholder or Registered Preferred Pledgee as dividends in any particular business year is less than the prescribed
amount of the Preferred Dividends, the unpaid amount of such Preferred Dividends shall not be carried over to nor cumulated in subsequent business years.
	 	 2. (No change.)

		
	 3. The Bank shall not pay to any Preferred Shareholder or Registered Preferred Pledgee any amount of dividends in excess of the prescribed amount of the relevant
Preferred Dividends.
	 	 3. (No change.)

  

 1-4 

			
	 Current Articles of Incorporation

	  	 Proposed Amendment of Articles of Incorporation

	 (Preferred Interim Dividends)
  
 Article 10-3.
  
 In the event of payment of the Interim Dividends
provided for in Article 32 hereof, the Bank shall pay
such amount (hereinafter referred to as
the “Preferred
Interim Dividends”) as determined by the resolution of
the Board of Directors adopted at the time of issuance of
the relevant Preferred Shares up to one hundred eighty
(180) yen per Class 1 Preferred Share and
up to thirty
(30) yen per Class 2 Preferred Share, respectively, to the
Preferred Shareholders or the Registered Preferred
Pledgees with priority over the Ordinary Shareholders or
the Registered Ordinary
Pledgees.
	  	 (Preferred Interim Dividends)
  
 Article 10-3.
  
 In the event of payment of the Interim
Dividends provided for in Article 32 hereof, the Bank
shall pay such amount (hereinafter referred to as
the
“Preferred Interim Dividends”) as determined by the
resolution of the Board of Directors adopted at the
time of issuance of Class 2 Preferred Shares up to
thirty (30) yen per Class 2 Preferred Share to
the
Preferred Shareholders or the Registered Preferred
Pledgees with priority over the Ordinary Shareholders
or the Registered Ordinary Pledgees.

	  
 (Distribution of Residual Assets)
  
 Article 10-4.
  
 1. If the Bank distributes its residual assets upon liquidation, the Bank shall pay the amount of three thousand
(3,000) yen per Class 1 Preferred Share and two thousand five hundred (2,500) yen per Class 2 Preferred Share, respectively, to the Preferred Shareholders or the Registered Preferred Pledgees with priority over the Ordinary Shareholders
or the Registered Ordinary Pledgees.
  
 2. The Bank shall not
make a distribution of residual assets other than as provided for in the preceding Paragraph of this Article 10-4 to the Preferred Shareholders or the Registered Preferred Pledgees.
	  	  
 (Distribution of Residual Assets)
  
 Article 10-4.
  
 1. If the Bank distributes its residual assets upon liquidation, the Bank shall pay the amount of two thousand five
hundred (2,500) yen per Class 2 Preferred Share to the Preferred Shareholders or the Registered Preferred Pledgees with priority over the Ordinary Shareholders or the Registered Ordinary Pledgees.
  
 2. (No change.)

	  
 (Voting Rights)
  
 Article 10-5.
  
 Unless otherwise provided for by laws or regulations, the Preferred Shareholders shall not have voting rights at any
general meeting of shareholders.
	  	  
 (Voting Rights)
  
 Article 10-5.
  
 (No change.)

	  
 (Consolidation or Split of Shares and Subscription Rights,
etc.)
  
 Article 10-6.
  
 1. Unless otherwise provided for by laws or regulations, the Bank shall
not consolidate or split any Preferred Shares.
  
 2. The Bank
shall not grant the Preferred Shareholders any rights to subscribe for new shares or bonds with stock acquisition rights.
	  	  
 (Consolidation or Split of Shares and Subscription Rights,
etc.)
  
 Article 10-6.
  
 (No change.)

  

 1-5 

			
	 Current Articles of Incorporation

	 	 Proposed Amendment of Articles of Incorporation

	 (Cancellation of Preferred Shares)
  
 Article 10-7.
  
 1. The Bank may, at any time, purchase Preferred Shares at the purchase price thereof by appropriation of retained earnings distributable to
shareholders and cancel them.
	 	 (Cancellation of Preferred Shares)
  
 Article 10-7.
  
 1. (No change.)

	  
 2. The Bank may, after issuance of Preferred Shares
and after the lapse of the period designated by the resolution of the Board of Directors adopted at the time of the issuance of such Preferred Shares, redeem the relevant Preferred Shares, in whole or in part, at such time and at such redemption
price as deemed appropriate giving due consideration to the prevailing market conditions, as determined by relevant resolution. Partial redemption shall be effected by way of lot or other method.
	 	  
 2. (No change.)

	  
 3. The cancellation of Preferred Shares pursuant
to Paragraph 1 of this Article 10-7 may be made in respect of either or both of Class 1 Preferred Shares and Class 2 Preferred Shares.
	 	  
 (Deleted.)

	  
 (Order of Priority)
  
 Article 10-8.
  
 The Class 1 Preferred Shares and Class 2 Preferred Shares shall rank pari passu with each other in respect of
the payment of the Preferred Dividends, the Preferred Interim Dividends and the distribution of residual assets.
	 	  
  
 (Deleted.)

	  
 (Prescription Period)
  
 Article 10-9.
  
 The provision of Article 33 hereof shall apply mutatis mutandis to the payment of the Preferred Dividends and the
Preferred Interim Dividends.
	 	  
 (Prescription Period)
  
 Article 10-8.
  
 (No change.)

  

 1-6 

			
	 Current Articles of Incorporation

	  	 Proposed Amendment of Articles of Incorporation

	 CHAPTER III.
 GENERAL MEETING OF SHAREHOLDERS
  
 (Convocation)
  
 Article 11.
  
 1. An ordinary general meeting of shareholders shall be convened within
three (3) months from the last day of each business year.
  
 2. An extraordinary general meeting of shareholders shall be convened whenever necessary.
	  	 CHAPTER III.
 GENERAL MEETING OF SHAREHOLDERS
  
 (Convocation)
  
 Article 11.
  
 (No change.)

	  
 (Chairman)
  
 Article 12.
  
 1. The President of the Bank shall act as chairman of the general meetings of shareholders.
  
 2. If the President is unable to act as such, one of the Deputy
Presidents shall act as chairman in accordance with the order of priority previously determined by the Board of Directors. If any Deputy President is also unable to act as such, one of the Senior Managing Directors or Managing Directors shall act as
chairman in accordance with the order of priority previously determined by the Board of Directors.
	  	  
 (Chairman)
  
 Article 12.
  
 (No change.)

	  
 (Method of Resolution)
  
 Article 13.
  
 1. Unless otherwise provided for by law or regulation or these Articles of Incorporation, resolutions of a general
meeting of shareholders shall be adopted by an affirmative vote of a majority of the voting rights of the shareholders in attendance.
  
 2. Resolutions of a general meeting of shareholders provided for in Article 343 of the Commercial Code and resolutions of a general meeting of
shareholders for which the method of resolution provided for in such Article 343 shall be applied mutatis mutandis pursuant to the Commercial Code and other laws and regulations shall be adopted by an affirmative vote of two-thirds (2/3) or
more of the voting rights of the shareholders in attendance who hold in the aggregate not less than one-third (1/3) of the total number of voting rights of all shareholders.
	  	  
 (Method of Resolution)
  
 Article 13.
  
 (No change.)

  

 1-7 

			
	 Current Articles of Incorporation

	 	 Proposed Amendment of Articles of Incorporation

	 (Voting by Proxy)
  
 Article 14.
  
 1. Shareholders may exercise their voting rights at a general meeting of shareholders by appointing a proxy who is a shareholder of the Bank entitled
to exercise its own voting rights at such meeting.
  
 2. In
the case of the preceding Paragraph of this Article 14, the shareholder or the proxy thereof shall submit to the Bank, for each general meeting of shareholders, a document evidencing authority of the proxy to act as such.
	 	 (Voting by Proxy)
  
 Article 14.
  
 (No change.)

	  
 (Minutes)
  
 Article 15.
  
 The substance of proceedings and the results of general meetings of shareholders shall be stated or recorded in the
minutes, to which the chairman of the meeting and the Directors present shall put their names and affix their seals or affix electronic signatures. The original copy of such minutes shall be kept at the head office for ten (10) years and a certified
copy thereof shall be kept at each branch office for five (5) years.
	 	  
 (Minutes)
  
 Article 15.
  
 (No change.)

	  
 (General Meetings of Class Shareholders)
  
 Article 15-2.
  
 The provisions of Articles 12, 14 and 15 hereof shall apply mutatis mutandis to general meetings of class
shareholders.
	 	  
 (General Meetings of Class Shareholders)
  
 Article 15-2.
  
 (No change.)

  

 1-8 

			
	 Current Articles of Incorporation

	  	 Proposed Amendment of Articles of Incorporation

	 CHAPTER IV.
 DIRECTORS AND BOARD OF DIRECTORS
  
 (Number of
Directors and Method of Election)
  
 Article 16.
  
 1. The Bank shall have not more than twenty (20) Directors, who shall be
elected at a general meeting of shareholders.
  
 2. At the
time of the election of Directors, there shall be in attendance shareholders who hold voting rights representing in the aggregate one-third (1/3) or more of the total number of voting rights of all shareholders and no cumulative voting shall be made
for the election of Directors.
	  	 CHAPTER IV.
 DIRECTORS AND BOARD OF DIRECTORS
  
 (Number of
Directors and Method of Election)
  
 Article 16.
  
 (No change.)

	  
 (Term of Office)
  
 Article 17.
  
 The term of office of Directors shall expire at the close of the ordinary general meeting of shareholders held in
respect of the last fiscal term ending two (2) years after their assumption of office.
  
 (Representative Director and Directors with Executive Power)
  
 Article 18.
  
 1. The Board of Directors
shall, by resolution, elect Representative Director(s) from among the Directors.
  
 2. Representative Directors shall severally represent the Bank.
  
 3. The Board of Directors shall, by resolution, appoint one (1) President and several Deputy Presidents from among the Directors.
  
 4. The Board of Directors may, by resolution, appoint several Senior
Managing Directors and Managing Directors from among the Directors.
  
 5. The Board of Directors may, by resolution, appoint one (1) Chairman and Director and one (1) Deputy Chairman and Director from among the Directors.
	  	  
 (Term of Office)
  
 Article 17.
  
 (No change.)
  
  
  
 (Representative Director and Directors with Executive Power)
  
 Article 18.
  
 (No
change.)

  

 1-9 

			
	 Current Articles of Incorporation

	  	 Proposed Amendment of Articles of Incorporation

	 (Duties of Directors with Executive Power)
  
 Article 19.
  
 1. The President shall preside over the business affairs of the Bank.
  
 2. The Deputy Presidents shall assist the President in managing the business affairs of the Bank, and shall act as the
President if the President is unable to act as such.
  
 3. The
Senior Managing Directors and the Managing Directors shall assist the President and the Deputy Presidents in managing the day to day business affairs of the Bank, and shall act as the President and the Deputy Presidents if the President and the
Deputy Presidents are unable to act as such.
	  	 (Duties of Directors with Executive Power)
  
 Article 19.
  
 (No change.)

	  
 (Board of Directors)
  
 Article 20.
  
 1. The Board of Directors shall determine the management of the business affairs of the Bank and supervise the
performance of duties of Directors.
  
 2. Notice to convene a
meeting of the Board of Directors shall be given to each Director and Corporate Auditor at least three (3) days prior to the date of such meeting.
  
 3. Unless otherwise provided for by law or regulation, resolutions of a meeting of the Board of Directors shall be adopted by an affirmative vote of a
majority of the Directors present who constitute in number a majority of all of the Directors.
  
 4. The substance of proceedings and the results of meetings of the Board of Directors shall be stated or recorded in the minutes, to which the
Directors and Corporate Auditors present shall put their names and affix their seals or affix electronic signatures. Such minutes shall be kept at the head office for ten (10) years.
	  	  
 (Board of Directors)
  
 Article 20.
  
 (No change.)

  

 1-10 

			
	 Current Articles of Incorporation

	  	 Proposed Amendment of Articles of Incorporation

	 CHAPTER V.
 CORPORATE AUDITORS AND
 BOARD OF CORPORATE AUDITORS
  
 (Number of Corporate Auditors and Method of
Election)
  
	  	 CHAPTER V.
 CORPORATE AUDITORS AND
 BOARD OF CORPORATE AUDITORS
  
 (Number of Corporate Auditors and Method of Election)
  

	 Article 21.
  
 1. The Bank shall have not more than eight (8) Corporate Auditors, who shall be elected at a general meeting of shareholders.
  
 2. At the time of the election of Corporate Auditors, there shall be in
attendance shareholders who hold voting rights representing in the aggregate one-third (1/3) or more of the total number of voting rights of all shareholders.
	  	 Article 21.
  
 (No change.)

	  
 (Full-time Corporate Auditors)
  
 Article 22.
  
 The Corporate Auditors shall appoint several full-time Corporate Auditors from among themselves.
	  	  
 (Full-time Corporate Auditors)
  
 Article 22.
  
 (No change.)

	  
 (Term of Office)
  
 Article 23.
  
 The term of office of Corporate Auditors shall expire at the close of the ordinary general meeting of shareholders held
in respect of the last fiscal term ending four (4) years after their assumption of office.
	  	  
 (Term of Office)
  
 Article 23.
  
 (No change.)

	  
 (Board of Corporate Auditors)
  
 Article 24.
  
 1. The Board of Corporate Auditors shall have the authority provided for by law and regulation and also shall determine
matters concerning the performance of duties of Corporate Auditors; provided, however, that the Board of Corporate Auditors shall not interfere with the exercise by the Corporate Auditors of their power and authority.
  
 2. Notice to convene a meeting of the Board of Corporate Auditors shall
be given to each Corporate Auditor at least three (3) days prior to the date of such meeting.
	  	  
 (Board of Corporate Auditors)
  
 Article 24.
  
 (No change.)

  

 1-11 

			
	 Current Articles of Incorporation

	  	 Proposed Amendment of Articles of Incorporation

	 3. Unless otherwise provided for by law or regulation, resolutions of a meeting of the Board of Corporate Auditors shall be
adopted by an affirmative vote of a majority of the Corporate Auditors.
  
 4. The substance of proceedings and the result of meetings of the Board of Corporate Auditors shall be stated or recorded in the minutes, to which the Corporate Auditors present shall put their names and affix their
seals or affix electronic signatures. Such minutes shall be kept at the head office for ten (10) years.
	  	 
	  
 CHAPTER VI.
 TOKYO MITSUBISHI GINKO SAIKEN
 (BANK
OF TOKYO-MITSUBISHI
DEBENTURES)
	  	  
 CHAPTER VI.
 TOKYO MITSUBISHI GINKO SAIKEN
 (BANK
OF TOKYO-MITSUBISHI DEBENTURES)

	  
 (Ground for Issuance)
  
 Article 25.
  
 The Bank may issue debentures in accordance with the approval of the Minister of Finance as provided pursuant to the
Financial Institutions Amalgamation and Conversion of Business Act.
	  	  
 (Ground for Issuance)
  
 Article 25.
  
 (No change.)

	  
 (Name of Debentures)
  
 Article 26.
  
 Debentures to be issued by the Bank pursuant to the preceding Article 25 shall be called Tokyo Mitsubishi Ginko Saiken
(Bank of Tokyo-Mitsubishi Debentures).
	  	  
 (Name of Debentures)
  
 Article 26.
  
 (No change.)

	  
 (Regulations Governing Bank of Tokyo-Mitsubishi
Debentures)
  
 Article 27.
  
 The procedures concerning the conversion of bearer debenture
certificates to registered debenture certificates and vice versa, the recordation of debentures held in trust, the delivery of new debenture certificates and/or new coupons, the registration of transfer of registered debentures, the registration of
pledges on registered debentures, and any other handling and its fees with respect to debentures shall be governed by the Regulations Governing the Bank of Tokyo-Mitsubishi Debentures established by the Bank.
	  	  
 (Regulations Governing Bank of Tokyo-Mitsubishi
Debentures)
  
 Article 27.
  
 (No change.)

	  
 (Notification of Name and Address, etc.)
  
 Article 28.
  
 The provisions of Article 10 hereof shall apply mutatis mutandis to registered debentures.
	  	  
 (Notification of Names and Addresses, etc.)
  
 Article 28.
  
 (No change.)

  

 1-12 

			
	 Current Articles of Incorporation

	  	 Proposed Amendment of Articles of Incorporation

	 CHAPTER VII.
 ACCOUNTS
  
 (Business Year and Fiscal
Term)
  
 Article 29.
  
 The business year of the Bank shall commence on April 1 of each year and
end on March 31 of the following year and the fiscal term of each business year shall be settled as of the last day of such business year.
	  	 CHAPTER VII.
 ACCOUNTS
  
 (Business Year and Fiscal
Term)
  
 Article 29.
  
 (No change.)

	  
 (Disposal of Profits)
  
 Article 30.
  
 Unless otherwise provided for by laws or regulations, profits of the Bank shall be disposed of pursuant to a resolution
of a general meeting of shareholders.
	  	  
 (Disposal of Profits)
  
 Article 30.
  
 (No change.)

	  
 (Dividends)
  
 Article 31.
  
 Dividends shall be paid to the shareholders or the registered pledgees whose names have been entered or recorded in the
latest register of shareholders as of March 31 of each year.
	  	  
 (Dividends)
  
 Article 31.
  
 (No change.)

	  
 (Interim Dividends)
  
 Article 32.
  
 By a resolution of the Board of Directors, the Bank may pay cash pursuant to Article 293-5 of the Commercial Code
(hereinafter referred to as the “Interim Dividends”) to the shareholders or registered pledgees whose names have been entered or recorded in the latest register of shareholders as of September 30 of each year.
	  	  
 (Interim Dividends)
  
 Article 32.
  
 (No change.)
  

	  
 (Prescription Period)
  
 Article 33.
  
 The Bank shall be released from the obligation to pay dividends or the Interim Dividends to particular shareholders
after the lapse of five (5) full years from the date of commencement of payment thereof, where such shareholders have not accepted such payment.
	  	  
 (Prescription Period)
  
 Article 33.
  
 (No change.)

		
	- End -	  	- End -

  

 1-13 

 (Attachment 2) 
  
 (Changes are indicated by underlines) 
  

			
	 Articles of Incorporation as Amended as
 Described in Attachment 1

	  	 Proposed Amendment of Articles of Incorporation

		
	 CHAPTER I.
 GENERAL PROVISIONS
  
 (Trade Name)

 
 Article 1.
  
 The Bank shall be called “Kabushiki Kaisha Tokyo Mitsubishi Ginko” and shall be called in English
“The Bank of Tokyo-Mitsubishi, Ltd.” (hereinafter referred to as the “Bank”).
	  	 CHAPTER I.
 GENERAL PROVISIONS
  
 (Trade Name)

 
 Article 1.
  
 The Bank shall be called “Kabushiki Kaisha Mitsubishi-Tokyo UFJ Ginko” and shall be called in English
“The Bank of Tokyo-Mitsubishi, UFJ, Ltd.” (hereinafter referred to as the “Bank”).

		
	 (Purpose)
  
 Article 2.
  
 The purpose of the Bank shall be to engage in the following businesses:
  
 1. To accept deposits and installment savings, to extend loans, to discount bills and notes and to engage in exchange
transactions;
  
 2. To guarantee obligations of others, to accept bills and notes
and to engage in any other businesses incidental to the banking purposes listed in the preceding item 1;
  
 3. To underwrite, to conduct offerings for the subscription and sale of, to buy and sell, and to engage in any other businesses with respect to, government bonds, municipal bonds, government-guaranteed bonds and any
other securities;
  
 4. To engage in, in addition to the businesses enumerated in
all of the preceding items of this Article 2, all businesses that a bank is permitted to engage in under the Banking Law, the Secured Bonds Trust Law, the Law on Recording of Bonds or any other applicable laws; and
  
 5. Any other matters incidental to or in connection with the businesses enumerated in all of
the preceding items of this Article 2.
	  	 (Purpose)
  
 Article 2.
  
 (No change.)

		
	 (Location of Head Office)
  
 Article 3.
  
 The Bank shall have its head office in Chiyoda-ku, Tokyo.
	  	 (Location of Head Office)
  
 Article 3.
  
 (No change.)

			
	 Articles of Incorporation as Amended as
 Described in Attachment 1

	  	 Proposed Amendment of Articles of Incorporation

	 (Method of Public Notice)
  
 Article 4.
  
 Public notices of the Bank shall be given in the Nihon Keizai Shimbun published in Tokyo.
	  	 (Method of Public Notice)
  
 Article 4.
  
 Public notices of the Bank shall be given in the Nihon Keizai Shimbun.

		
	 CHAPTER II.
 SHARES
  
 (Total Number of Shares Authorized to be
Issued)
  
 Article 5.
  
 The aggregate number of shares authorized to be issued by the Bank shall
be eight billion two hundred million (8,200,000,000) shares, eight billion one hundred million (8,100,000,000) of which being Ordinary Shares and one hundred million (100,000,000) of which being Class 2 Preferred Shares (the Preferred Shares
being redeemable pursuant to Article 10-7, Paragraph 2 hereof); provided, however, that if any number of shares are cancelled, such number shall be deducted accordingly from the relevant number of shares authorized to be issued.
  
	  	 CHAPTER II.
 SHARES
  
 (Total Number of Shares Authorized to be
Issued)
  
 Article 5.
  
 The aggregate number of shares authorized to be issued by the Bank shall
be fifteen billion six hundred million (15,600,000,000) shares, the details of which shall be as set forth below (Class 2 Preferred Shares are Preferred Shares redeemable pursuant to Article 9-9, Paragraph 2 hereof); provided, however,
that if any number of shares are cancelled or any number of Class 3 Preferred Shares through Class 5 Preferred Shares are converted into Ordinary Shares, such number shall be deducted accordingly from the relevant number of shares authorized
to be issued.
  
 Ordinary Shares:
  
 fifteen billion (15,000,000,000) shares
  
 Class 2 Preferred Shares:
  
 one hundred million (100,000,000) shares
  
 Class 3 Preferred Shares:
  
 two hundred million (200,000,000) shares
  
 Class 4 Preferred Shares:
  
 one hundred fifteen million (150,000,000) shares
  
 Class 5 Preferred Shares:
  
 one hundred fifteen million (150,000,000)
shares

  

 2-2 

			
	 Articles of Incorporation as Amended as
 Described in Attachment 1

	  	 Proposed Amendment of Articles of Incorporation

	  
 (Newly established.)
	  	 (Purchase and Cancellation of Shares)
  
 Article 5-2.
  
 If the Bank purchases or cancels Ordinary Shares and/or any class of Preferred Shares, such purchase or cancellation may be made in respect of any
of one or more classes of the shares.

		
	 (Number of Shares of One (1) Unit (Tangen))
  
 Article 6.
  
 1. One thousand (1,000) shares shall constitute one (1) Unit (tangen) of shares of the Bank in respect of both Ordinary Shares and Preferred Shares.
  
 2. The Bank shall not issue a share certificate for shares constituting less than one (1) Unit of shares.
	  	 (Number of Shares of One (1) Unit (Tangen))
  
 Article 6.
  
 1. (No change.)
  
 2. Unless the Bank deems
necessary for shareholders, the Bank shall not issue a share certificate representing shares constituting less than one (1) Unit of shares.

		
	 (Non-entry in a Ledger of Fractional Shares)
  
 Article 7.
  
 Fractional shares, constituting less than one (1) share, shall not be entered nor recorded as fractional shares in a ledger of fractional
shares.
	  	 (Non-entry in a Ledger of Fractional Shares)
  
 Article 7.
  
 (No change.)

		
	 (Transfer Agent)
  
 Article 8.
  
 1. The Bank may appoint a transfer agent for its shares.
  
 2. In the event that a transfer agent is to be appointed, the transfer agent and its handling office shall be designated by a resolution of the Board of Directors, and public notice thereof shall be
given.
  
 3. In the event that a transfer agent has been appointed, the
register of shareholders and the register of lost share certificates of the Bank shall be kept at the handling office of the transfer agent. The registration of transfer of shares, the registration of pledges on shares, the procedures for
non-possession or reissuance of share certificates and any other businesses with respect to shares shall be handled by the transfer agent.
	  	 (Transfer Agent)
  
 Article 8.
  
 1. (No change.)
  
 2. In the event that a
transfer agent is to be appointed, the transfer agent and its handling office shall be designated by a resolution of the Board of Directors.
  
 3. (No change.)

  

 2-3 

			
	 Articles of Incorporation as Amended as
 Described in Attachment 1

	  	 Proposed Amendment of Articles of Incorporation

	 (Regulations on Handling Shares)
  
 Article 9.
  
 The denomination of share certificates of the Bank, the registration of transfers of shares, the registration of pledges on shares, the procedures for
non-possession or reissuance of share certificates and any other handling with respect to shares shall be governed by the Regulations on Handling Shares established by the Board of Directors.
	  	 ([Regulations on Handling Shares])
  
 Article 9.
  
 (No change.)

		
	 (Notification of Name, Address, etc.)
  
 Article 10.
  
 1. Shareholders, registered pledgees or their statutory agents shall notify the Bank of their names, addresses and seal impressions.
  
 2. A foreigner who is accustomed to signing his/her name may substitute his/her specimen signature for the seal impression indicated in
the preceding Paragraph.
  
 3. When any person referred to in Paragraph 1
of this Article 10 resides in a foreign country or area, he/she shall either set up his/her provisional address in Japan or appoint his/her proxy in Japan and notify the Bank thereof.
  
 4. When there is any change to any matter mentioned in the preceding three Paragraphs of this Article 10, such change shall be notified
to the Bank.
	  	(Deleted.)
		
	 CHAPTER II-2
 PREFERRED SHARES
  
 (Preferred
Dividends)
  
 Article 10-2.
  
 1. The Bank shall pay dividends on Preferred Shares (hereinafter referred to as the
“Preferred Dividends”) in such amount as determined by the resolution of the Board of Directors adopted at the time of issuance of Class 2 Preferred Shares up to sixty (60) yen per Class 2 Preferred Share per year to the holders of
Preferred Shares (hereinafter referred to as the “Preferred Shareholders”) or the registered pledgees who hold pledges over Preferred Shares (hereinafter referred to as the “Registered Preferred Pledgees”), whose names have been
entered or recorded in the latest register of shareholders as of March 31 of each year, with priority
	  	 CHAPTER II-2
 PREFERRED SHARES
  
 (Preferred
Dividends)
  
 Article 9-2.
  
 1. The Bank shall pay dividends on Preferred Shares (hereinafter referred to as the
“Preferred Dividends”) in such respective amount as prescribed below to the holders of Preferred Shares (hereinafter referred to as the “Preferred Shareholders”) or the registered pledgees who hold pledges over Preferred
Shares (hereinafter referred to as the “Registered Preferred Pledgees”), whose names have been entered or recorded in the latest register of shareholders as of March 31 of each year, with priority over the holders of Ordinary Shares
(hereinafter referred to as the “Ordinary Shareholders”) or the registered pledgees

  

 2-4 

			
	 Articles of Incorporation as Amended as
 Described in Attachment 1

	  	 Proposed Amendment of Articles of Incorporation

	 over the holders of Ordinary Shares (hereinafter referred to as the “Ordinary Shareholders”) or the registered pledgees who hold pledges
over Ordinary Shares (hereinafter referred to as the “Registered Ordinary Pledgees”); provided, however, that in the event that the Preferred Interim Dividends provided for in Article 10-3 hereof have been paid in the relevant
business year, the amount so paid shall be deducted accordingly from the amount of the Preferred Dividends set forth above.
  
  
  
  
 2. If the aggregate amount paid to a Preferred Shareholder or Registered Preferred Pledgee as dividends in any particular business year is less than the prescribed amount
of the Preferred Dividends, the unpaid amount of such Preferred Dividends shall not be carried over to nor cumulated in subsequent business years.
  
 3. The Bank shall not pay to any Preferred Shareholder or Registered Preferred Pledgee any amount of dividends in excess of the prescribed amount of the relevant
Preferred Dividends.
	  	 who hold pledges over Ordinary Shares (hereinafter referred to as the “Registered Ordinary Pledgees”); provided, however, that in the event
that the Preferred Interim Dividends provided for in Article 9-3 hereof have been paid in the relevant business year, the amount so paid shall be deducted accordingly from the amount of the Preferred Dividends set forth below.
  
 Class 2 Preferred Shares:
  
 sixty (60) yen per share per year
  
 Class 3 Preferred Shares:
  
 fifteen and nine-tenths (15.90) yen per share per year

 
 Class 4 Preferred Shares:
  
 eighteen and six-tenths (18.60) yen per share per year

 
 Class 5 Preferred Shares:
  
 nineteen and four-tenths (19.40) yen per share per
year
  
 2. (No change in translation.)
  
  
 3. (No
change.)

		
	 (Preferred Interim Dividends)
  
 Article 10-3.
  
 In the event of payment of the Interim Dividends provided for in Article 32 hereof, the Bank shall pay such amount (hereinafter referred to as
the “Preferred Interim Dividends”) as determined by the resolution of the Board of Directors adopted at the time of issuance of Class 2 Preferred Shares up to thirty (30) yen per Class 2 Preferred Share to the Preferred Shareholders
or the Registered Preferred Pledgees with priority over the
	  	 (Preferred Interim Dividends)
  
 Article 9-3.
  
 In the event of payment of the Interim Dividends provided for in Article 32 hereof, the Bank shall pay such respective amount (hereinafter
referred to as the “Preferred Interim Dividends”) as prescribed below to the Preferred Shareholders or the Registered Preferred Pledgees with priority over the Ordinary Shareholders or the Registered Ordinary
Pledgees.

  

 2-5 

			
	 Articles of Incorporation as Amended as
 Described in Attachment 1

	  	 Proposed Amendment of Articles of Incorporation

	Ordinary Shareholders or the Registered Ordinary Pledgees.	  	 Class 2 Preferred Shares:
  
 thirty (30) yen per share
  
 Class 3 Preferred Shares:
  
 seven and ninety-five hundredths (7.95) yen per share
  

Class 4 Preferred Shares:
  
 nine and three-tenths (9.30) yen per share
  
 Class 5 Preferred Shares:
  
 nine and seven-tenths (9.70) yen per share

		
	 (Distribution of Residual Assets)
  
 Article 10-4.
  
 1. If the Bank distributes its residual assets upon liquidation, the Bank shall pay the amount of two thousand five hundred (2,500) yen per Class 2 Preferred Share to the Preferred Shareholders or the
Registered Preferred Pledgees with priority over the Ordinary Shareholders or the Registered Ordinary Pledgees.
  
  
  
 2. The Bank shall not make a distribution of residual assets
other than as provided for in the preceding Paragraph of this Article 10-4 to the Preferred Shareholders or the Registered Preferred Pledgees.
	  	 (Distribution of Residual Assets)
  
 Article 9-4.
  
 1. If the Bank distributes its residual assets upon liquidation, the Bank shall pay such respective amount as prescribed below to the Preferred Shareholders or the Registered Preferred Pledgees with priority
over the Ordinary Shareholders or the Registered Ordinary Pledgees.
  
 Class 2
Preferred Shares:
  
 two thousand five hundred (2,500)
yen per share
  
 Class 3 Preferred Shares:
  
 three thousand (3,000) yen per share
  
 Class 4 Preferred Shares:
  
 two thousand (2,000) yen per share
  
 Class 5 Preferred Shares:
  
 two thousand (2,000) yen per share
  
 2. (No change.)

  

 2-6 

			
	 Articles of Incorporation as Amended as
 Described in Attachment 1

	  	 Proposed Amendment of Articles of Incorporation

	 (Voting Rights)
  
 Article 10-5.
  
 Unless otherwise provided for by laws or regulations, the Preferred Shareholders shall not have voting rights at any general meeting of
shareholders.
	  	 (Voting Rights)
  
 Article 9-5.
  
 Unless otherwise provided for by laws or regulations, the Preferred Shareholders shall not have voting rights at any general meeting of
shareholders; provided, however, that the Preferred Shareholders shall have voting rights from (i) the commencement of an ordinary general meeting of shareholders in the event that no proposal for declaration of the Preferred Dividends be paid to
the Preferred Shareholders is submitted to such ordinary general meeting of shareholders or (ii) the close of an ordinary general meeting of shareholders in the event that such proposal is rejected at such ordinary general meeting of shareholders,
until, in either case, a proposal for declaration of the Preferred Dividends be paid to the Preferred Shareholders is approved at an ordinary general meeting of shareholders.

		
	 (Consolidation or Split of Shares and Subscription Rights, etc.)
  
 Article 10-6.
  
 1. Unless otherwise provided for by laws or regulations, the Bank shall not consolidate or split any Preferred Shares.
  
 2. The Bank shall not grant the Preferred Shareholders any rights to subscribe for new
shares or bonds with stock acquisition rights.
  
 (Newly
established.)
	  	 (Consolidation or Split of Preferred Shares and Subscription Rights, etc.)
  
 Article 9-6.
  
 1. (No change.)
  
  
  
 2. The Bank
shall not grant the Preferred Shareholders any rights to subscribe for new shares, stock acquisition rights or bonds with stock acquisition rights.
  
 (Conversion into Ordinary Shares)
  
 Article 9-7.
  
 Any holder of Class 3 Preferred Shares through Class 5 Preferred Shares may request conversion of the relevant Preferred Shares into Ordinary
Shares during the period in which such Preferred Shareholder is entitled to request conversion as prescribed in the merger agreement, the execution of which, in accordance with the provisions of Article 408 of the Commercial Code, was approved at
both of the general meeting of shareholders of the Bank held on June 28, 2005 and the general meeting of shareholders of the UFJ Bank Limited held on June 29, 2005, pursuant to the terms of conversion prescribed in such merger
agreement.

  

 2-7 

			
	 Articles of Incorporation as Amended as
 Described in Attachment 1

	  	 Proposed Amendment of Articles of Incorporation

	(Newly established.)	  	 (Mandatory Conversion)
  
 Article 9-8.
  
 1. Any of the Class 3 Preferred Shares through Class 5 Preferred Shares, for which no request for conversion into Ordinary Shares is made during the period in which the holder of such Preferred Shares is entitled
to request conversion shall be mandatorily converted on the day immediately following the last day of such period (hereinafter referred to as the “Mandatory Conversion Date”) into Ordinary Shares in the number as is obtained by dividing
the amount equivalent to the subscription price per relevant Preferred Share by the average (such average shall be calculated to the second decimal place denominated in yen and rounded up to the first decimal place when the fraction beyond it is
equal to or more than 0.05 yen, discarding amounts less than 0.05 yen.) of one-thousandth of each daily closing price (including closing bids or offered prices) of Ordinary Shares of Mitsubishi UFJ Financial Group, Inc. (in regular trading) as
reported by the Tokyo Stock Exchange for the thirty (30) consecutive trading days (excluding a trading day or days on which no closing price or closing bid or offered price is reported) commencing on the forty-fifth (45th) trading day prior to the
Mandatory Conversion Date. If the relevant average price is less than such respective amount as set forth below, the relevant Preferred Shares shall be converted into Ordinary Shares in the number as is obtained by dividing an amount equivalent to
the subscription price per relevant Preferred Share by such respective amount as set forth below.
  
 Class 3 Preferred Shares:
  
 one thousand two hundred nine and seven-tenths (1,209.70) yen per share
  
 Class 4 Preferred Shares:
  
 nine hundred
ten and five-tenths (910.50) yen per share
  
 Class 5 Preferred
Shares:
  
 nine hundred ten and five-tenths (910.50)
yen per share

  

 2-8 

			
	 Articles of Incorporation as Amended as
 Described in Attachment 1

	  	 Proposed Amendment of Articles of Incorporation

	 	  	 2. In respect of Class 3 Preferred Shares through Class 5 Preferred Shares, the amount equivalent to the subscription price referred to in the
preceding Paragraph of this Article 9-8 shall be such respective amount as prescribed below.
  
 Class 3 Preferred Shares:
  
 three thousand (3,000) yen per share
  
 Class 4 Preferred
Shares:
  
 two thousand (2,000) yen per
share
  
 Class 5 Preferred Shares:
  
 two thousand (2,000) yen per share
  
 3. In the calculation of the number of Ordinary Shares provided for in Paragraph 1 of
this article, any number less than one (1) share shall be rounded up to the nearest one (1) share.

		
	 (Cancellation of Preferred Shares)
  
 Article 10-7.
  
 1. The Bank may, at any time, purchase Preferred Shares at the purchase price thereof by appropriation of retained earnings distributable to shareholders and
cancel them.
  
 2. The Bank may, after issuance of Preferred Shares and after the
lapse of the period designated by the resolution of the Board of Directors adopted at the time of the issuance of such Preferred Shares, redeem the relevant Preferred Shares, in whole or in part, at such time and at such redemption price as deemed
appropriate giving due consideration to the prevailing market conditions, as determined by relevant resolution. Partial redemption shall be effected by way of lot or other method.
  
 3. (Newly established.)
	  	 (Cancellation of Preferred Shares)
  
 Article 9-9.
  
 1. The Bank may, at any time, purchase Preferred Shares and cancel them.
  
 2. The Bank may, after issuance of Class 2 Preferred Shares and after the lapse of the period designated by the resolution of the Board of Directors adopted at the
time of the issuance of such Preferred Shares, redeem the relevant Preferred Shares, in whole or in part, at such time and at such redemption price as deemed appropriate giving due consideration to the prevailing market conditions, as determined by
relevant resolution. Partial redemption shall be effected by way of lot or other method.
  
 3. The purchase or cancellation of Preferred Shares provided for in Paragraph 1 hereof may be made in respect of any of one or more classes of Preferred Shares.

  

 2-9 

			
	 Articles of Incorporation as Amended as
 Described in Attachment 1

	  	 Proposed Amendment of Articles of Incorporation

	(Newly established.)	  	 (Order of Priority)
  
 Article 9-10.
  
 All classes of Preferred Shares shall rank pari passu with each other in respect of the payment of Preferred Dividends and Preferred Interim
Dividends and the distribution of residual assets.

	  
 (Prescription Period)
  
 Article 10-8.
  
 The provision of Article 33 hereof shall apply mutatis mutandis
to the payment of the Preferred Dividends and the Preferred Interim Dividends.
	  	  
 (Prescription Period)
  
 Article 9-11.
  
 (No change.)

	  
 CHAPTER III.
 GENERAL MEETING OF SHAREHOLDERS
  
 (Convocation)
  
 Article 11.
  
 1. An ordinary
general meeting of shareholders shall be convened within three (3) months from the last day of each business year.
  
 2. An extraordinary general meeting of shareholders shall be convened whenever necessary.
	  	  
 CHAPTER III.
 GENERAL MEETING OF SHAREHOLDERS
  
 (Convocation)
  
 Article 10.
  
 (No change.)

		
	 (Chairman)
  
 Article 12.
  
 1. The President of the Bank shall act as chairman of the general meetings of shareholders.
  
 2. If the President is unable to act as such, one of the Deputy Presidents shall act as chairman in accordance with the order of priority previously determined by the
Board of Directors. If any Deputy President is also unable to act as such, one of the Senior Managing Directors or Managing Directors shall act as chairman in accordance with the order of priority previously determined by the Board of
Directors.
	  	 (Chairman)
  
 Article 11.
  
 (No change.)

	  
 (Method of Resolution)
  
 Article 13.
  
 1. Unless otherwise provided for by law or regulation or these Articles of Incorporation, resolutions of a general meeting of shareholders
shall be adopted by an affirmative vote of a majority of the voting rights of the shareholders in attendance.
	  	  
 (Method of Resolution)
  
 Article 12.
  
 1. (No change in translation.)

  

 2-10 

			
	 Articles of Incorporation as Amended as
 Described in Attachment 1

	  	 Proposed Amendment of Articles of Incorporation

	2. Resolutions of a general meeting of shareholders provided for in Article 343 of the Commercial Code and resolutions of a general meeting of shareholders for which the method of resolution
provided for in such Article 343 shall be applied mutatis mutandis pursuant to the Commercial Code and other laws and regulations shall be adopted by an affirmative vote of two-thirds (2/3) or more of the voting rights of the shareholders in
attendance who hold in the aggregate not less than one-third (1/3) of the total number of voting rights of all shareholders.	  	2. (No change in translation.)
		
	 (Voting by Proxy)
  
 Article 14.
  
 1. Shareholders may exercise their voting rights at a general meeting of shareholders by appointing a proxy who is a shareholder of the Bank entitled to exercise its own voting rights at such meeting.
	  	 (Voting by Proxy)
  
 Article 13.
  
 1. (No change in translation.)

		
	2. In the case of the preceding Paragraph of this Article 14, the shareholder or the proxy thereof shall submit to the Bank, for each general meeting of shareholders, a document evidencing
authority of the proxy to act as such.	  	2. (No change.)
	  
 (Minutes)
  
 Article 15.
  
 The substance of proceedings and the results of general meetings of shareholders shall be stated or recorded in the
minutes, to which the chairman of the meeting and the Directors present shall put their names and affix their seals or affix electronic signatures. The original copy of such minutes shall be kept at the head office for ten (10) years and a certified
copy thereof shall be kept at each branch office for five (5) years.
	  	  
 (Minutes)
  
 Article 14.
  
 (No change.)

	  
 (General Meetings of Class Shareholders)
  
 Article 15-2.
  
 The provisions of Articles 12, 14 and 15 hereof shall apply mutatis mutandis to general
meetings of class shareholders.
	  	  
 (General Meetings of Class Shareholders)
  
 Article 14-2.
  
 The provisions of Articles 11, 13 and 14 hereof shall apply mutatis mutandis to general
meetings of class shareholders.

  

 2-11 

			
	 Articles of Incorporation as Amended as
 Described in Attachment 1

	  	 Proposed Amendment of Articles of Incorporation

		
	 CHAPTER IV.
 DIRECTORS AND BOARD OF DIRECTORS
  
 (Number of
Directors and Method of Election)
  
 Article 16.
  
 1. The Bank shall have not more than twenty (20) Directors, who shall be elected at a
general meeting of shareholders.
  
 2. At the time of the election of Directors,
there shall be in attendance shareholders who hold voting rights representing in the aggregate one-third (1/3) or more of the total number of voting rights of all shareholders and no cumulative voting shall be made for the election of
Directors.
	  	 CHAPTER IV.
 DIRECTORS AND BOARD OF DIRECTORS
  
 (Number of
Directors and Method of Election)
  
 Article 15.
  
 (No change.)

	  
 (Term of Office)
  
 Article 17.
  
 The term of office of Directors shall expire at the close of the ordinary general meeting of shareholders held in
respect of the last fiscal term ending two (2) years after their assumption of office.
	  	  
 (Term of Office)
  
 Article 16.
  
 The term of office of Directors shall expire at the close of the ordinary general meeting of shareholders held in
respect of the last fiscal term ending one (1) year after their assumption of office.

	  
 (Representative Director and Directors with Executive
Power)
  
 Article 18.
  
 1. The Board of Directors shall, by resolution, elect Representative Director(s) from among
the Directors.
	  	  
 (Representative Director and Directors with Executive
Power)
  
 Article 17.
  
 1. (No change in translation.)

		
	2. Representative Directors shall severally represent the Bank.	  	2. (No change.)
		
	3. The Board of Directors shall, by resolution, appoint one (1) President and several Deputy Presidents from among the Directors.	  	3. (No change.)
		
	4. The Board of Directors may, by resolution, appoint several Senior Managing Directors and Managing Directors from among the Directors.	  	4. (No change.)
		
	5. The Board of Directors may, by resolution, appoint one (1) Chairman and Director and one (1) Deputy Chairman and Director from among the Directors.	  	5. (No change.)

  

 2-12 

			
	 Articles of Incorporation as Amended as
 Described in Attachment 1

	  	 Proposed Amendment of Articles of Incorporation

	 (Duties of Directors with Executive Power)
  
 Article 19.
  
 1. The President shall preside over the business affairs of the Bank.
  
 2. The Deputy Presidents shall assist the President in managing the business affairs of the Bank, and shall act as the President if the President is unable to act as such.
	  	 (Duties of Directors with Executive Power)
  
 Article 18.
  
 1. The President shall preside over and conduct the business affairs of the Bank.
  
 2. (No change in translation.)

	  
 3. The Senior Managing Directors and the Managing Directors shall
assist the President and the Deputy Presidents in managing the day to day business affairs of the Bank, and shall act as the President and the Deputy Presidents if the President and the Deputy Presidents are unable to act as such.
	  	  
 3. (No change.)

	  
 (Board of Directors)
  
 Article 20.
  
 1. The Board of Directors shall determine the management of the business affairs of the Bank and supervise the performance of duties of
Directors.
	  	  
 (Board of Directors)
  
 Article 19.
  
 1. (No change.)

	  
 2. Notice to convene a meeting of the Board of Directors shall be given
to each Director and Corporate Auditor at least three (3) days prior to the date of such meeting.
	  	  
 2. (No change.)

	  
 3. Unless otherwise provided for by law or regulation, resolutions of a
meeting of the Board of Directors shall be adopted by an affirmative vote of a majority of the Directors present who constitute in number a majority of all of the Directors.
	  	  
 3. (No change in translation.)

	  
 4. The substance of proceedings and the results of meetings of the
Board of Directors shall be stated or recorded in the minutes, to which the Directors and Corporate Auditors present shall put their names and affix their seals or affix electronic signatures. Such minutes shall be kept at the head office for ten
(10) years.
	  	  
 4. (No change.)

		
	(Newly established.)	  	 (Limited Liability Agreement with Outside Director)
  
 Article 20.
  
 Pursuant to the provisions of Article 266, Paragraph 19 of the Commercial Code, the Bank may execute agreements with outside Directors which limit
the liability of such outside Directors arising from any act provided for in Paragraph 1, Item 5 of said Article; provided, however, that the limit on

  

 2-13 

			
	 Articles of Incorporation as Amended as
 Described in Attachment 1

	  	 Proposed Amendment of Articles of Incorporation

	 	  	liability under such agreements shall be the greater of an amount determined in advance which shall not be less than ten million (10,000,000) yen or the amount prescribed by laws or
regulations.
	  
 CHAPTER V.
 CORPORATE AUDITORS AND
 BOARD OF
CORPORATE AUDITORS
  
 (Number of Corporate Auditors and Method
of
Election)
  
 Article 21.
  
 1. The Bank shall have not more than eight (8) Corporate Auditors, who shall be elected at a
general meeting of shareholders.
  
 2. At the time of the election of Corporate
Auditors, there shall be in attendance shareholders who hold voting rights representing in the aggregate one-third (1/3) or more of the total number of voting rights of all shareholders.
	  	  
 CHAPTER V.
 CORPORATE AUDITORS AND
 BOARD OF
CORPORATE AUDITORS
  
 (Number of Corporate Auditors and Method
of Election)
  
 Article 21.
  
 (No change.)

	  
 (Full-time Corporate Auditors)
  
 Article 22.
  
 The Corporate Auditors shall appoint several full-time Corporate Auditors from among themselves.
	  	  
 (Full-time Corporate Auditors)
  
 Article 22.
  
 (No change.)

	  
 (Term of Office)
  
 Article 23.
  
 The term of office of Corporate Auditors shall expire at the close of the ordinary general meeting of shareholders held
in respect of the last fiscal term ending four (4) years after their assumption of office.
	  	  
 (Term of Office)
  
 Article 23.
  
 (No change.)

		
	 (Board of Corporate Auditors)
  
 Article 24.
  
 1. The Board of Corporate Auditors shall have the authority provided for by law and regulation and also shall determine matters concerning the performance of duties of Corporate Auditors; provided, however, that the
Board of Corporate Auditors shall not interfere with the exercise by the Corporate Auditors of their power and authority.
	  	 (Board of Corporate Auditors)
  
 Article 24.
  
 1. (No change.)

  

 2-14 

			
	 Articles of Incorporation as Amended as
 Described in Attachment 1

	  	 Proposed Amendment of Articles of Incorporation

	2. Notice to convene a meeting of the Board of Corporate Auditors shall be given to each Corporate Auditor at least three (3) days prior to the date of such meeting.	  	2. (No change.)
	  
 3. Unless otherwise provided for by law or regulation, resolutions of a
meeting of the Board of Corporate Auditors shall be adopted by an affirmative vote of a majority of the Corporate Auditors.
	  	  
 3. (No change in translation.)

	  
 4. The substance of proceedings and the result of meetings of the Board
of Corporate Auditors shall be stated or recorded in the minutes, to which the Corporate Auditors present shall put their names and affix their seals or affix electronic signatures. Such minutes shall be kept at the head office for ten (10)
years.
	  	  
 4. (No change.)

	  
 CHAPTER VI.
 TOKYO MITSUBISHI GINKO SAIKEN
 (BANK
OF TOKYO-MITSUBISHI
 DEBENTURES)
  
 (Ground for Issuance)
  
 Article 25.
  
 The Bank may issue debentures in accordance with the approval of the Minister of Finance provided pursuant to the Financial Institutions Amalgamation
and Conversion of Business Act.
	  	  
 CHAPTER VI.
 TOKYO MITSUBISHI GINKO SAIKEN
 (BANK
OF TOKYO-MITSUBISHI
 DEBENTURES)
  
 (Ground for Issuance)
  
 Article 25.
  
 (No change.)

		
	 (Name of Debentures)
  
 Article 26.
  
 Debentures to be issued by the Bank pursuant to the preceding Article 25 shall be called Tokyo Mitsubishi Ginko Saiken (Bank of Tokyo-Mitsubishi
Debentures).
	  	 (Name of Debentures)
  
 Article 26.
  
 (No change.)

		
	 (Regulations Governing Bank of Tokyo-Mitsubishi Debentures)
  
 Article 27.
  
 The procedures concerning the conversion of bearer debenture certificates to registered debenture certificates and vice versa, the recordation of
debentures held in trust, the delivery of new debenture certificates and/or new coupons, the registration of transfer of registered debentures, the registration of pledges on
	  	 (Regulations Governing Bank of Tokyo-Mitsubishi Debentures)
  
 Article 27.
  
 (No change.)

  

 2-15 

			
	 Articles of Incorporation as Amended as
 Described in Attachment 1

	  	 Proposed Amendment of Articles of Incorporation

	 registered debentures, and any other handling and its fees with respect to debentures shall be governed by the [Regulations Governing the Bank of
Tokyo-Mitsubishi Debentures] established by the Bank.
  
 (Notification of
Name and Address, etc.)
  
 Article 28.
  
 The provisions of Article 10 hereof shall apply mutatis
mutandis to registered debentures.
	  	  
  
 (Deleted.)

	  
 CHAPTER VII.
 ACCOUNTS
  
 (Business Year and Fiscal Term)
  
 Article 29.
  
 The business year of the Bank shall commence on April 1 of each year and end on March 31 of the following year and the fiscal term of each business
year shall be settled as of the last day of such business year.
	  	  
 CHAPTER VII.
 ACCOUNTS
  
 (Business Year and Fiscal Term)
  
 Article 28.
  
 (No change.)

		
	 (Disposal of Profits)
  
 Article 30.
  
 Unless otherwise provided for by laws or regulations, profits of the Bank shall be disposed of pursuant to a resolution of a general meeting of
shareholders.
	  	 (Disposal of Profits)
  
 Article 29.
  
 (No change in translation.)

	  
 (Dividends)
  
 Article 31.
  
 Dividends shall be paid to the shareholders or the registered pledgees whose names have been entered or recorded in the
latest register of shareholders as of March 31 of each year.
	  	  
 (Dividends)
  
 Article 30.
  
 (No change in translation.)

	  
 (Newly established.)
	  	  
 (Time of Conversion of Preferred Shares and
Dividends)
  
 Article 31.
  
 For the purpose of payment of the first dividends or Interim
Dividends payable on the Ordinary Shares issued upon conversion of Class 3 Preferred Shares through Class 5 Preferred Shares, the conversion shall be deemed to have taken effect as

  

 2-16 

			
	 Articles of Incorporation as Amended as
 Described in Attachment 1

	  	 Proposed Amendment of Articles of Incorporation

	 	  	of April 1, if a request for conversion or mandatory conversion is made during the period from April 1 through September 30, or as of October 1, if such request or conversion is made during
the period from October 1 through March 31 of the following year.
	  
 (Interim Dividends)
  
 Article 32.
  
 By a resolution of the Board of Directors, the Bank may pay cash pursuant to Article 293-5 of the Commercial Code
(hereinafter referred to as the “Interim Dividends”) to the shareholders or registered pledgees whose names have been entered or recorded in the latest register of shareholders as of September 30 of each year.
	  	  
 (Interim Dividends)
  
 Article 32.
  
 (No change.)

	  
 (Prescription Period)
  
 Article 33.
  
 The Bank shall be released from the obligation to pay dividends or the Interim Dividends to particular shareholders
after the lapse of five (5) full years from the date of commencement of payment thereof, where such shareholders have not accepted such payment.
  
 – End –
	  	  
 (Prescription Period)
  
 Article 33.
  
 (No change in translation.)
  
  
 – End –

  

 2-17 

 (Attachment 3) 
  
 (Translation) 
  
 Terms and Conditions to Issuance of Series 1 Class 3 Preferred Shares 
  
 (1) Name of Preferred Shares 
  
 Series 1 Class 3 Preferred Shares of the Bank of Tokyo-Mitsubishi UFJ, Ltd. (hereinafter referred to as the “Preferred Shares”) 
  
 (2) Number of Shares to be Issued 
  
 The number of the Preferred Shares to be issued upon the merger shall be two
hundred million (200,000,000) shares; provided, however, that if any number of the Series 1 Class A Preferred Shares issued by UFJ Bank Limited are converted to Ordinary Shares of UFJ Bank Limited on and after April 1, 2005, to and including the day
immediately preceding the date of the merger, such number shall be deducted accordingly from the number of the Preferred Shares to be issued in connection with the merger set forth above. 
  
 (3) Method of Issuance 
  
 The Preferred Shares shall be issued in connection with the merger by way of allotment to the holders of the Series 1 Class
A Preferred Shares of UFJ Bank Limited at a ratio of one (1) Preferred Share per Series 1 Class A Preferred Share of UFJ Bank Limited. 
  
 (4) Matters concerning the Preferred Shares 
  
 A. Preferred Dividends 
  

	 	(A)	 	Preferred Dividends 

  
 The Bank shall pay dividends on the Preferred Shares (hereinafter referred to as the “Preferred Dividends”) in the amount of fifteen and
nine-tenths (15.90) yen per Preferred Share per year to the holders of the Preferred Shares (hereinafter referred to as the “Preferred Shareholders”) or registered pledgees who hold pledges over Preferred Shares (hereinafter referred to as
the “Registered Preferred Pledgees”), whose names have been entered or recorded in the latest register of shareholders as of March 31 of each year, with priority over the holders of Ordinary Shares (hereinafter referred to as the
“Ordinary Shareholders”) or registered pledgees who hold pledges over Ordinary Shares (hereinafter referred to as the “Registered Ordinary Pledgees”); provided, however, that in the event that the Preferred Interim Dividends
provided for in (D) below have been paid in the relevant business year, the amount so paid shall be deducted accordingly from the amount of the Preferred Dividends indicated above. The Preferred Dividends for the period on and after the issuance
date of Preferred Shares to and including March 31, 2006 shall be fifteen and nine-tenths (15.90) yen per Preferred Share. 
  

	 	(B)	 	Non-cumulation Clause 

  
 If the aggregate amount paid to a Preferred Shareholder or Registered Preferred Pledgee as dividends in any particular business year is less than the
amount of the Preferred Dividends indicated above, the unpaid amount shall not be carried over to or cumulated in subsequent business years. 
  

	 	(C)	 	Non-participation Clause 

  
 The Bank shall not pay to any Preferred Shareholder or Registered Preferred Pledgee as dividends any amount in excess of the prescribed amount of the
Preferred Dividends indicated above. 
  

 3-1 

	 	(D)	 	Preferred Interim Dividends 

  
 In the event of payment of interim dividends (hereinafter referred to as the “Preferred Interim Dividends”), the Bank shall make a cash
distribution in the amount of seven and ninety-five hundredths (7.95) yen per Preferred Share to the Preferred Shareholders or Registered Preferred Pledgees with priority over the Ordinary Shareholders or Registered Ordinary Pledgees. 
  
 B. Distribution of Residual Assets 
  
 If the Bank distributes its residual assets upon liquidation, the Bank shall
pay to the Preferred Shareholders or Registered Preferred Pledgees with priority over the Ordinary Shareholders or Registered Ordinary Pledgees in the amount of three thousand (3,000) yen per Preferred Share. The Bank shall not make a distribution
of residual assets other than as provided for above to the Preferred Shareholders or Registered Preferred Pledgees. 
  
 C. Order of Priority 
  
 The Preferred Shares shall rank pari passu with any other class of preferred shares issued by the Bank in respect of the payment of the Preferred
Dividends and the Preferred Interim Dividends and the distribution of residual assets. 
  
 D. Cancellation 
  
 The Bank may, at any time, purchase Preferred Shares and cancel them. 
  
 E. Voting Rights 
  

Unless otherwise provided for by law or regulation, the Preferred Shareholders shall not have voting rights at any general meeting of shareholders;
provided, however, that the Preferred Shareholders shall have voting rights from (i) the commencement of an ordinary general meeting of shareholders in the event that no proposal for declaration of Preferred Dividends be paid to the Preferred
Shareholders is submitted to such ordinary general meeting of shareholders or (ii) the close of an ordinary general meeting of shareholders in the event that such proposal is rejected at such ordinary general meeting of shareholders, until, in
either case, a proposal for declaration of Preferred Dividends be paid to the Preferred Shareholders is approved at an ordinary general meeting of shareholders. 
  

F. Consolidation or Split of Preferred Shares and Subscription Rights, etc. 
  
 Unless otherwise provided for by law or regulation, the Bank shall not
consolidate or split any Preferred Shares. The Bank shall not grant the Preferred Shareholders any rights to subscribe for new shares, stock acquisition rights or bonds with stock acquisition rights. 
  
 G. Conversion into Ordinary Shares 
  
 Any Preferred Shareholder may request conversion of Preferred Shares into
Ordinary Shares during the period in which such Preferred Shareholder is entitled to request conversion as provided for in (A) below, pursuant to the terms of conversion as provided for in (B) below. The details are as follows: 
  

	 	(A)	 	Period during which Preferred Shareholders are Entitled to Request Conversion 

  

On and after the issuance date of the Preferred Shares to and including July 31, 2008 
  

	 	(B)	 	Terms of Conversion 

  

	 	a.	 	Initial Conversion Price 

  
 The initial conversion price shall be the amount obtained by dividing the conversion price of the Series 1 Class A Preferred Shares of UFJ Bank Limited
effective as of the date immediately 

  

 3-2 

 
preceding the date of the merger by 0.62 (calculated to the second decimal place denominated in yen and rounded up to the first decimal place when the
fraction beyond it is equal to or more than 0.05 yen, discarding amounts less than 0.05 yen). 
  

	 	b.	 	Reset of Conversion Price 

  
 The conversion price shall be reset on August 1, 2006 and August 1, 2007 (each, hereinafter referred to as the “Reset Date”) to the amount
obtained by multiplying the average of one-thousandth of each daily closing price (including closing bids or offered prices) of the Ordinary Shares of the Mitsubishi UFJ Financial Group, Inc. (in regular trading) as reported by the Tokyo Stock
Exchange for the thirty (30) consecutive trading days (excluding a trading day or days on which no closing price or closing bid or offered price is reported) commencing on the forty-fifth (45th) trading day prior to the relevant Reset Date by 1.025
(calculated to the second decimal place denominated in yen and rounded up to the first decimal place when the fraction beyond it is equal to or more than 0.05 yen, discarding amounts less than 0.05 yen); provided, however, that if the conversion
price so calculated is less than one thousand six hundred ninety-three point fifty (1,693.50) yen (subject to any adjustment in accordance with c. below) (hereinafter referred to as the “Conversion Floor Price”), the conversion price shall
be the Conversion Floor Price. If, during the above-described forty-five (45) trading day period, any event has occurred which would require an adjustment in accordance with c. below, the average price above shall be adjusted in a manner consistent
with c. below. 
  

	 	c.	 	Adjustment of Conversion Price 

  

	 	(a)	 	After the issuance of the Preferred Shares, the conversion price (including the Conversion Floor Price) will be adjusted in accordance with the following formula (hereinafter
referred to as the “Conversion Price Adjustment Formula”) in the event any of the items set forth below occurs; provided, however, that if the conversion price when adjusted in accordance with the Conversion Price Adjustment Formula is
less than one hundred (100) yen, the conversion price after adjustment shall be one hundred (100) yen. 

  

																			
	 Conversion price
 after
 adjustment
	  	=	  	Conversion
price before
adjustment	  	x	  	Number of
Ordinary Shares
already issued	  	+	  	 	  	Number of
Ordinary Shares to
be newly issued or
transferred	  	x  
	  	Subscription
price or
transfer price
per share
	  	  	  	  	 	  	 	  	 	  	Current market price per share
	  	  	  	  	Number of Ordinary
Shares already issued	  	 	  	+	  	Number of Ordinary
Shares to be newly issued
or
transferred

  

	 	(i)	 	In the event that the Bank issues Ordinary Shares or transfers Ordinary Shares held by the Bank at a subscription price or transfer price less than the current market price to be
used in the Conversion Price Adjustment Formula (except for any issuance or transfer by virtue of conversion of securities convertible into Ordinary Shares or the exercise of stock acquisition rights): 

  

	 	  	 	The conversion price after adjustment shall become effective as of the date immediately following the payment date or as of the date immediately following the date (if set) for the
allotment of such Ordinary Shares to shareholders. 

  

	 	(ii)	 	In the event that the Bank issues Ordinary Shares by way of a stock split: 

  

	 	  	 	The conversion price after adjustment shall become effective as of the date immediately following the date set for the allotment to shareholders of such Ordinary Shares to be issued
by way of a stock split. 

  

 3-3 

	 	  	 	However, if the Board of Directors of the Bank determines that the stock split and issuance of Ordinary Shares thereby shall be effected by a transfer of distributable profits to
stated capital and the date set for the allotment of such Ordinary Shares to shareholders falls on or prior to the date of the closing of the relevant ordinary general meeting of shareholders held to approve the transfer of distributable profits to
stated capital, the conversion price after adjustment shall become effective as of the date immediately following the date on which the ordinary general meeting of shareholders approving such transfer is concluded. 

  

	 	(iii)	 	In the event that the Bank issues securities (interests) convertible into Ordinary Shares or securities (interests) with rights to acquire Ordinary Shares, in either case, at a
price less than the current market price to be applied to the Conversion Price Adjustment Formula: 

  

	 	  	 	The conversion price after adjustment shall become effective as of the date immediately following the date of issuance of such securities (interests) or as of the date immediately
following the date (if set) for the allotment of such securities (interests) to shareholders, on the assumption that all such securities (interests) are converted or all the stock acquisition rights attached to such securities (interests) are
exercised on the date of issuance of such securities (interests) or at the close of the date set for the allotment of such securities (interests), as the case may be. 

  

	 	(b)	 	In addition to the events set forth above, if an adjustment of the conversion price (including the Conversion Floor Price) is required by virtue of any amalgamation or merger,
capital reduction, or consolidation of Ordinary Shares, etc., the conversion price shall be adjusted to such price as the Board of Directors of the Bank determines appropriate. 

  

	 	(c)	 	Furthermore, if any event corresponding to any of the events set forth in (a) or (b) above occurs with respect to Mitsubishi UFJ Financial Group, Inc., an adjustment shall be made
as the Board of Directors of the Bank determines appropriate. 

  

	 	(d)	 	The “Current market price per share” in the Conversion Price Adjustment Formula means the average of one-thousandth of each daily closing price (including closing bids or
offered prices) of Ordinary Shares of the Mitsubishi UFJ Financial Group, Inc. (in regular trading) as reported by the Tokyo Stock Exchange for the thirty (30) consecutive trading days (excluding a trading day or days on which no closing price or
closing bid or offered price is reported) commencing on the forty-fifth (45th) trading day prior to the date on which the conversion price after adjustment becomes effective (or, in the case as provided for in the proviso of c. (a) (ii) above, the
date set for the allotment of Ordinary Shares to shareholders), calculated to the second decimal place denominated in yen and rounded up to the first decimal place when the fraction beyond it is equal to or more than 0.05 yen, discarding amounts
less than 0.05 yen. 

  

	 	(e)	 	The “Conversion price before adjustment” in the Conversion Price Adjustment Formula means the conversion price in effect on the date immediately preceding the date on
which the conversion price after adjustment becomes effective, and the “Number of Ordinary Shares already issued” in the Conversion Price Adjustment Formula means the number of Ordinary Shares of the Bank issued and outstanding (excluding
the number of Ordinary Shares held by the Bank) on the date (if set) for the allotment to shareholders, or if such date is not set, on the date one (1) calendar month prior to the date on which the conversion price after adjustment is to become
effective. 

  

	 	(f)	 	 The “Subscription price per share” in the Conversion Price Adjustment Formula means (1) in the event that the Bank issues Ordinary Shares with a
subscription price less than the current market price as set forth in c. (a) (i) above, such subscription price (in the event that payment thereof is made by any consideration other than cash, the fair value of such consideration), (2) in the event
that the Bank issues Ordinary Shares by way of a stock split as set forth in c. (a) (ii) above, zero, and (3) in the event that the Bank issues securities (interests) convertible 

  

 3-4 

	 	 
into Ordinary Shares or securities (interests) with rights to acquire Ordinary Shares at a price less than the current market price as set forth in c. (a)
(iii) above, the relevant conversion or exercise price. 

  

	 	(g)	 	Calculations in accordance with the Conversion Price Adjustment Formula shall be made to the second decimal place denominated in yen and rounded up to the first decimal place when
the fraction beyond it is equal to or more than 0.05 yen, discarding amounts less than 0.05 yen. 

  

	 	(h)	 	In the event that the difference between the conversion price after adjustment calculated by the Conversion Price Adjustment Formula and the conversion price before adjustment is
less than one (1) yen, no adjustment shall be made; provided, however, that if any event occurs thereafter that would require adjustment of the conversion price, when calculating the conversion price, such difference shall be deducted from the
conversion price before adjustment in the Conversion Price Adjustment Formula. 

  

	 	d.	 	Number of Ordinary Shares to be Issued upon Conversion 

  

	 	 	 	The number of the Ordinary Shares to be issued upon conversion of the Preferred Shares shall be as follows: 

  

									
	             Number of the Ordinary
             Shares to be issued upon
             conversion
	 	=              	  	Number of the Preferred Shares
presented for conversion by
their holders	  	x	  	3,000 yen  

	 	 	 	  	Conversion price

  

	 	  	 	In the calculation of the number of the Ordinary Shares to be issued upon conversion, any number less than one (1) share shall be discarded. 

  

	 	(C)	 	Shares to be Issued upon Conversion 

  
 Ordinary Shares of the Bank of Tokyo-Mitsubishi UFJ, Ltd. 
  

	 	(D)	 	The First Dividends after Conversion 

  
 For the purpose of payment of the first dividends or interim dividends payable on the Ordinary Shares issued upon conversion of the Preferred Shares, the
conversion shall be deemed to have taken effect as of April 1, if a request for conversion or mandatory conversion is made during the period from April 1 through September 30, or as of October 1, if such request or conversion is made during the
period from October 1 through March 31 of the following year. 
  
 H. Mandatory
Conversion 
  
 Any Preferred Shares for which no request for
conversion into Ordinary Shares is made on or before July 31, 2008 shall be mandatorily converted on August 1, 2008 (hereinafter referred to as the “Mandatory Conversion Date”) into Ordinary Shares in the number as is obtained by dividing
three thousand (3,000) yen by the average of one-thousandth of each daily closing price (including closing bids or offered prices) of Ordinary Shares of the Mitsubishi UFJ Financial Group, Inc. (in regular trading) as reported by the Tokyo Stock
Exchange for the thirty (30) consecutive trading days (excluding a trading day or days on which no closing price or closing bid or offered price is reported) commencing on the forty-fifth (45th) trading day prior to the Mandatory Conversion Date;
provided, however, that such average of one-thousandth of each daily closing price shall be calculated to the second decimal place denominated in yen and rounded up to the first decimal place when the fraction beyond it is equal to or more than 0.05
yen, discarding amounts less than 0.05 yen. If the relevant average one-thousandth price is less than one thousand two hundred nine and seven-tenths (1,209.70) yen, the relevant Preferred Shares shall be converted into Ordinary Shares in the number
as is obtained by dividing three thousand (3,000) yen by one thousand two hundred nine and seven-tenths (1,209.70) yen. In the calculation of the number of Ordinary Shares provided for above, any number less than one (1) share shall be rounded up to
the nearest one (1) share. 
  

 3-5 

 (Attachment 4) 
  
 (Translation) 
  
 Terms and Conditions to Issuance of Series 1 Class 4 Preferred Shares 
  
 (1) Name of Preferred Shares 
  
 Series 1 Class 4 Preferred Shares of the Bank of Tokyo-Mitsubishi UFJ, Ltd. (hereinafter referred to as the “Preferred Shares”) 
  
 (2) Number of Shares to be Issued 
  
 The number of the Preferred Shares to be issued upon the merger shall be one
hundred fifty million (150,000,000) shares; provided, however, that if any number of the Series 1 Class D Preferred Shares issued by UFJ Bank Limited are converted to Ordinary Shares of UFJ Bank Limited on and after April 1, 2005, to and including
the day immediately preceding the date of the merger, such number shall be deducted accordingly from the number of the Preferred Shares to be issued in connection with the merger set forth above. 
  
 (3) Method of Issuance 
  
 The Preferred Shares shall be issued in connection with the merger by way of
allotment to the holders of the Series 1 Class D Preferred Shares of UFJ Bank Limited at a ratio of one (1) Preferred Share per Series 1 Class D Preferred Share of UFJ Bank Limited. 
  
 (4) Matters concerning the Preferred Shares 
  
 A. Preferred Dividends 
  

	 	(A)	 	Preferred Dividends 

  
 The Bank shall pay dividends on the Preferred Shares (hereinafter referred to as the “Preferred Dividends”) in the amount of eighteen and
six-tenths (18.60) yen per Preferred Share per year to the holders of the Preferred Shares (hereinafter referred to as the “Preferred Shareholders”) or registered pledgees who hold pledges over Preferred Shares (hereinafter referred to as
the “Registered Preferred Pledgees”), whose names have been entered or recorded in the latest register of shareholders as of March 31 of each year, with priority over the holders of Ordinary Shares (hereinafter referred to as the
“Ordinary Shareholders”) or registered pledgees who hold pledges over Ordinary Shares (hereinafter referred to as the “Registered Ordinary Pledgees”); provided, however, that in the event that the Preferred Interim Dividends
provided for in (D) below have been paid in the relevant business year, the amount so paid shall be deducted accordingly from the amount of the Preferred Dividends indicated above. The Preferred Dividends for the period on and after the issuance
date of Preferred Shares to and including March 31, 2006 shall be eighteen and six-tenths (18.60) yen per Preferred Share. 
  

	 	(B)	 	Non-cumulation Clause 

  
 If the aggregate amount paid to a Preferred Shareholder or Registered Preferred Pledgee as dividends in any particular business year is less than the
amount of the Preferred Dividends indicated above, the unpaid amount shall not be carried over to or cumulated in subsequent business years. 
  

	 	(C)	 	Non-participation Clause 

  
 The Bank shall not pay to any Preferred Shareholder or Registered Preferred Pledgee as dividends any amount in excess of the prescribed amount of the
Preferred Dividends indicated above. 
  

 4-1 

	 	(D)	 	Preferred Interim Dividends 

  
 In the event of payment of interim dividends (hereinafter referred to as the “Preferred Interim Dividends”), the Bank shall make a cash
distribution in the amount of nine and three-tenths (9.30) yen per Preferred Share to the Preferred Shareholders or Registered Preferred Pledgees with priority over the Ordinary Shareholders or Registered Ordinary Pledgees. 
  
 B. Distribution of Residual Assets 
  
 If the Bank distributes its residual assets upon liquidation, the Bank shall
pay to the Preferred Shareholders or Registered Preferred Pledgees with priority over the Ordinary Shareholders or Registered Ordinary Pledgees in the amount of two thousand (2,000) yen per Preferred Share. The Bank shall not make a distribution of
residual assets other than as provided for above to the Preferred Shareholders or Registered Preferred Pledgees. 
  
 C. Order of Priority 
  
 The Preferred Shares shall rank pari passu with any other class of preferred shares issued by the Bank in respect of the payment of the Preferred
Dividends and the Preferred Interim Dividends and the distribution of residual assets. 
  
 D. Cancellation 
  
 The Bank may, at any time, purchase Preferred Shares and cancel them. 
  
 E. Voting Rights 
  

Unless otherwise provided for by law or regulation, the Preferred Shareholders shall not have voting rights at any general meeting of shareholders;
provided, however, that the Preferred Shareholders shall have voting rights from (i) the commencement of an ordinary general meeting of shareholders in the event that no proposal for declaration of Preferred Dividends be paid to the Preferred
Shareholders is submitted to such ordinary general meeting of shareholders or (ii) the close of an ordinary general meeting of shareholders in the event that such proposal is rejected at such ordinary general meeting of shareholders, until, in
either case, a proposal for declaration of Preferred Dividends be paid to the Preferred Shareholders is approved at an ordinary general meeting of shareholders. 
  

F. Consolidation or Split of Preferred Shares and Subscription Rights, etc. 
  
 Unless otherwise provided for by law or regulation, the Bank shall not
consolidate or split any Preferred Shares. The Bank shall not grant the Preferred Shareholders any rights to subscribe for new shares, stock acquisition rights or bonds with stock acquisition rights. 
  
 G. Conversion into Ordinary Shares 
  
 Any Preferred Shareholder may request conversion of Preferred Shares into
Ordinary Shares during the period in which such Preferred Shareholder is entitled to request conversion as provided for in (A) below, pursuant to the terms of conversion as provided for in (B) below. The details are as follows: 
  

	 	(A)	 	Period during which Preferred Shareholders are Entitled to Request Conversion 

  

On and after the issuance date of the Preferred Shares to and including March 30, 2009 
  

 4-2 

	 	(B)	 	Terms of Conversion 

  

	 	a.	 	Initial Conversion Ratio 

  
 The Preferred Shares may be converted into Ordinary Shares of the Bank at the following conversion ratio per Preferred Share (hereinafter referred to as
the “Initial Conversion Ratio”): 
  

	
	Initial Conversion Ratio = 2.197

  

	 	b.	 	Reset of Conversion Ratio 

  
 The Initial Conversion Ratio shall be reset on October 5 of each year from 2005 through and including 2008 (each, hereinafter referred to as the
“Reset Date”) to such conversion ratio as calculated by the following formula (hereinafter referred to as the “Conversion Ratio After Reset”). The Conversion Ratio After Reset shall be calculated to the fourth decimal place and
rounded up to the nearest third decimal place when the fraction beyond it is equal to or more than 0.0005, discarding fractions less than 0.0005. 
  

					
	 Conversion Ratio After Reset
	  	=    	  	2,000 yen
	 	  	 	  	Current market price × 1.035

  
 However, if any
amount less than one (1) yen is produced by the calculation of the current market price multiplied by 1.035, such amount shall be rounded up to the nearest one (1) yen. If as a result of the above calculation the Conversion Ratio After Reset exceeds
2.197 (subject to any adjustment in accordance with c. below) (hereinafter referred to as the “Conversion Ceiling Ratio”), the Conversion Ratio After Reset shall be the Conversion Ceiling Ratio. The “Current market price” in the
above formula shall be the average of one-thousandth of each daily closing price (including closing bids or offered prices) of Ordinary Shares of the Mitsubishi UFJ Financial Group, Inc. (in regular trading) as reported by the Tokyo Stock Exchange
for the thirty (30) consecutive trading days (excluding trading day or days on which no closing price or closing bid or offered price is reported) commencing on the forty-fifth (45th) trading day prior to the relevant Reset Date, calculated to the
second decimal place denominated in yen and rounded up to the first decimal place when the fraction beyond it is equal to or more than 0.05 yen, discarding amounts less than 0.05 yen. 
  

	 	c.	 	Adjustment of Conversion Ratio 

  

	 	(a)	 	After the issuance of the Preferred Shares, the conversion ratio as set forth in a. and b. above will be adjusted in accordance with the following formula (hereinafter referred to
as the “Conversion Ratio Adjustment Formula”) in the event any of the items set forth below occurs; provided, however, that if the conversion ratio calculated by the Conversion Ratio Adjustment Formula exceeds forty (40), the conversion
ratio after adjustment shall be forty (40). The conversion ratio after adjustment shall be calculated to the fourth decimal place and rounded up to the nearest third decimal place when the fraction beyond it is equal to or more than 0.0005,
discarding fractions less than 0.0005. 

  

																	
	      Conversion
      ratio after
      adjustment	 	 =  
  
  
  
	  	Conversion
ratio before
adjustment	  	 x     
  
  
  
	 	Number of Ordinary
Shares already issued	  	+	  	Number of Ordinary Shares to be
newly issued or transferred
	 	  	  	 	Number of Ordinary
Shares already issued	  	+	  	Number of
Ordinary Shares
to be newly
issued or
transferred	  	x	  	Subscription
price or
transfer price
per share
	 	 	 	  	 	  	 	 	 	  	 	  	Current market price

  

	 	(i)	 	 In the event that the Bank issues Ordinary Shares or transfers Ordinary Shares held by the Bank at a subscription price or transfer price less than the current
market price to be 

  

 4-3 

	 	 
used in the Conversion Ratio Adjustment Formula (except for any issuance or transfer by virtue of conversion of securities convertible into Ordinary Shares
or the exercise of stock acquisition rights): 

  
 The conversion ratio after adjustment shall become effective as of the date immediately following the payment date or as of the date immediately following the date (if set) for the allotment of such Ordinary Shares to shareholders.

  

	 	(ii)	 	In the event that the Bank issues Ordinary Shares by way of a stock split: 

  
 The conversion ratio after adjustment shall become effective as of the date immediately following the date set for the allotment to shareholders of such
shares to be issued by way of a stock split. 
  
 However, if the
Board of Directors of the Bank determines that the stock split and issuance of Ordinary Shares thereby shall be effected by a transfer of distributable profits to stated capital and the date set for the allotment of such Ordinary Shares to
shareholders falls on or prior to the date of the closing of the relevant ordinary general meeting of shareholders held to approve the transfer of distributable profits to stated capital, the conversion ratio after adjustment shall become effective
as of the date immediately following the date on which the ordinary general meeting of shareholders approving such transfer is concluded. 
  

	 	(iii)	 	In the event that the Bank issues securities (interests) convertible into Ordinary Shares or securities (interests) with rights to acquire Ordinary Shares, in either case, at a
price less than the current market price to be applied to the Conversion Ratio Adjustment Formula: 

  
 The conversion ratio after adjustment shall become effective as of the date immediately following the date of issuance of such securities (interests) or
as of the date immediately following the date (if set) for the allotment of such securities (interests) to shareholders, on the assumption that all such securities (interests) are converted or all the stock acquisition rights attached to such
securities (interests) are exercised on the date of issuance of such securities (interests) or at the close of the date set for the allotment of such securities (interests), as the case may be. 
  

	 	(b)	 	In addition to the events set forth above, if an adjustment of the conversion ratio (including Conversion Ceiling Ratio) is required by virtue of any amalgamation or merger, capital
reduction, or consolidation of Ordinary Shares, etc., the conversion ratio shall be adjusted to such conversion ratio as the Board of Directors of the Bank determines appropriate. 

  

	 	(c)	 	Furthermore, if any event corresponding to any of the events set forth in (a) or (b) above occurs with respect to Mitsubishi UFJ Financial Group, Inc., an adjustment shall be made
as the Board of Directors of the Bank determines appropriate. 

  

	 	(d)	 	The “Current market price” in the Conversion Ratio Adjustment Formula means the average of one-thousandth of each daily closing price (including closing bids or offered
prices) of Ordinary Shares of the Mitsubishi UFJ Financial Group, Inc. (in regular trading) as reported by the Tokyo Stock Exchange for the thirty (30) consecutive trading days (excluding a trading day or days on which no closing price or closing
bid or offered price is reported) commencing on the forty-fifth (45th) trading day prior to the date on which the conversion ratio after adjustment becomes effective (or, in the case as provided for in the proviso of c. (a) (ii) above, the date set
for the allotment of Ordinary Shares to shareholders), calculated to the second decimal place denominated in yen and rounded up to the first decimal place when the fraction beyond it is equal to or more than 0.05 yen, discarding amounts less than
0.05 yen. 

  

	 	(e)	 	 The “Conversion ratio before adjustment” in the Conversion Ratio Adjustment Formula means the conversion ratio in effect on the date immediately preceding
the date on which the 

  

 4-4 

	 	 
conversion ratio after adjustment becomes effective, and the “Number of Ordinary Shares already issued” in the Conversion Ratio Adjustment Formula
means the number of Ordinary Shares of the Bank issued and outstanding (excluding the number of Ordinary Shares held by the Bank) on the date (if set) for the allotment to shareholders, or if such date is not set, on the date one (1) calendar month
prior to the date on which the conversion ratio after adjustment is to become effective. 

  

	 	d.	 	Number of Ordinary Shares to be Issued upon Conversion 

  
 The number of the Ordinary Shares to be issued upon conversion of the Preferred Shares shall be as follows: 
  

									
	 Number of the Ordinary
 Shares to be issued upon conversion
	  	  =	  	Number of the Preferred Shares presented for conversion by their holders	  	x	  	Conversion ratio

  
 In the calculation
of the number of the Ordinary Shares to be issued upon conversion, any number less than one (1) share shall be discarded. 
  

	 	(C)	 	Shares to be Issued upon Conversion 

  
 Ordinary Shares of the Bank of Tokyo-Mitsubishi UFJ, Ltd. 
  

	 	(D)	 	The First Dividends after Conversion 

  
 For the purpose of payment of the first dividends or interim dividends payable on the Ordinary Shares issued upon conversion of the Preferred Shares, the
conversion shall be deemed to have taken effect as of April 1, if a request for conversion or mandatory conversion is made during the period from April 1 through September 30, or as of October 1, if such request or conversion is made during the
period from October 1 through March 31 of the following year. 
  
 H. Mandatory Conversion 
  
 Any
Preferred Shares for which no request for conversion into Ordinary Shares is made on or before March 30, 2009 shall be mandatorily converted on March 31, 2009 (hereinafter referred to as the “Mandatory Conversion Date”) into Ordinary
Shares in the number as is obtained by dividing two thousand (2,000) yen by the average of one-thousandth of each daily closing price (including closing bids or offered prices) of Ordinary Shares of the Mitsubishi UFJ Financial Group, Inc. (in
regular trading) as reported by the Tokyo Stock Exchange for the thirty (30) consecutive trading days (excluding a trading day or days on which no closing price or closing bid or offered price is reported) commencing on the forty-fifth (45th)
trading day prior to the Mandatory Conversion Date; provided, however, that such average of one-thousandth of each daily closing price shall be calculated to the second decimal place denominated in yen and rounded up to the first decimal place when
the fraction beyond it is equal to or more than 0.05 yen, discarding amounts less than 0.05 yen. If the relevant average one-thousandth price is less than nine hundred ten and five-tenths (910.50) yen, the relevant Preferred Shares shall be
converted into Ordinary Shares in the number as is obtained by dividing two thousand (2,000) yen by nine hundred ten and five-tenths (910.50) yen. In the calculation of the number of Ordinary Shares provided for above, any number less than one (1)
share shall be rounded up to the nearest one (1) share. 
  

 4-5 

 (Attachment 5) 
  
 (Translation) 
  
 Terms and Conditions to Issuance of Series 1 Class 5 Preferred Shares 
  
 (1) Name of Preferred Shares 
  
 Series 1 Class 5 Preferred Shares of the Bank of Tokyo-Mitsubishi UFJ, Ltd. (hereinafter referred to as the “Preferred Shares”) 
  
 (2) Number of Shares to be Issued 
  
 The number of the Preferred Shares to be issued upon the merger shall be one
hundred fifty million (150,000,000) shares; provided, however, that if any number of the Series 2 Class D Preferred Shares issued by UFJ Bank Limited are converted to Ordinary Shares of UFJ Bank Limited on and after April 1, 2005, to and including
the day immediately preceding the date of merger, such number shall be deducted accordingly from the number of the Preferred Shares to be issued in connection with the merger set forth above. 
  
 (3) Method of Issuance 
  
 The Preferred Shares shall be issued in connection with the merger by way of
allotment to the holders of the Series 2 Class D Preferred Shares of UFJ Bank Limited at a ratio of one (1) Preferred Share per Series 2 Class D Preferred Share of UFJ Bank Limited. 
  

	(4)	 	Matters concerning the Preferred Shares 

  
 A. Preferred Dividends 
  

	 	(A)	 	Preferred Dividends 

  
 The Bank shall pay dividends on the Preferred Shares (hereinafter referred to as the “Preferred Dividends”) in the amount of nineteen and
four-tenths (19.40) yen per Preferred Share per year to the holders of the Preferred Shares (hereinafter referred to as the “Preferred Shareholders”) or registered pledgees who hold pledges over Preferred Shares (hereinafter referred to as
the “Registered Preferred Pledgees”), whose names have been entered or recorded in the latest register of shareholders as of March 31 of each year, with priority over the holders of Ordinary Shares (hereinafter referred to as the
“Ordinary Shareholders”) or registered pledgees who hold pledges over Ordinary Shares (hereinafter referred to as the “Registered Ordinary Pledgees”); provided, however, that in the event that the Preferred Interim Dividends
provided for in (D) below have been paid in the relevant business year, the amount so paid shall be deducted accordingly from the amount of the Preferred Dividends indicated above. The Preferred Dividends for the period on and after the issuance
date of Preferred Shares to and including March 31, 2006 shall be nineteen and four-tenths (19.40) yen per Preferred Share. 
  

	 	(B)	 	Non-cumulation Clause 

  
 If the aggregate amount paid to a Preferred Shareholder or Registered Preferred Pledgee as dividends in any particular business year is less than the
amount of the Preferred Dividends indicated above, the unpaid amount shall not be carried over to or cumulated in subsequent business years. 
  

	 	(C)	 	Non-participation Clause 

  
 The Bank shall not pay to any Preferred Shareholder or Registered Preferred Pledgee as dividends any amount in excess of the prescribed amount of the
Preferred Dividends indicated above. 
  

 5-1 

	 	(D)	 	Preferred Interim Dividends 

  
 In the event of payment of interim dividends (hereinafter referred to as the “Preferred Interim Dividends”), the Bank shall make a cash
distribution in the amount of nine and seven-tenths (9.70) yen per Preferred Share to the Preferred Shareholders or Registered Preferred Pledgees with priority over the Ordinary Shareholders or Registered Ordinary Pledgees. 
  
 B. Distribution of Residual Assets 
  
 If the Bank distributes its residual assets upon liquidation, the Bank shall
pay to the Preferred Shareholders or Registered Preferred Pledgees with priority over the Ordinary Shareholders or Registered Ordinary Pledgees in the amount of two thousand (2,000) yen per Preferred Share. The Bank shall not make a distribution of
residual assets other than as provided for above to the Preferred Shareholders or Registered Preferred Pledgees. 
  
 C. Order of Priority 
  
 The Preferred Shares shall rank pari passu with any other class of preferred shares issued by the Bank in respect of the payment of the Preferred
Dividends and the Preferred Interim Dividends and the distribution of residual assets. 
  
 D. Cancellation 
  
 The Bank may, at any time, purchase Preferred Shares and cancel them. 
  
 E. Voting Rights 
  

Unless otherwise provided for by law or regulation, the Preferred Shareholders shall not have voting rights at any general meeting of shareholders;
provided, however, that the Preferred Shareholders shall have voting rights from (i) the commencement of an ordinary general meeting of shareholders in the event that no proposal for declaration of Preferred Dividends be paid to the Preferred
Shareholders is submitted to such ordinary general meeting of shareholders or (ii) the close of an ordinary general meeting of shareholders in the event that such proposal is rejected at such ordinary general meeting of shareholders, until, in
either case, a proposal for declaration of Preferred Dividends be paid to the Preferred Shareholders is approved at an ordinary general meeting of shareholders. 
  

F. Consolidation or Split of Preferred Shares and Subscription Rights, etc. 
  
 Unless otherwise provided for by law or regulation, the Bank shall not
consolidate or split any Preferred Shares. The Bank shall not grant the Preferred Shareholders any rights to subscribe for new shares, stock acquisition rights or bonds with stock acquisition rights. 
  
 G. Conversion into Ordinary Shares 
  
 Any Preferred Shareholder may request conversion of Preferred Shares into
Ordinary Shares during the period in which such Preferred Shareholder is entitled to request conversion as provided for in (A) below, pursuant to the terms of conversion as provided for in (B) below. The details are as follows: 
  

	 	(A)	 	Period during which Preferred Shareholders are Entitled to Request Conversion 

  

On and after the issuance date of the Preferred Shares to and including March 30, 2009 
  

	 	(B)	 	Terms of Conversion 

  

	 	a.	 	Initial Conversion Ratio 

  
 The Preferred Shares may be converted into Ordinary Shares of the Bank at the following conversion ratio per Preferred Share (hereinafter referred to as
the “Initial Conversion Ratio”): 
  
 Initial Conversion
Ratio = 2.197 
  

 5-2 

	 	b.	 	Reset of Conversion Ratio 

  
 The Initial Conversion Ratio shall be reset on October 5 of each year from 2005 through and including 2008 (each, hereinafter referred to as the
“Reset Date”) to such conversion ratio as calculated by the following formula (hereinafter referred to as the “Conversion Ratio After Reset”). The Conversion Ratio After Reset shall be calculated to the fourth decimal place and
rounded up to the nearest third decimal place when the fraction beyond it is equal to or more than 0.0005, discarding fractions less than 0.0005. 
  

					
	 Conversion Ratio After Reset
	  	=    	  	2,000 yen
	 	  	 	  	Current market price × 1.035

  
 However, if any
amount less than one (1) yen is produced by the calculation of the current market price multiplied by 1.035, such amount shall be rounded up to the nearest one (1) yen. If as a result of the above calculation the Conversion Ratio After Reset exceeds
2.197 (subject to any adjustment in accordance with c. below) (hereinafter referred to as the “Conversion Ceiling Ratio”), the Conversion Ratio After Reset shall be the Conversion Ceiling Ratio. The “Current market price” in the
above formula shall be the average of one-thousandth of each daily closing price (including closing bids or offered prices) of Ordinary Shares of the Mitsubishi UFJ Financial Group, Inc. (in regular trading) as reported by the Tokyo Stock Exchange
for the thirty (30) consecutive trading days (excluding trading day or days on which no closing price or closing bid or offered price is reported) commencing on the forty-fifth (45th) trading day prior to the relevant Reset Date, calculated to the
second decimal place denominated in yen and rounded up to the first decimal place when the fraction beyond it is equal to or more than 0.05 yen, discarding amounts less than 0.05 yen. 
  

	 	c.	 	Adjustment of Conversion Ratio 

  

	 	(a)	 	After the issuance of the Preferred Shares, the conversion ratio as set forth in a. and b. above will be adjusted in accordance with the following formula (hereinafter referred to
as the “Conversion Ratio Adjustment Formula”) in the event any of the items set forth below occurs; provided, however, that if the conversion ratio calculated by the Conversion Ratio Adjustment Formula exceeds forty (40), the conversion
ratio after adjustment shall be forty (40). The conversion ratio after adjustment shall be calculated to the fourth decimal place and rounded up to the nearest third decimal place when the fraction beyond it is equal to or more than 0.0005,
discarding fractions less than 0.0005. 

  

																	
	       Conversion
       ratio after
       adjustment
	 	 =    
  
  
  
	  	Conversion
ratio before
adjustment	  	 x   
  
  
  
	 	Number of Ordinary
Shares already issued	  	+	  	 Number of Ordinary Shares to be
 newly issued or transferred

	 	  	  	 	Number of
Ordinary Shares
already issued	  	+	  	Number of
Ordinary Shares
to be newly
issued or
transferred	  	x	  	Subscription
price or
transfer price
per share
	 	 	 	  	 	  	 	 	 	  	 	  	Current market price

  

	 	(i)	 	In the event that the Bank issues Ordinary Shares or transfers Ordinary Shares held by the Bank at a subscription price or transfer price less than the current market price to be
used in the Conversion Ratio Adjustment Formula (except for any issuance or transfer by virtue of conversion of securities convertible into Ordinary Shares or the exercise of stock acquisition rights): 

  
 The conversion ratio after adjustment shall become effective as of the date
immediately following the payment date or as of the date immediately following the date (if set) for the allotment of such Ordinary Shares to shareholders. 
  

 5-3 

	 	(ii)	 	In the event that the Bank issues Ordinary Shares by way of a stock split: 

  
 The conversion ratio after adjustment shall become effective as of the date immediately following the date set for the allotment to shareholders of such
shares to be issued by way of a stock split. 
  
 However, if the
Board of Directors of the Bank determines that the stock split and issuance of Ordinary Shares thereby shall be effected by a transfer of distributable profits to stated capital and the date set for the allotment of such Ordinary Shares to
shareholders falls on or prior to the date of the closing of the relevant ordinary general meeting of shareholders held to approve the transfer of distributable profits to stated capital, the conversion ratio after adjustment shall become effective
as of the date immediately following the date on which the ordinary general meeting of shareholders approving such transfer is concluded. 
  

	 	(iii)	 	In the event that the Bank issues securities (interests) convertible into Ordinary Shares or securities (interests) with rights to acquire Ordinary Shares, in either case, at a
price less than the current market price to be applied to the Conversion Ratio Adjustment Formula: 

  
 The conversion ratio after adjustment shall become effective as of the date immediately following the date of issuance of such securities (interests) or
as of the date immediately following the date (if set) for the allotment of such securities (interests) to shareholders, on the assumption that all such securities (interests) are converted or all the stock acquisition rights attached to such
securities (interests) are exercised on the date of issuance of such securities (interests) or at the close of the date set for the allotment of such securities (interests), as the case may be. 
  

	 	(b)	 	In addition to the events set forth above, if an adjustment of the conversion ratio (including Conversion Ceiling Ratio) is required by virtue of any amalgamation or merger, capital
reduction, or consolidation of Ordinary Shares, etc., the conversion ratio shall be adjusted to such conversion ratio as the Board of Directors of the Bank determines appropriate. 

  

	 	(c)	 	Furthermore, if any event corresponding to any of the events set forth in (a) or (b) above occurs with respect to Mitsubishi UFJ Financial Group, Inc., an adjustment shall be made
as the Board of Directors of the Bank determines appropriate. 

  

	 	(d)	 	The “Current market price” in the Conversion Ratio Adjustment Formula means the average of one-thousandth of each daily closing price (including closing bids or offered
prices) of Ordinary Shares of the Mitsubishi UFJ Financial Group, Inc. (in regular trading) as reported by the Tokyo Stock Exchange for the thirty (30) consecutive trading days (excluding a trading day or days on which no closing price or closing
bid or offered price is reported) commencing on the forty-fifth (45th) trading day prior to the date on which the conversion ratio after adjustment becomes effective (or, in the case as provided for in the proviso of c. (a) (ii) above, the date set
for the allotment of Ordinary Shares to shareholders), calculated to the second decimal place denominated in yen and rounded up to the first decimal place when the fraction beyond it is equal to or more than 0.05 yen, discarding amounts less than
0.05 yen. 

  

	 	(e)	 	The “Conversion ratio before adjustment” in the Conversion Ratio Adjustment Formula means the conversion ratio in effect on the date immediately preceding the date on
which the conversion ratio after adjustment becomes effective, and the “Number of Ordinary Shares already issued” in the Conversion Ratio Adjustment Formula means the number of Ordinary Shares of the Bank issued and outstanding (excluding
the number of Ordinary Shares held by the Bank) on the date (if set) for the allotment to shareholders, or if such date is not set, on the date one (1) calendar month prior to the date on which the conversion ratio after adjustment is to become
effective. 

  

 5-4 

	 	d.	 	Number of Ordinary Shares to be Issued upon Conversion 

  
 The number of the Ordinary Shares to be issued upon conversion of the Preferred Shares shall be as follows: 
  

									
	 Number of the Ordinary
 Shares to be issued upon
 conversion
	  	=	  	 Number of the Preferred Shares
 presented for conversion by their
 holders
	  	      x	 	 Conversion    
 ratio    

  
 In the calculation of
the number of the Ordinary Shares to be issued upon conversion, any number less than one (1) share shall be discarded. 
  

	 	(C)	 	Shares to be Issued upon Conversion 

  
 Ordinary Shares of the Bank of Tokyo-Mitsubishi UFJ, Ltd. 
  

	 	(D)	 	The First Dividends after Conversion 

  
 For the purpose of payment of the first dividends or interim dividends payable on the Ordinary Shares issued upon conversion of the Preferred Shares, the
conversion shall be deemed to have taken effect as of April 1, if a request for conversion or mandatory conversion is made during the period from April 1 through September 30, or as of October 1, if such request or conversion is made during the
period from October 1 through March 31 of the following year. 
  
 H. Mandatory Conversion 
  
 Any
Preferred Shares for which no request for conversion into Ordinary Shares is made on or before March 30, 2009 shall be mandatorily converted on March 31, 2009 (hereinafter referred to as the “Mandatory Conversion Date”) into Ordinary
Shares in the number as is obtained by dividing two thousand (2,000) yen by the average of one-thousandth of each daily closing price (including closing bids or offered prices) of Ordinary Shares of the Mitsubishi UFJ Financial Group, Inc. (in
regular trading) as reported by the Tokyo Stock Exchange for the thirty (30) consecutive trading days (excluding a trading day or days on which no closing price or closing bid or offered price is reported) commencing on the forty-fifth (45th)
trading day prior to the Mandatory Conversion Date; provided, however, that such average of one-thousandth of each daily closing price shall be calculated to the second decimal place denominated in yen and rounded up to the first decimal place when
the fraction beyond it is equal to or more than 0.05 yen, discarding amounts less than 0.05 yen. If the relevant average one-thousandth price is less than nine hundred ten and five-tenths (910.50) yen, the relevant Preferred Shares shall be
converted into Ordinary Shares in the number as is obtained by dividing two thousand (2,000) yen by nine hundred ten and five-tenths (910.50) yen. In the calculation of the number of Ordinary Shares provided for above, any number less than one (1)
share shall be rounded up to the nearest one (1) share. 
  

 5-5 

 AMENDMENT TO THE MERGER AGREEMENT 
 (English Summary) 
  

			
	Merger Date:	  	The scheduled merger date will be changed to January 1, 2006.
		
	Dividend Payments:	  	 In addition to the year-end dividends, BTM may pay its shareholders as of September 30, 2005 interim dividends of up to the following maximum
amounts:
  
 127 yen per Ordinary Share
 30 yen per Class 2 Preferred Share
 Total: 640,472,632,342 yen

		
	Amendment to Articles of Incorporation of the Merged Bank and Terms of Preferred Shares of BTM:	  	The terms of BTM’s Series 1 Class 3, Series 1 Class 4 and Series 1 Class 5 preferred shares will be amended to reflect the change of the scheduled merger date and the passage of time
between the Merger Agreement and the Amendment to the Merger Agreement. The Articles of Incorporation of the merged bank shall be amended to reflect such adjustments in the terms of the preferred shares.
		
	Date of shareholders meetings to approve Amendment to Merger Agreement:	  	 BTM: August 30, 2005
 UFJ: August 30,
2005

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