Bank of Tokyo-Mitsubishi, Ashikaga Bank, Hyakujushi Bank, Juroku Bank, Joyo Bank and IBM Japan to develop and operate shared regional banking system

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Tokyo, Japan - 24 Apr 2003: The Bank of Tokyo-Mitsubishi, Ltd. (BTM), The Ashikaga Bank, Ltd., The Hyakujushi Bank, Ltd., The Juroku Bank, Ltd, The Joyo Bank, Ltd. and IBM Japan, Ltd. (IBM Japan) today announced they will develop and operate a common regional banking IT system in Japan.

The shared mission critical system that will be developed will reduce costs, improve productivity and enhance the ability of the participating banks to improve their present customer services while introducing new ones. The system will be designed and built so that it can be updated easily to meet the evolving operational, institutional and technological requirements of Japan's banking industry.

"A shared regional bank system infrastructure and outsourcing are effective methods for banks to ensure and maintain flexibility in business management while improving their economical efficiency and effectively capturing new business opportunities in the on demand era," said Masayuki Tanaka Managing Director of The Bank of Tokyo-Mitsubishi, Ltd. "The participating banks will be able to focus on building closer ties with customers, enhancing their present customer services and creating unique offerings to further strengthen their competitiveness."

To maximize the benefits of the common IT system, other banks within Japan will be invited to join the project.

The shared regional bank system will be based on application programs of the existing BTM mission-critical system, with some modifications to meet both common and individual needs of all participating banks. IT infrastructure of the shared regional bank system, such as computer hardware and networking, will be integrated and shared through a common computing center. The participating banks also will be able to develop their own unique applications to maintain competitiveness, and as they become ready, migrate them to the shared regional bank system.

The participating banks will outsource the shared regional bank system development and operation to IBM Japan.

For effective management of the project, BTM, the participating banks and IBM Japan will jointly establish a company by the end of this year that will be responsible for the shared regional bank system development and operation.

Development of the shared system will begin this month and migration of the participating banks is planned to occur in 2007.

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