February 14, 2003

To whom it may concern:

NIPPONKOA Insurance Co., Ltd.
President: Ken Matsuzawa

We are pleased to announce an overview of our business on non-consolidated basis for the first nine months of FY2002 (from April 1, 2002 to December 31, 2002) as follows:

1. Overview

Net premiums written for the first nine months of FY2002 were up 6.1% compared to the same period last year. This was mainly due to the following factors, in addition to the revenue increase caused by the abolishment of the government reinsurance scheme for compulsory automobile liability insurance (CALI): Increased revenues from long-term fire policies sold over the bank counters, and from personal accident insurance led by favorable sales of medical insurance policies.

On the other hand, net losses paid were down 2.9 period last year, due to the decrease in losses in voluntary automobile insurance, and the stable trend in natural disaster losses, etc.

2. Net Premiums Written

Notes:
1. The above figures are based on those booked in the interim period and unaudited.
2. Figures for the first nine months of FY2001 (from April 1, 2001 to December 31, 2001), over which the rate of increase is calculated, are the combined total of those of NIPPONKOA Insurance Co., Ltd. and Taiyo Fire & Marine Insurance Co., Ltd.

Notes:
1.The above figures are based on those booked in the interim period and unaudited.
2.Figures for the first nine months of FY2001 (from April 1, 2001 to December 31, 2001), over which the rate of change is calculated, are the combined total of those of NIPPONKOA Insurance Co., Ltd. and Taiyo Fire & Marine Insurance Co., Ltd.
3.Net losses paid for the first nine months of FY2002 and the rate of change would be 269,364 million yen and -2.9% respectively, if the impact of the abolishment of the government reinsurance scheme for CALI were excluded.