Tokyo Stock Exchange: Interim Business Plan (For Fiscal Year Of 2003 To 2005)

The Tokyo Stock Exchange ("TSE") has prepared this Interim Business Plan for the next 3 years beginning April 2003.

In November 2001, TSE demutualized and became a stock company. In February 2002, TSE published its Interim Business Plan for the Fiscal Year ("FY") of 2002 to FY 2004, which was the first business plan presenting the concrete management objectives and action programs of TSE and its groups. TSE will revise the business plan every year reflecting environmental changes etc., and this is the plan for FY 2003 to FY 2005.