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Notice Regarding Purchase of Tokyu Corporation's portion of the
"Nihonbashi 1-chome Building"

February 27, 2004
Mitsui Fudosan Co., Ltd.

Mitsui Fudosan Co., Ltd. has concluded an agreement with Tokyu Corporation to purchase its portion of the state-of-the-art "Nihonbashi 1-chome Building" jointly developed by Mitsui Fudosan, Tokyu Corporation and Tokyu Land Corporation on the former grounds of the Nihonbashi branch of the Tokyu Department Store.

An office and commercial complex, construction of the building was completed at the end of January 2004. The commercial facilities within the building, "COREDO Nihonbashi," opened on March 30, 2004, features 33 tenants offering apparel, foodstuffs, household and leisure items for all aspects of life.

Mitsui Fudosan's office building strategy is focused on four main areas: Nihonbashi, Hibiya, Kasumigaseki/Toranomon and Shinjuku. We promote business in the Nihonbashi area, the birthplace of the Mitsui Group, through developments such as the (provisionally named) Muromachi Mitsui Shinkan Project and Tokyo Yaesu Development Project. Working in unison with local businesses and retail stores, both private and government sectors are making a joint effort to revitalize the local economy in the Nihonbashi area. We continue to contribute to the revitalization in this area through our operation of Nihonbashi 1-chome Building.

<Attachment 1 > Property Overview

Property name Nihonbashi 1-chome Building
Address (A-Block) 4-1 Nihonbashi 1-chome, Chuo-ku, Tokyo
(B-Block) 6-1 Nihonbashi 1-chome
Site area 8,185.23 m2 (A-Block 5,611.21 m2, B-Block 2,574.02 m2)
Floor area 98,063.74 m2 (Includes parking approx. 10,900 m2)
Main facilities Offices, retail stores, parking lot
Structure Steel frame, steel-reinforced concrete, reinforced concrete
Floors A-Block building: 20 above ground, 4 below
plus one-story penthouse
B-Block building: 2 above ground, 2 below ground
Height Approx. 120m (Maximum height)
Parking Approx. 250 cars
Architects Kohn Pedersen Fox Associates PC,
Nihon Sekkei / Tokyu Architects & Engineers Design JV
Shimizu/Sumitomo Mitsui / Tokyu Construction JV


Facility name COREDO Nihonbashi
Area A-Block building B1-4F
B-Block building 1F-2F
(Area for commercial facility approx. 10,000 m2)
Tenants 33

<Attachment 2> Purchase Agreement Overview

Subject property Tokyu Corporation's stake and title of Nihonbashi 1-chome building (30%)
Purchase price 4,738 million yen
Contract date February 27, 2004
Transfer February 27, 2004

<Attachment 3 > Location Map

<Attachment 4> Exterior Photo