Revision of ブックメーカーサッカー Earnings Forecasts for the Fiscal Year ended March 31, 2006(1/1)

Sumitomo Mitsui Financial Group, Inc.

Revision of ブックメーカーサッカー Earnings Forecasts for the Fiscal Year ended March 31, 2006

TOKYO, April 28, 2006 --- Sumitomo Mitsui Financial Group, Inc. (SMFG) today announced a revision of its ブックメーカーサッカー earnings forecasts for the fiscal year ended March 31, 2006.

SMFG hereby revises the earnings forecasts for the fiscal year ended March 31, 2006 as follows mainly due to an increase in banking profit (before provision for general reserve for possible loan losses) and a decrease in total credit cost of Sumitomo Mitsui Banking Corporation (SMBC), a ブックメーカーサッカー subsidiary of SMFG.

SMFG’s non-ブックメーカーサッカー earnings and dividends forecasts remain unchanged.

Revision of ブックメーカーサッカー earnings forecasts for the fiscal year ended March 31, 2006

			(Billions of yen)
	Ordinary income	Ordinary profit	Net income
Previous ブックメーカーサッカー (*)(A)	3,500	850	550
Revised ブックメーカーサッカー(B)	3,680	970	690
Change(B − A)	+ 180	+ 120	+ 140
Percentage change(%)	+ 5.1	+ 14.1	+ 25.5

(*) Announced in November 2005

Appendix

I. SMBC’s earnings forecasts for the fiscal year ended March 31, 2006 (Non-ブックメーカーサッカー)

(Billions of yen)

	Revised ブックメーカーサッカー (a)	Previous ブックメーカーサッカー (b)	Change (a) − (b)
Banking profit (before provision for general reserve for possible loan losses)	970	720	520
Ordinary profit	950	660	430
Net income	+ 20	+ 60	+ 90

Total credit cost		(230)	(300)	+ 70
	Gains on collection of written-off claims (Extraordinary gains)	30	−	+ 30

(Points)

1. Banking profit (before provision for general reserve for possible loan losses)

SMBC expects banking profit (before provision for general reserve for possible loan losses) to be 970 billion yen, an increase of 20 billion yen compared with the previous ブックメーカーサッカー. This is mainly due to an increase in fees and commissions from sales of investment trusts.

2. Total credit cost

Total credit cost is expected to be 230 billion yen, a decrease of 70 billion yen compared with the previous ブックメーカーサッカー. This is mainly due to gains on reversal of off-balancing related costs in the process of work-out of non-performing loans. Approximately 30 billion yen of gains on collection of the claims written-off in past fiscal years are expected to be recorded as extraordinary gains.

II. Estimate of problem assets based on the Financial Reconstruction Law (SMBC, Non-ブックメーカーサッカー)

(Billions of yen)

		March 31, 2006 (Estimate) (a)	March 31, 2005 (Result) (b)	Change (a) − (b)
Problem assets based on the Financial Reconstruction Law		960.0	1,824.6	(864.6)
	Problem asset ratio	1.7 %	3.3%	(1.6) %

III. Estimate of net unrealized gains (losses) on other securities (SMBC, Non-ブックメーカーサッカー)

(Billions of yen)

		March 31, 2006 (Estimate) (a)	March 31, 2005 (Result) (b)	Change (a) − (b)
Problem assets based on the Financial Reconstruction Law		1,310.0	651.6	+ 658.4
	Stocks Bonds Others	1,630.0 (280.0) (40.0)	667.3 7.7 (23.4)	+ 962.7 (287.7) (16.6)

VI. Estimate of capital ratio (SMFG, ブックメーカーサッカー)

	March 31, 2006 (Estimate)	March 31, 2005(Result)
ブックメーカーサッカー capital ratio	More than 12 %	9.94 %