News Release 040805a

Nippon Telegraph and Telephone Corporation
August 5, 2004

Consolidated Financial Results for the First Quarter ended June 30, 2004
April 1, 2004 - June 30, 2004

[Consolidated Results of Operations]

Notes:

1.NTT's consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (U.S. GAAP).
2.Year-on-year increase (decrease) and percentage changes of operating revenues is (18.5) billion yen and (0.7%), respectively.
3.Number of consolidated subisidiaries as of June 30, 2004 is 346.

[Operating Performance of NTT and Its Major Subsidiaries]

Notes:	*	NTT East's "Operating Revenues" include 4.3 billion yen in an expected settlement of interconnection charges based on the LRIC methodology, which is not included in the corresponding previous quarter.
	**	NTT West's "Operating Revenues" include 3.7 billion yen in an expected settlement of interconnection charges based on the LRIC methodology, which is not included in the corresponding previous quarter and 4.4 billion yen in a subsidy from NTT East to NTT West.
	***	NTT DoCoMo's "Recurring Profit" represents its "Income before Income Taxes."

[Consolidated Financial Results Forecasts for the Year Ending March 31, 2005]

Note:

Forecasts for the fiscal year ending March 31, 2005 have never been changed from those announced on May 14, 2004.

(Reference)

Number of Subscribers of Major Services

Notes:	1.	"Number of Telephone Subscriber Lines" is the total of individual lines and central station lines.
	2.	In terms of number of channels, transmission rate, and line use rate (base rate), INS-Net 1500 is in all cases roughly ten times greater than INS-Net 64. For this reason, one INS-Net 1500 subscription is calculated as ten INS-Net 64 subscriptions.
	*	Partial listing only.

The forward-looking statements and projected figures on the future performance of NTT contained in this financial report are based on the judgments, evaluations, recognition of facts, and formulation of plans by the current management of NTT based on the information at their disposal. The projected figures in this report were derived using certain assumptions that are indispensable for making projections in addition to historical facts that have been ascertained and acknowledged accurately. In view of the element of uncertainty inherent in future projections, the possibility of fluctuations in its future business operations, the state of the economy in Japan and abroad, stock markets, and other circumstances, NTT's actual results could differ materially from the projected figures contained in this report.