Summary of Business Operation Plan for Fiscal Year Ending March 31, 2006 1.  Basic Philosophy of Business Operation Plan for Fiscal Year Ending March 31, 2006 - NTT intends to foster active Group management for the sound development of the entire Group based on the NTT Group's Medium-Term Management Strategy. (1) Advice, Mediation, etc. a. For the regional companies, NTT will provide all necessary advice, mediation, etc. to ensure the maintenance of high-quality and stable universal services. b. For all NTT Group companies, NTT will offer management support for such operations as business expansion, use the combined strengths of NTT to actively build the ubiquitous broadband market to help achieve the e-Japan Strategy and the u-Japan Initiative, and strive to increase corporate value and achieve sustained growth. (2) Promotion of Basic Research and Development To build a safe, secure, and convenient communications network environment and broadband access infrastructure, while achieving a seamless migration from fixed line to IP telephone services and from metal wire systems to optical fiber as defined as one of the management objectives of the NTT Group's Medium-Term Management Strategy, NTT will actively promote research and development in the sphere of infrastructure- and user-related basic technologies, as well as advanced and basic technologies in order to respond to society's requirements for the development of an advanced information and telecommunications network society. 2.  Capital Investment Plan for Fiscal Year Ending March 31, 2006 * Change from the previous forecasts annouced November 10, 2004 3.  Revenues and Expenses Plan for Fiscal Year Ending March 31, 2006 (Attachment) * Change from the previous forecasts annouced November 10, 2004 4.  Sources and Applications of Funds Plan for Fiscal Year Ending March 31, 2006 (Attachment) Copyright (c) 2005 Nippon telegraph and telephone corporation