March 1, 2007 Nippon Telegraph and Telephone Corporation (NTT) Summary of Business Operation Plan for Fiscal Year Ending March 31, 2008 1.  Basic Philosophy of Business Operation Plan for Fiscal Year Ending March 31, 2008 - Through implementing the "NTT Group's Medium-Term Management Strategy," NTT will build ubiquitous broadband networks that provide customers with not only "fast and convenient" but also "safe and secure" connections "anytime, anywhere and with anyone or anything," helping to enrich communication environments for individuals and communities, making corporate activities more efficient, and creating new business opportunities. - In the fiscal year ending March 31, 2008, based on the above policy, NTT will, among other things, strengthen R&D activities for the commercialization of the next-generation network which serves as the foundation of NTT's efforts achieve "NTT Group 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. NTT will support the efforts of each of the NTT Group companies to streamline their business operations and expand their business opportunities (2)  Promotion of Basic Research and Development In order to establish a next-generation network infrastructure to realize a network environment for ubiquitous broadband services that can offer customers not only "fast and convenient," but also "safe and secure" connections "anytime, anywhere and with anyone or anything," to achieve a seamless migration from fixed line to IP telephone services and from metal wire systems to optical fiber, 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 demands for the development of an advanced information and telecommunications network society. 2.  Capital Investment Plan for Fiscal Year Ending March 31, 2008 * Change from the previous forecasts announced on November 10, 2006 3.  Revenues and Expenses Plan for Fiscal Year Ending March 31, 2008 (Attachment) * Change from the previous forecasts announced on November 10, 2006 4.  Sources and Applications of Funds Plan for Fiscal Year Ending March 31, 2008 (Attachment) Copyright (c) 2007 Nippon telegraph and telephone corporation