May 13, 2008 [U.S. GAAP] Financial Results Release For the Year Ended March 31, 2008 Name of registrant: Nippon Telegraph and Telephone Corporation Code No.: 9432 Stock exchanges on which the Company's shares are listed: Tokyo, Osaka, Nagoya, Fukuoka and Sapporo (URL http://www.ntt.co.jp/ir/) Representative: Satoshi Miura, President Contact: Koji Ito, Head of IR, Finance and Accounting Department/ TEL(03)5205-5581 Scheduled date of the ordinary general meeting of shareholders: June 25, 2008 Scheduled date of dividend payments: June 26, 2008 Scheduled date of filing securities report: June 30, 2008 1.  Consolidated Financial Results for the Year Ended March 31, 2008 (April 1, 2007 - March 31, 2008) Amounts are rounded off to nearest million yen throughout this report. (1)  Consolidated Results of Operations (2)  Consolidated Financial Position (3)  Consolidated Cash Flows 2.  Dividends 3.  Consolidated Financial Results Forecasts for the Year Ending March 31, 2009 (April 1, 2008 - March 31, 2009) 4.  Other (1) Change in reporting entities (change in significant consolidated subsidiaries): No (2) Change in significant accounting policy and reclassification 1. Change caused by revision of accounting standard: No 2. Others: No (3) Number of shares outstanding (common stock) 1. Number of shares outstanding (including treasury stock) at end of year:   March 31, 2008: 15,741,209 shares March 31, 2007:   15,741,209 shares 2. Number of treasury stock at end of year:   March 31, 2008: 2,102,471 shares March 31, 2007:   1,921,540 shares 3. Weighted average number of shares outstanding:   For the year ended March 31, 2008: 13,775,614 shares For the year ended March 31, 2007:   13,820,769 shares (Reference) Non-Consolidated Financial Results For the Year Ended March 31, 2008 [Japanese GAAP] 1.  Non-consolidated Financial Results for the Year Ended March 31, 2008 (April 1, 2007 - March 31, 2008) Amounts are rounded off per 1 million yen throughout this report. (1)  Non-consolidated Results of Operations (2)  Non-consolidated Financial Position 2.  Non-consolidated Financial Results Forecasts for the Year Ending March 31, 2009 (April 1, 2008 - March 31, 2009) Notes: 1. With regard to the assumptions and other related matters concerning the above estimated results, please refer to this (3. Business Operation Policy : Note). As NTT evaluates the business performance on an annual basis, prospects on a half-year basis are not provided.   2. The amounts in the year ended March 31, 2007 have been changed from those previously released. See "2. Principal Accounting Policy, etc. (8) Retrospective application of equity method for an investee" of additional stock in the foot note ("Significant Matters Pertaining to the Preparation of Consolidated Financial Statements"). (Reference) Forecasts of Business Results and Dividends Reflecting Stock Split As announced on May 13, 2008, with implementation of the "Law for partial amendments to the Law concerning Book-Entry Transfer of Corporate Bonds and Other Securities for the Purpose of Streamlining the Settlement of Trades of Stocks and Other Securities (Law No. 88 of 2004)" ("Settlement Streamlining Law"), share certificates of listed companies are to take electronic form. With the introduction of the electronic share certificate system, fractional shares will need to be eliminated. In conjunction with this process, in order to ensure that the transition away from the fractional share system will be smooth, on the day immediately preceding the day on which the electronic share certificate system will be introduced, one share of common stock will be split into 100 shares, and the number of shares constituting one unit will be set at 100. If such share split is assumed to have taken place at the beginning of the year ending March 31, 2009, forecasts for financial results and dividends for such period would be as follows. 1.  Financial Results Forecasts for the Year Ending March 31, 2009 (April 1, 2008 - March 31, 2009) 2.  Dividends Forecasts for the Year Ending March 31, 2009 Copyright (c) 2008 Nippon telegraph and telephone corporation