FOR INFORMATION
May 26, 1999

NTT Announces Conclusion of
Business Transfer Agreements Regarding its Reorganization


Nippon Telegraph and Telephone Corporation (NTT) at a meeting of its board of directors today decided to transfer its business activities to three newly-formed organizations and will conclude business transfer agreements on May 28, 1999.

The agreements are designed to realize NTT's corporate reorganization based on the law to amend the part of Nippon Telegraph and Telephone Corporation Law (Law No. 98 of 1997).

After the agreements, the transfer of NTT's business activities will be discussed at its fourteenth Ordinary General, Meeting of Shareholders on June 29, 1999 and the transfer will be implemented on July 1, 1999.

Specifically, NTT's business activities will be transferred to the following wholly owned companies: NIPPON TELEGRAPH AND TELEPHONE EAST CORPORATION, NIPPON TELEGRAPH AND TELEPHONE WEST CORPORATION and NTT Communications Corporation. Details of the three companies are as follows:


NIPPON TELEGRAPH AND TELEPHONE EAST CORPORATION:

Operations: NTT-East Provisional Headquarters' intra-prefectural communications and related services each in Hokkaido, Tohoku, Kanto, Tokyo and Shinetsu regions
Establishment: July 1, 1999 (scheduled)
Address: 19-2, Nishi-Shinjuku 3 chome, Shinjuku-ku, Tokyo (scheduled)



NIPPON TELEGRAPH AND TELEPHONE WEST CORPORATION:

Operations: NTT-West Provisional Headquarters' intra-prefectural communications and related services each in Tokai, Hokuriku, Kansai, Chugoku, Shikoku and Kyushu regions
Establishment: July 1, 1999 (scheduled)
Address: 3-15, Banba-cho, Chuo-ku, Osaka-shi, Osaka (scheduled)



NTT Communications Corporation:

Operations: NTT-Long Distance and International Provisional Headquarters' inter-prefectural communications, multimedia network and related services
Establishment: May 28, 1999 (scheduled)
Address: 1-6, Uchisaiwai-cho 1 chome, Chiyoda-ku, Tokyo (scheduled)




For further information, please contact:

Tomoyoshi Kosugi or Kenya Nakatsuka
NTT Public Relations
Telephone:(03) 3509-3101




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