This English text is a tentative translation of the Japanese original. The Japanese original is authoritative.
October 29, 2002

Report on the Status of the "Voluntary action plan"

Today Nippon Telegraph and Telephone Corporation (NTT) made a report to the Ministry of Public Management, Home Affairs, Post and Telecommunications of the current status of implementation of "NTT's Strategy concerning Current Management Issues" ("Voluntary action plan") released in October 2001. The following is an outline of the report.

1. Regarding the promotion of structural reform

As announced in "Structural Reform of NTT East and West" (November 22, 2001), NTT is steadily progressing with the implementation of business reform policies, including the reassignment in May 2002 of roughly 100,000 employees.

2. Opening the local networks

In addition to the measures outlined in last year's "Voluntary action plan," in response to requests from other carriers we are implementing even more expanded information disclosure and subdivision of the item for the interconnection with the local network.

3. NTT Group Business Related Matters
(1) Equity position
Regarding the issue of equity position, we will continue to monitor the situation with a view to maximizing profits for our shareholders.
Further, regarding the shares of NTT DoCoMo, Inc. (NTT DoCoMo), in July 2002, in response to NTT DoCoMo's planned share reacquisition, 551,000 stocks were sold.

(2) Executive Member Concurrency
Regarding the concurrent appointment of directors for NTT (holding company), NTT Communications Corporation (NTT Com) and NTT DoCoMo, it was decided to annul this at the general meeting for shareholders in June 2001.

4. Making inroads in the broadband market

The companies in the NTT Group are making an all-out effort to implement measures to make inroads in new service fields relating mainly to broadband.

For inquiries, please contact:
Mr. Shiozuka or Mr. Tsujigami, Corporate Strategy, Department I, NTT
Tel: 03-5205-5131

News Release Mark