Notice regarding Repurchase and Cancellation of Public Fund Preferred Stocks(1/1)

Sumitomo Mitsui Financial Group, Inc.

Notice regarding Repurchase and Cancellation of Public Fund Preferred Stocks

Tokyo, May 12, 2006 --- Sumitomo Mitsui Financial Group, Inc. (SMFG, President: Teisuke Kitayama) hereby announces that SMFG’s Board of Directors resolved at a meeting today to repurchase and cancel its Type 1 preferred stock and part of its Type 2 preferred stock (aggregate amount of repurchase: approximately JPY 275.9 billion) owned by the Resolution and Collection Corporation (RCC) as described below, and obtained an approval of the relevant authorities for the repurchase today.

The repurchase of the preferred stocks is to be executed within SMFG’s own stock repurchase limit approved at its annual general shareholders’ meeting held in June 2005.

In addition, SMFG intends to cancel those shares of the preferred stocks upon repurchase.

PARTICULARS

Details of Repurchase and Cancellation

1.Type 1 Preferred Stock

(1) Number of Shares to Be Repurchased	: 35,000 shares
(2) Repurchase Price	: JPY 4,056,000 per share
(3) Total Amount of Repurchase	: JPY 141,960,000,000
(4) Repurchase from	: RCC
(5) Repurchase Date (Scheduled)	: May 17, 2006

title	description
title	¥50,000,000,000
title	description
title	¥826,900
title	60,466 stock

1.Type 2 Preferred Stock

(1) Number of Shares to Be Repurchased	: 33,000 shares
(2) Repurchase Price	: JPY 4,059,300 per share
(3) Total Amount of Repurchase	: JPY 133,956,900,000
(4) Repurchase from	: RCC
(5) Repurchase Date (Scheduled)	: May 17, 2006

（REFERENCE）

Summary of the public fund preferred stocks to be repurchased:

Type of Preferred Stock	Type 1 Preferred Stock	Type 2 Preferred Stock
Original Date of Issue	March 31, 1999	March 31, 1999
Number of Shares Issued	67,000 shares	100,000 shares
Issue Price	JPY 3,000,000 per share	JPY 3,000,000 per share
Aggregate Amount Issued	JPY 201 billion	JPY 300 billion
Number of Shares Outstanding Immediately Prior to This Repurchase	35,000 shares	100,000 shares
Aggregate Amount Outstanding Immediately Prior to This Repurchase	JPY 105 billion	JPY 300 billion

Summary of the public fund preferred stock other than the above:

Type of Preferred Stock	Type 3 Preferred Stock
Original Date of Issue	March 31, 1999
Number of Shares Issued	800,000 shares
Issue Price	JPY 1,000,000 per share
Aggregate Amount Issued	JPY 800 billion
Number of Shares Outstanding as of the Date hereof	695,000 shares
Aggregate Amount Outstanding as of the Date hereof	JPY 695 billion