The Bank of Tokyo-Mitsubishi, Ltd. Global Securities Services Division

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1 The Bank of Tokyo-Mitsubishi, Ltd. Global Securities Services Division Custody Newsflash March 2, 2005 BTM Overview of SWIFT Standard Release 2005 ================================================================== Category Summary Impact Actions Custody Presentation and BTM announcements BTM will implement changes to SWIFT messages in line with SWIFT Standard Release High. Clients need to send and receive messages in line with Clients are requested to check that their implementation will be in line with, and note the BTM changes. ================================================================== Details As you may be well aware, SWIFT will be released on 14th May. BTM will change our system in line with the standard release. We have outlined the changes in BTM Overview of SWIFT (Settlement and Reconciliations) and BTM Overview of Swift (Corporate Actions). We inform you the outlines of our implemented changes. 1.Settlement and Reconciliation Th e change which may be of biggest impact to our clients is that PSET will be ma ndatory (unless STCO//DBNM is utilized). Clients are requested to make sure that PSET is included in their settlement instructions via MT However, while it will be mandatory, actual settlement will be executed in accordance with Market Practice, regardless of the Place of Settlement indicated in each instruction, and indicating incorrect PSET will not be a fail reason. Another change will be in the indication of sub-balance of MT535. As TAVI has been deleted, it will be replaced by NOMI, and will be used to indicate both JASDEC balances and physical shares in our client s own name. 2.Corporate Actions The new code word NBLT (new board lot quantity) and Name (new name of a company following a name change) will be used in MT564. Currently, BTM utilizes Sequence F for notifying above information, however, as these new code words will be used of MT564, Sequence F will not be utilized any longer. According to the consistency with SMPG agreement, the negative sign N for the code word WITL (withholding tax) and CHAR (charge) in current MT564 and =============================================================== The information contained herein has been derived from several sources believed to be reliable at the time of publication. Although having made every effort to ensure the accuracy of the contents, The Bank of Tokyo-Mitsubishi does not assume any liability for losses either direct or consequential caused by the use of this information. Copyright 2003 The Bank of Tokyo-Mitsubishi, Ltd. Page 1 of 2

2 MT566 will be deleted. The Bank of Tokyo-Mitsubishi, Ltd. Global Securities Services Division Custody Newsflash P lease refer to the attached documents for details. Should you have any inquires, please feel free to contact us. Global Securities Services Division, Bank of Tokyo-Mitsubishi Past Newsflash issues are available at the BTM Yen Custody Website; The site is dedicated to our clients, and accessible only with ID and Password. Should you require them, please contact us. =============================================================== The information contained herein has been derived from several sources believed to be reliable at the time of publication. Although having made every effort to ensure the accuracy of the contents, The Bank of Tokyo-Mitsubishi does not assume any liability for losses either direct or consequential caused by the use of this information. Copyright 2003 The Bank of Tokyo-Mitsubishi, Ltd. Page 2 of 2

3 BTM Overview of SWIFT (Settlement and Reconciliation)

4 Index 1 Settlement Instructions to BTM Summary PSET recommendation Settlement Instruction template Examples Messages from BTM Summary MT MT508/ MT MT MT537/

5 1 Settlement Instructions to BTM 1.1 Summary Sequence Tag Qualifier BTM usage E Settlement Details 22F LEOG If you override L/G default status in settlement of public offering, this qualifier is required. E1 Settlement Parties 95P PSET As for data field pease refer to 1.2 PSET recommendation. 1.2 PSET recommendation PSET is mandatory unless STCO//DBNM is utilized. Below table shows recommendation for PSET. Incorrect PSET will be disregarded and will not disturb our STP. We will execute settlement in accordance with Market Practice in Japan. Any instruction won't fail due to incorrect PSET as we override PSET in accordance with market practice in Japan. Type of Securities Equity Japanese Government Bond Convertible Bond PSET recommendation JJSDJPJ1XXX BOJPJPJTXXX JJSDJPJ1XXX 1.3 Settlement Instruction template Field Qualifier Definition Qualifiers Swift BTM notes and codes O/M mandatory Mandatory Sequence A - General Information 16R GENL Start of Sequence GENL M M 20C SEME Sender's Reference Number M M 23G Function of the Message PREA M C Agreement is required in using PREA NEWM or M CANC or or Repetitive Mandatory Subsequence A1 - Linkages 16R LINK Start of Subsequence LINK M M 22F LINK Linkage Type Indicator AFTE O CM Unless Linkage indicator is used for all 2

6 Field Qualifier Definition Qualifiers Swift BTM notes and codes O/M mandatory BEFO CM INFO WITH CM likned transactions and if such information is notified in a narrative field, correct settlement might not be guaranteed. 13a LINK Linked Message O 20C POOL M PREV or CM In case of using a linkage indicator PREV is required. RELA or TRRF or COMM or COLR or 16S LINK End of Subsequence LINK M M 16S GENL End of Sequence GENL M M Mandatory Sequence B - Trade Details 16R TRADDET Start of Sequence TRADDET M M If the designated date falls on a national 98a SETT M M holiday in Japan we treat the following business day as the settlement date without notification. TRAD O M 35B Identification of the Financial Instrument M M 16S TRADDET End of Sequence FIA M Repetitive Mandatory Sequence C - Financial Instrument/Account 16R FIAC Start of Sequence FIAC M M 36B SETT Quantity of Financial Instrument M M 97a Account SAFE M M Your safekeeping account with us 16S FIAC End of Sequence FIAC M Mandatory Sequence E - Settlement Details 16R SETDET Start of Settlement Details Sequence SETDET M M 22F Indicator STCO O CM JGB tax exempt customer only: In selling taxable JGB STCO//DIRT is required. SETR M M REGT O CM If registration condition is to be overriden, 3

7 Field Qualifier Definition Qualifiers Swift BTM notes and codes O/M mandatory this field must be submitted. DBNM O CM Please refer to PSET recommendation. If you override L/G default status in LEOG O CM settlement of public offering, this qualifier is required. Mandatory Subsequence E1 Settlement Parties 16R SETPRTY Start of Subsequence SETPRTY M M 95a Party BUYR M M DEAG or DECU or DEI1 or DEI2 or DEI3 or DEI4 or DEI5 or DEI6 or (This template shows Subsequence of MT542/3) Other than REAG party sequences including a client of REAG should be presented with 97A. (MT540/541) On the contrary to delivering instructions, DEAG plus at least one party should be generated. DEI7 or DEI8 or DEI9 or PSET or CM Please refer to 1.2 PSET recommendation. REAG or M RECU or REI1 or REI2 or REI3 or REI4 or REI5 or REI6 or REI7 or REI8 or REI9 or SELL or 97a SAFE Safekeeping Account SAFE O M An owner's account number with REAG is required for matching information. 4

8 Field Qualifier Definition Qualifiers Swift BTM notes and codes O/M mandatory 16S SETPRTY End of Subsequence SETPRTY M M Optional Subsequence E3 Amounts 16R AMT Start of Subsequence AMT M M SETT M M 16S AMT End of Subsequence AMT M M 16S SETDET End of Sequence SETDET M M 1.4 Examples MT543 new instruction cancellation request for SEME :16R:GENL :16R:GENL :20C::SEME// :20C::SEME//CANC :23G:NEWM :23G:CANC :16S:GENL :16R:LINK :16R:TRADDET :20C::PREV// :98A::TRAD// :16S:LINK :98A::SETT// :16S:GENL :35B:ISIN JP :16R:TRADDET HITACHI :98A::TRAD// :16S:TRADDET :98A::SETT// :16R:FIAC :35B:ISIN JP :36B::SETT//UNIT/4000, HITACHI :97A::SAFE// :16S:TRADDET :16S:FIAC :16R:FIAC :16R:SETDET :36B::SETT//UNIT/4000, :22F::SETR//TRAD :97A::SAFE// :16R:SETPRTY :16S:FIAC :95P::BUYR//EFGHGB2L :16R:SETDET :97A::SAFE//ABCD9999 :22F::SETR//TRAD :16S:SETPRTY :16R:SETPRTY :16R:SETPRTY :95P::BUYR//EFGHGB2L :95P::REAG//ABCDPJT :97A::SAFE//ABCD9999 :16S:SETPRTY :16S:SETPRTY 5

9 :16R:SETPRTY :16R:SETPRTY :95P::PSET//JJSDJPJ1 :95P::REAG//ABCDPJT :16S:SETPRTY :16S:SETPRTY :16R:AMT :16R:SETPRTY :19A::SETT//JPY , :95P::PSET//JJSDJPJ1 :16S:AMT :16S:SETPRTY :16S:SETDET :16R:AMT :19A::SETT//JPY , :16S:AMT :16S:SETDET new instruction with linkage indicator another new instruction with linkage indicator :16R:GENL :16R:GENL :20C::SEME//LINK12345 :20C::SEME//LINK23456 :23G:NEWM :23G:NEWM :16R:LINK :16R:LINK :22F::LINK//WITH :22F::LINK//WITH :13A::LINK//543 :13A::LINK//541 :20C::PREV//LINK23456 :20C::PREV//LINK12345 :16S:LINK :16S:LINK :16S:GENL :16S:GENL :16R:TRADDET :16R:TRADDET :98A::TRAD// :98A::TRAD// :98A::SETT// :98A::SETT// :35B:ISIN JP :35B:ISIN JP HITACHI HITACHI :16S:TRADDET :16S:TRADDET :16R:FIAC :16R:FIAC :36B::SETT//UNIT/4000, :36B::SETT//UNIT/4000, :97A::SAFE// :97A::SAFE// :16S:FIAC :16S:FIAC :16R:SETDET :16R:SETDET :22F::SETR//TRAD :22F::SETR//TRAD :16R:SETPRTY :16R:SETPRTY :95P::SELL//XYZZUS33 :95P::BUYR//EFGHGB2L 6

10 :97A::SAFE//XYZZ-1335 :95P::REAG//ABCDPJT :16S:SETPRTY :16S:SETPRTY :16R:SETPRTY :16R:SETPRTY :95P::DEAG//XYZZJPJT :95P::REAG//ABCDPJT :16S:SETPRTY :16S:SETPRTY :16R:SETPRTY :16R:SETPRTY :95P::PSET//JJSDJPJ1 :95P::PSET//JJSDJPJ1 :16S:SETPRTY :16S:SETPRTY :16R:AMT :16R:AMT :19A::SETT//JPY , :19A::SETT//JPY , :16S:AMT :16S:AMT :16S:SETDET :16S:SETDET 2 Messages from BTM 2.1 Summary MT Corresponding Sequence: Mandatory Subsequence E1 Settlement Parties Modification sequence field Qualifier/codes current modification reason BTM usage E1 95a PSET Field mandatory Actual place of settlement is generated. Please refer BTM PSET usage table MT508/538 Corresponding Sequence MT508: Mandatory Sequence B Intra-Position Details MT538: Repetitive Mandatory Subsequence B1 Sub-Balance 7

11 Modification field Qualifier/codes current modification reason BTM usage 93A STRE SPOS SWIFT standards-led consistency between MTs RGIS REGO SWIFT standards-led consistency between MTs Street name position. Out for registration position MT535 Corresponding Sequence: Optional Subsequence B1b Sub-Balance Modification 93C field Qualifier/codes modification reason BTM usage current TAVI NOMI due to deletion of TAVI TAVI is to be substituted by NOMI. AVAI NAVL to avoid confusion considering the current Availability code of public offer shares in Letter of Guarantee form is changed to NAVL. market practice MT536 Corresponding Sequence: Optional Subsequence B1a2a Settlement Parties Modification field Qualifier/codes current modification reason BTM usage 95a PSET stemmed from PSET usage in confirmation. Actual place of settlement is generated as MT MT537/548 Corresponding Sequence MT537: Optional Subsequence B1 Reason and Optional Subsequence C3 Status MT548: Optional Subsequence A2a Reason 8

12 Modification Qualifier/codes field current modification reason BTM usage 24B:NMAT NARR SETS new code created Against payment JGB only. Disagreement of DVP/non DVP. NARR TXST new code created JGB only. Disagreement of tax staus. New issues only. Disagreement of L/G NARR LEOG new code created acceptance. 24B:PENF NARR DKNY definition changed Counterparty refuses to receive securities. NARR MLAT definition changed In case of MT541 instruction money too late for settlement, and for MT542/3 securities too late. 9

13 BTM Overview of SWIFT (Corporate Actions)

14 Index 1 Summary MT MT Message Examples MT564-1 (Board Lot Change) MT564-2 (Name Change) MT564-3 (Cash Dividend) MT566-1 (Interest Payment) MT566-2 (Odd Lot Sale) MT

15 Outbound Messages from BTM 1 Summary 1.1 MT564 Message contents will be modified as per following table. Sequence Field current modification reason impacted CA event notes example D 36B Sequence F ADTX NBLT new code created CHAN Sequence F will not be generated any longer in notifying board lot change. MT564-1 D 70E Sequence F NAME new code created NAME Sequence F will not be generated any longer. MT564-2 ADTX E 13A optional mandatory field mandatory DVCA Corporate Option number is always 001 for MT564-3 INTR the impacted events. REDM DRAW MCAL BONU SPLR MRGR SPLF PARI E2 19A negative sign deleted consistency with SMPG DVCA MT564-3 for WITL agreement INTR 1.2 MT566 Following modifications are implemented. Sequence Field current modification reason impacted CA event notes example A 25D PROC (deleted) deletion of the field all MT566-1 D 13A optional mandatory field mandatory DVCA Corporate Option number is always 001 for MT566-1 INTR the impacted events. REDM DRAW MCAL BONU 2

16 Sequence Field current modification reason impacted CA event notes example SPLR MRGR SPLF PARI ODSL D2 19A negative sign deleted consistency with SMPG DVCA MT566-2 for WITL or agreement INTR CHAR CONV EXWA ODSL TEND E 70E TXNR ADTX usage rule changed BONU MT Message examples 2.1 MT564-1 Board Lot Change Mandatory Sequence A General Information :16R:GENL :20C::CORP//CHAN :20C::SEME//ZL :23G:NEWM :22F::CAEV//CHAN :22F::CAMV//MAND :98A::PREP// :25D::PROC//COMP :16S:GENL Mandatory Sequence B Underlying Securities :16R:USECU :35B: ISIN JP39XX XYZ CORPORATION Repetitive Mandatory Subsequence B2 Account Information :16R:ACCTINFO :97A::SAFE// :93B::ELIG//UNIT/200000, :16S:ACCTINFO 3

17 :16S:USECU Optional Sequence D Corporate Action Details :16R:CADETL :98A::EFFD// :36B::NBLT//UNIT/100, :16S:CADETL 2.2 MT564-2 Name Change Mandatory Sequence A General Information :16R:GENL :20C::CORP//NAME :20C::SEME//ZJ :23G:NEWM :22F::CAEV//NAME :22F::CAMV//MAND :98A::PREP// :25D::PROC//COMP :16S:GENL Mandatory Sequence B Underlying Securities :16R:USECU :35B: ISIN JP Repetitive Mandatory Subsequence B2 Account Information :16R:ACCTINFO :97A::SAFE// :93B::ELIG//UNIT/200000, :16S:ACCTINFO :16S:USECU Optional Sequence D Corporate Action Details :16R:CADETL :98A::EFFD// :70E::NAME//COMPANY NAME CHANGES TO MIZUHO ASSET TRUST + BANKING CO. ISIN CODE REMAINS UNCHANGED. :16S:CADETL 4

18 2.3 MT564-3 Cash Dividend Mandatory Sequence A General Information :16R:GENL :20C::CORP//DVCA :20C::SEME//ZA :23G:NEWM :22F::CAEV//DVCA :22F::CAMV//MAND :98A::PREP// :25D::PROC//COMP :16S:GENL Mandatory Sequence B Underlying Securities :16R:USECU :35B:ISIN JP SONY Corporation Repetitive Mandatory Subsequence B2 Account Information :16R:ACCTINFO :97A::SAFE// :93B::ELIG//UNIT/100, :93C::SPOS//UNIT/NELG/100, :16S:ACCTINFO :16S:USECU Optional Sequence D Corporate Action Details :16R:CADETL :98A::XDTE// :98A::PAYD// :98A::RDTE// :92F::GRSS//JPY50, :92A::TAXR//10, :16S:CADETL Repetitive Optional Sequence E Corporate Action Options :16R:CAOPTN :13A::CAON//001 :22F::CAOP//CASH :11A::OPTN//JPY :17B::DFLT//Y Repetitive Optional Subsequence E2 Cash Movements :16R:CASHMOVE 5

19 :22H::CRDB//CRED :97A::CASH// :19A::ENTL//JPY4500, :19A::GRSS//JPY5000, :19A::NETT//JPY4500, :19A::WITL//JPY500, :98A::PAYD// :98A::VALU// :16S:CASHMOVE :16S:CAOPTN 2.4 MT566-1 Interest Payment Mandatory Sequence A General Information :16R:GENL :20C::CORP//INTR :20C::SEME//XB :23G:NEWM :22F::CAEV//INTR :98A::PREP// Repetitive Optional Subsequence A1 Linkages :16R:LINK :13A::LINK//566 :20C::PREV//XB :16S:LINK :16S:GENL Mandatory Sequence B Underlying Securities :16R:USECU :97A::SAFE// :35B:ISIN JP343500A092 SONY CORPORATION BOND NO.8 :93B::ELIG//FAMT/ , :16S:USECU Optional Sequence C Corporate Action Details :16R:CADETL :98A::PAYD// :98A::RDTE// :92A::TAXR//15, 6

20 :92A::INTR//1,42 :16S:CADETL Repetitive Mandatory Sequence D Corporate Action Confirmation :16R:CACONF :13A::CAON//001 :22H::CAOP//CASH :11A::OPTN//JPY Repetitive Optional Subsequence D2 Cash Movements :16R:CASHMOVE :22H::CRDB//CRED :97A::CASH// :19A:PSTA//JPY603500, :19A::GRSS//JPY710000, :19A::NETT//JPY603500, :19A::WITL//JPY106500, :98A::POST// :98A::VALU// :16S:CASHMOVE :16S:CACONF 2.5 MT566-2 Odd Lot Sale Mandatory Sequence A General Information :16R:GENL :20C::CORP//ODSLXXXXXXXXXX18 :20C::SEME//XN :23G::NEWM :22F::CAEV//ODSL :98A::PREP// Repetitive Optional Subsequence A1 Linkages :16R:LINK :13A::LINK//565 :20C::RELA// :16S:LINK :16S:GENL Mandatory Sequence B Underlying Securities :16R:USECU :97A::SAFE//

21 :35B:ISIN JP C + S CO LTD :16S:USECU Repetitive Mandatory Sequence D Corporate Action Confirmation :16R:CACONF :13A::CAON//00 :22H::CAOP//PUTT Repetitive Optional Subsequence D1 Securities Movement :16R::SECMOVE :22H::CRDB//DEBT :35B:ISIN JP :36B::PSTA//UNIT/30, :98A::POST// :16:SECMOVE Repetitive Optional Subsequence D2 Cash Movements :16R:CASHMOVE :22H::CRDB//CRED :97A::CASH// :19A::PSTA//JPY125238, :19A::CHAR//JPY1962, :19A::GRSS//127200, :98A::POST// :16S:CASHMOVE :16S:CACONF Optional Sequence E Additional Information :16R:ADDINFO :70E::ADTX//TRADED ON UNIT PRICE JPY AGENT COMM JPY1462, OUR CHGS JPY500 :16S:ADDINFO 2.6 MT566-3 Bonus Issue Mandatory Sequence A General Information :16R:GENL :20C::CORP//BONU :20C::SEME//XF :23G:NEWM :22F::CAEV//BONU 8

22 :98A::PREP// :16S:GENL Mandatory Sequence B Underlying Securities :16R:USECU :97A::SAFE// :35B:ISIN JP AIWA :93B::ELIG//UNIT/10000, :16S:USECU Optional Sequence C Corporate Action Details :16R:CADETL :98A::XDTE// :98A::RTDE// :98A::DIVR// :98A::EFFD// :92D::ADEX//0,1/1, :16S:CADETL Repetitive Mandatory Sequence D Corporate Action Confirmation :16R:CACONF :13A::CAON//001 :22H::CAOP//SECU Repetitive Optional Sequence D1 Securities Movements :16R:SECMOVE :22H::CRDB//CRED :35B:ISIN JP AIWA NEW SHARES :36B::PSTA//UNIT/1000, :98A::POST// :16S:SECMOVE Optional Sequence E Additional information :16R:ADDINFO :70E::ADTX//NEW SHS CAN BE TRADED AS ' WHEN ISSUE TRADE ' BETWEEN AND WITH SETTLEMENT DATE :70E::ADTX// THE AVAILABILITY OF NEW SHS WILL BE NOTIFIED VIA MT508 ON THE AVAILABLE DATE. PHYSICAL SHARES, IF ANY, WILL BE AVAILABLE 2-5 DAYS LATER. :16S:ADDINFO 9