MUFG Issues Statement Regarding Transaction with Morgan Stanley

Business Wire, Oct 8, 2008

TOKYO -- Mitsubishi UFJ Financial Group, Inc. ("MUFG") (NYSE:MTU) today issued the following statement:

"We have been made aware of rumors to the effect that MUFG is seeking not to close on our proposed investment in, and strategic alliance with, Morgan Stanley (NYSE:MS). Our normal policy is not to comment on rumors. Nevertheless, we wish to state that there is no basis for any such rumors. The Federal Reserve approved the transaction on October 6, 2008, subject to a mandatory five day waiting period prior to closing. We expect that the closing of the transaction will occur on the first banking day in New York and Tokyo after the end of that waiting period, which is Tuesday, October 14. MUFG is looking forward to completing the transaction and realizing the benefits of our strategic alliance."

About MUFG

MUFG is one of the world's leading financial groups, with total assets of more than [yen]190 trillion (approximately $1.8 trillion) as of March 31, 2008. MUFG's services include commercial banking, trust banking, securities, credit cards, consumer finance, asset management and leasing. The Group's operating companies include BTMU, Japan's largest commercial bank, Mitsubishi UFJ Trust and Banking Corporation, Japan's leading trust bank, and Mitsubishi UFJ Securities, one of Japan's largest securities firms. For more information about MUFG, please visit www.mufg.jp/english/about

Cautionary Statement Concerning Forward-Looking Information

This press release contains forward-looking statements such as "expects," "looking forward" and other similar words regarding the current expectations of MUFG. Such forward-looking statements are not guarantees of future performance or events and involve risks and uncertainties. Actual results may differ materially from those described in such forward-looking statements as a result of various factors. MUFG does not undertake any obligation to update the forward-looking statements contained herein, or to update the reasons why actual results could differ from those projected in the forward-looking statements.