MITSUBISHI ESTATE

MAY 27, 2005

New President & Chief Executive Officer Takes Office at Mitsubishi Estate

Mitsubishi Estate Co., Ltd. announced today the decision by the board of directors to appoint President & Chief Executive Officer Shigeru Takagi to the position of Director & Chairman Emeritus and Director & Executive Vice President Keiji Kimura to the position of President & Chief Executive Officer, both appointments to become effective on June 29, 2005.

Director & Chairman Emeritus	Shigeru Takagi (currently President & Chief Executive Officer)
President & Chief Executive Officer	Keiji Kimura (currently Director & Executive Vice President)