Attachment 1

SUMMARY OF RESULTS

During the interim period ended September 30, 2003, there were signs of recovery in the Japanese economy. While employment conditions continued to be severe, capital investment rose and corporate profits improved. Personal consumption, however, remained flat.

In the information and communications sector, the adoption of broadband and IP services accelerated, heralding the full-fledged arrival of the broadband era. Within the broadband market, while ADSL speeds increased and IP telephone services gained popularity, the use of fiber-optics access also became more widespread. Amid these developments, the competition for capturing customers intensified. Meanwhile, the fixed-line market continued to shrink with the shift from fixed lines to mobile and from voice to IP communications.

Under this extremely harsh business environment, Nippon Telegraph and Telephone East Corporation (NTT East) remains committed to our basic business principles of operating as a truly customer-oriented company. During the interim period under review, NTT East continued striving to practically boost management efficiency via structural reforms, and to actively develop broadband services, pioneer new revenue sources, and otherwise reinforce our financial base. The company is also positively working toward the realization of an "energetic, worry-free, exciting and more convenient" 21st century society as advocated in the e-Japan Strategy II announced by the government this July.

NTT East's key activities during the interim period under review may be summarized as follows.

First, in the broadband access market, NTT East endeavored to continue expanding and improving services and to further decrease rates. Specifically, in July the company began offering a new "FLET'S ADSL More II" service with maximum download speeds of up to approximately 24 Mbps as an addition to our existing FLET'S ADSL "More," "8M" and "1.5M" service menu options.

NTT East also began offering a new "Flat Ether" Ethernet VPN service in July which provides flexible choice from low to high speed bands and features a flat fee for all intra-prefectural communications, facilitating the economical construction of networks linking dispersed business bases.

In addition, NTT East constructed a new dedicated IP telephone network and received government approval for transmission within the network, and to and from subscriber telephones, all in preparation for the October launch of our new "Corporate IP Telephone Service."

Furthermore, NTT East arranged alliances with domestic and foreign companies to provide attractive content that make the best possible use of the superior interactive and high-speed characteristics of the broadband environment. These included the launch of "Disney BB on FLET'S," "J. League BB on FLET'S," and "Takarazuka on FLET'S." NTT East also began providing the on-line gaming service "Game on FLET'S" on a trial basis, and otherwise strove to enhance FLET'S broadband content services.

Meanwhile, NTT East actively worked toward usage trials and utilization of leading technologies such as state-of-the-art copyright protection, IPv6 (next-generation Internet protocol), next-generation streaming distribution, and large-capacity distribution.

To improve customer convenience, NTT East expanded the service area for our B-FLET'S "New Family Type" service. The wide-area FLET'S connection service that was initiated in the greater Tokyo Area (Tokyo, Kanagawa, Chiba and Saitama Prefectures) in March was extended to throughout the entire NTT East service area in June. To make the pricing more accessible, the monthly fees were reduced for the "New Family Type" and "Mansion Type" B-FLET'S service packages. NTT strove to secure new customers via provision of half-price B-FLET'S installations or free services for a maximum period of up to three months for FLET'S ADSL.

In the high-usage corporate customer segment, NTT East continued to develop the total solutions business under the "Team m@rketing solution" brand to accurately respond to increasingly sophisticated and diverse customer needs by making full use of cutting-edge data center technologies and providing business-user fiber-optics access services such as "Mega Data Netz," "Super Wide LAN," and "Metro Ether." Also, in July NTT East opened a new Kayaba-Kabuto Data Center (in Chuo Ward, Tokyo) to join the other Ephelio Data Centers in central Tokyo (Kasumigaseki, Marunouchi, and Akasaka) providing IT solutions for corporate customers.

Meanwhile, NTT East is actively developing opportunities related to the Japanese government's "e-Japan Priority Policy Program" at the e-Japan Promotion Department inside NTT East's Business Communications Headquarters, and the e-Japan Promotion Offices in the Business Communications Departments at each branch.

In April, NTT East established a new subsidiary-NTT-GP Eco Communication, Inc.-together with NTT Facilities, Inc. and Ebara Corporation to develop business in the environmental field.

In management rationalization efforts, NTT East transferred various operational works, including portions of the branch marketing planning and branch corporate marketing operations and of the headquarters cost center facilities construction and service administration works to the "prefectural outsourcing subsidiaries"(*) and also integrated a portion of the headquarters cost center with headquarters staff administration. Moreover, in April the NTT East Group formation was rearranged by having NTT-ME Corporation specialize in the provision of Type 2 telecommunications services to corporate users.

(*) These outsourcing subsidiaries, which have been established in each prefecture, go under the names "NTT Service <prefecture name> Co., Ltd.," "NTT Business Associe <prefecture name> Co., Ltd." and "NTT-ME <prefecture/region name> Corporation"

As a result of these activities, NTT East's sales performance during the interim period ended September 30, 2003 is summarized by main service field as follows.

In broadband access services, as of the end of September 2003 there were a total of 247,000 B FLET'S subscribers, an increase of 136,000 from the end of March 2003, as well as 1,912,000 FLET'S ADSL subscribers, an increase of 482,000 from the end of March 2003.

In subscriber telephone services, as of the end of September 2003 the total number of lines installed was 25.22 million, an increase of 130,000 from the end of March 2003, while the total number of INS-Net 64 lines declined 250,000 from the end of March 2003 to 4.64 million due to the shift of customers to broadband access services.

In leased circuit services, as of the end of September 2003 the total number of High Super Digital (HSD) transmission services installed was 270,000 circuits. This represented a decline of 21,000 circuits from the end of March 2003, because of the shift of customers to business-user fiber-optics access services.

As a result of these developments, NTT East's business results for the half-year ended September 30, 2003 were as follows. Operating revenues amounted to 1,113.7 billion yen (down 5.0% from the same period of the previous year). Recurring profit amounted to 74 billion yen (up 49.9% from the same period of the previous year). Net profit came to 40.1 billion yen (up 35.8% from the same period of the previous year).


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