August 8, 2003

Tokyo---Tokyo Electric Power Co. (TEPCO) today submitted to the Tokyo
Stock Exchange a report on its consolidated business results for the
first quarter of FY 2003 in line with its earlier decision to disclose
quarterly business results starting this fiscal year in order to
provide investors and interested parties with timely information
concerning its business performance. The quarterly business results
disclosed today include consolidated operating revenues, ordinary
income and net income as well as the balance sheet and the statement
of income.
        
Comparing the electricity sales total volume of TEPCO on a quarterly
basis, the first and third quarters tend to be at relatively lower
levels than in the second and fourth quarters during which electricity
sales increase due to rises in summer and winter air-conditioning
demands.

The volume of electricity sales during the first quarter of FY 2003
(April-June, 2003) showed steady  overall growth of 3.1 percent from
the same quarter a year ago, amounting to 65.4 billion kWh. These sales
were achieved through increased electricity demand for industrial use,
compared with the same period of FY 2002, due to increased production
led by brisk exports, as well as greater power demand for heating due
to lower temperatures than those of last March and April. Of the total
electricity sales, sales for residential use increased 5.7 percent from
the same quarter of the previous year to 19.5 billion kWh, sales for
commercial and industrial use rose 3.0 percent from a year earlier to
27.1 billion kWh, and sales for eligible customers'* use were also up
by 0.8 percent to 18.8 billion kWh.

As for revenues, operating revenues totaled Y1,140.6 billion (Y1,112.0
billion on a non-consolidated basis) and ordinary revenues totaled
Y1,149.5 billion (Y1,117.1 billion on a non-consolidated basis). On
the other hand, with regard to expenditure, the prolonged shut down of
nuclear power plants due to safety inspections and repairs incurred
extra expenses such as fuel costs for thermal power generation, despite
efforts to reduce costs in overall business operations, including
repairs. Subsequently, ordinary expenses amounted to Y1,159.7 billion
(Y1,129.1 billion on a non-consolidated basis).

As a result, TEPCO registered a consolidated ordinary loss of Y10.2
billion (Y12.0 billion on a non-consolidated basis) and net loss of
Y8.5 billion (Y8.7 billion on a non-consolidated basis) for the April-
June quarter of this fiscal year.


*Eligible customers are those in the deregulated sector of the retail
market. They represent 2,000kW or more of demand and 20kV or more of
the voltage supplied in principle.

Please note that the above purports to be an accurate and complete
translation of the original Japanese version prepared for the
convenience of our English-speaking audience. However, in the case of
any discrepancy between the translation and the Japanese original,
the latter shall prevail.

Appendix: Summary of Financial Results for First Quarter of
          Fiscal Year 2003(April to June 2003)