February 10, 2004 

Tokyo-Tokyo Electric Power Co. today submitted to the Tokyo Stock Exchange
a report on its consolidated business results for the first to third
quarters of FY2003 (April 1 - December 31, 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 volume of electricity sales of TEPCO in the first three quarters of
FY2003 (April through December 2003) aggregated 203.7 billion kWh, down 2.2
percent from the same period of FY2002, due largely to the coolest summer in
recent years and relatively warm weather in and after November, which
resulted in decreases in air-conditioning demands.
Of the total electricity sales, sales for residential use decreased 2.4
percent from a year before to 61.3 billion kWh, sales for commercial and
industrial use declined 1.8 percent to 86.1 billion kWh, and sales for
eligible customers'* use were also down by 2.6 percent to 56.3 billion kWh.

As for revenues, electricity sales totaled Y3,561.1 billion (Y3,481.2 billion
on a non-consolidated basis) during the period and ordinary revenues totaled
Y3,577.6 billion (Y3,495.1 billion on a non-consolidated basis). On the other
hand, with regard to expenditure, ordinary expenses were held to Y3,356.3
billion (Y3,266.9 billion on a non-consolidated basis) during the period, as
a result of efforts to further improve efficiency and reduce costs in overall
business operations, including reviews of its retirement payments and pension
system, as well as lower interest rates and decreases in outstanding corporate
debenture issues and borrowings, although the prolonged suspension of nuclear
power plants incurred extra expenses such as fuel costs for thermal power
generation.

As a result, TEPCO registered a consolidated ordinary income of Y221.3 billion
(Y228.2 billion on a non-consolidated basis) and net income of Y135.3 billion 
(Y145.5 billion on a non-consolidated basis) for the April-December period in
2003.

As for its business forecast for the whole fiscal year, TEPCO has not changed
its business outlook for FY2003 because the final results are expected to be
approximately the same as predicted when the mid-term results were announced.

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

Appendices

 Summary of Financial Results for the First to Third Quarter of Fiscal Year 2003 
 (Nine Months Ended December 31, 2003)