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| March 14, 2006 |
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| TOKYO, JAPAN – NTT Communications Corporation (NTT Com) today announced that it completed its sale of about 12.6 million common shares in Philippine Long Distance Telephone Company (PLDT) to NTT DoCoMo, Inc. (DoCoMo) for 52.1 billion yen. An agreement for this sale was reached on January 31, 2006 between NTT Com, DoCoMo, PLDT and First Pacific Company Limited, the largest shareholder of PLDT, and an announcement regarding this agreement was made on the same day. The sale leaves NTT Com with a 7 percent stake in PLDT. NTT Com will report a capital gain of 43.7 billion yen (as previously announced on January 31, 2006) on the sale as a special profit in the current fiscal year ending March 31 2006. NTT Com expects that this transaction will result in additional net income of 25.0 billion yen for the current fiscal year. About NTT Com NTT Communications is a subsidiary of Nippon Telegraph and Telephone (NTT) Corporation (NYSE: NTT) - one of the world's largest telecommunications companies. NTT Com provides high-quality, technologically advanced network management, security and solution services to consumers, corporations and governments on a global basis, with a special focus on the Asia-Pacific region. Its world-class backbone network, combined with the networks of partner companies around the world, offers access to more than 200 countries. NTT Com Group has more than 30 companies in the Asia-Pacific region, Europe and the Americas. The company has garnered several awards for its leading edge technologies, outstanding performance and customer service, including "World Communication Awards Best Customer Care - 2005." For more information, please visit http://www.ntt.com |
