JAPAN TELECOM REVISES UPWARD ITS FISCAL 2002 NON-CONSOLIDATED FORECASTS-3

Forward-Looking Statements

This press release contains certain forward-looking statements concerning JAPAN TELECOM Holdings' strategy and its expectations concerning its financial and operating results, in particular its targets for its fiscal 2002 performance forecasts (including non-consolidated operating revenue, ordinary profit, net profit and consolidated operating revenue, ordinary profit, net profit), as well as expectations for trends in the Japanese fixed-line and wireless telecommunications markets. By their nature, forward-looking statements are inherently predictive, speculative and involve risk and uncertainty because they relate to events and depend on circumstances that will occur in the future.

There are a number of factors that could cause actual results and developments to differ materially from those expressed or implied by these forward-looking statements. These factors include, but are not limited to: changes in economic conditions that would adversely affect demand for JAPAN TELECOM Holdings' services; greater than anticipated competitive activity; slower customer growth or reduced customer retention; changes in projected growth rates in the telecommunications industry; the accuracy of and any changes in JAPAN TELECOM Holdings' projected revenue models; future revenue contributions of data services offered by JAPAN TELECOM Holdings; the impact on capital spending from investment in network capacity and the deployment of new technologies, including 3G technology; the possibility that technologies will not perform according to expectations or that vendors' performances will not meet JAPAN TELECOM Holdings' requirements; JAPAN TELECOM Holdings' ability to successfully introduce new services, in particular 3G services, and the delivery and performance of key products; the success of JAPAN TELECOM Holdings in achieving disposals of non-core assets, changes in the regulatory framework in which JAPAN TELECOM Holdings operates; and the impact of legal or other proceedings against JAPAN TELECOM Holdings or other companies in the telecommunications industry.

All written or verbal forward-looking statements attributable to JAPAN TELECOM Holdings or persons acting on its behalf made in this release or subsequent hereto are expressly qualified in their entirety by the factors referred to above.