The OECD Nuclear Energy Agency (NEA) has established a Task Group in the Committee on the Safety of Nuclear Installations (CSNI) to perform an analysis of Three Mile Island Unit 2 (TMI-2) accident as a standard problem to benchmark severe accident computer codes and to assess the capability of the codes. The TMI-2 Analysis Exercise was performed at the Japan Atomic Energy Research Institute (JAERI) using the THALES (Thermal-Hydraulic Analysis of Loss-of-Coolant, Emergency Core Cooling and Severe Core Damage) - PM1/TMI code. The purpose of the analysis is to verify the capability of THALES-PM1/TMI code to describe accident progression in the actual plant. The present paper describes the final result of the TMI-2 Analysis Exercise performed at JAERI. (author).