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In the first part of this contribution, we proposed extensional fuzzy numbers and a working arithmetic for them that may be abstracted to so-called many identities algebras (MI-algebras, for short). In this second part, we show that the proposed MI-algebras give a framework not only for the arithmetic of extensional fuzzy numbers, but also for other arithmetics of fuzzy numbers and even more general sets of real vectors used in mathematical morphology. This entitles us to develop a theory of MI-algebras to study general properties of structures for which the standard algebras are not appropriate. Some of the basic concepts and properties are presented here.