Issuance of Straight Bonds

September 14, 2005

Mizuho Corporate Bank, Ltd. (the Bank) has decided on a policy of raising long-term funds primarily through the issuance of straight bonds from April 2006, in light of the diversification of investors' needs and the development of the market for bonds issued by banks in recent years, as well as the current market conditions.
While the amount and term of the straight bonds to be issued have not yet to be determined, an annual total of JPY600 billion with quarterly issuances of approximately JPY150 billion of five-year straight bonds underwritten by securities companies is being considered. Other straight bonds with different maturities will also be considered, if necessary, based on investors' needs, market conditions and the Bank's funding needs.
In connection with these issuances of the straight bonds that are being considered, the Bank plans to suspend the monthly issuances of five-year coupon debentures which are aimed primarily at institutional investors from April 2006.

This release contains forward-looking statements that are based on our current expectations and are subject to significant risks and uncertainties. Actual results may differ materially from the forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to, changes in overall economic conditions, changes in market rates of interest, declines in the value of equity securities or real estate, the deterioration of the quality of loans to certain industry sectors and the effect of new legislation or government directives. We disclaim any obligation to update or revise the forward-looking statements, except as may be required by any applicable laws and regulations.
This release is prepared in order to provide information and does not constitute an offer for sale or solicitation for investment or other similar activity in or outside of Japan.

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