Revision of Non-Consolidated Earnings Estimates for Fiscal 2004

March 3, 2005

Mizuho Financial Group, Inc. ("MHFG") hereby revises its non-consolidated Earnings Estimates for Fiscal 2004 ending March 31, 2005, as described below, due to recognizing Extraordinary Gains from sale of preferred shares issued by Mizuho Holdings, Inc. ("MHHD"). This sale is conducted in response to the share repurchase offer made by MHHD as MHFG announces in its press release "Announcement Regarding Repurchase of Preferred Shares (Public Funds)" dated on March 3, 2005.

Non-Consolidated Earnings Estimates for Fiscal 2004 ending March 31, 2005

(Millions of Yen)

  Ordinary Income Ordinary Profits Net Income
Previous Estimates
(November 2004)
25,000 13,500 20,500
Revised Estimates 25,000 13,500 30,500
  Change - - 10,000
Rate of Change - - 48.7%

This document is prepared in order to announce specific facts relating to MHFG's revision of non-consolidated Earnings Estimates for Fiscal 2004 and does not constitute an offer for sale or a solicitation for investment or other similar activity, in and outside of Japan.

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