Creation of Trust for Selling Securities

May 23, 2005

Mizuho Financial Group, Inc.("MHFG") has decided to create a trust for the purpose of selling a part of our Mizuho Trust & Banking Co., Ltd. ("MHTB") stockholdings.

1. Reason for Creating Trust

MHFG will gradually sell a portion of our MHTB stockholdings in the light of the change of delisting standard by Tokyo Stock Exchange, Inc.

2. Summary of Trust Agreement

(1) Number of selling stocks
(Trust Assets)
250,000,000 MHTB common stocks
(Percentage of total outstanding MHTB common stocks: 4.98%)
(2) Term of Trust Agreement From May 23, 2005 to March 31, 2006
(3) Settlor and Beneficiary Mizuho Financial Group, Inc.
(4) Trustee Trust and Custody Services Bank, Ltd.

(Reference) MHTB common stocks as of March 31, 2005

Number of shares issued 5,024,755,829
Number of MHFG holding shares 3,750,391,652 (74.64%)

This document is prepared in order to announce specific facts relating to MHFG's creating trust for selling securities 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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