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March 17, 2004

Mizuho Financial Group, Inc.

Dissolution of Subsidiaries

Mizuho Financial Group, Inc. hereby announces that its wholly-owned subsidiary, Mizuho Corporate Bank, Ltd ("MHCB"), has decided to dissolve its subsidiaries, (1)ONKD Inc., (2)10822 Toller Drive LLC, (3)K2 Trust and(4)SI-II, LLC, as follows.

1. Outline of the Subsidiaries to be Dissolved
(1) ONKD Inc.
A. The Subsidiary to be Dissolved

Name ONKD Inc.
Location 1209 Orange Street, Wilmington, DE 19801, USA
Representative Kazuaki Kitabatake, Chairman & CEO

B. Reason for Dissolution
The Company is ready to go into dissolution as a result of completing sale of its real property held as collateral.

C. Outline of the Subsidiary

Business Possession and Management of real property as Collateral
Date of Establishment March, 1995
Paid-in capital USD 100 thousand
Number of Stocks issued 1 stock
Total Asset (February 2003) USD 1,075 thousand
Number of Employees Nil
Shareholder 100% owned by MHCB
Recent Financial Performance (Fiscal Year Ended in February 2003) Ordinary Profit USD 14 thousand
Net Income USD 14 thousand

D. Date of Dissolution
End of June, 2004 (Planned)

(2) 10822 Toller Drive LLC
A. The Subsidiary to be Dissolved

Name 10822 Toller Drive LLC
Location 1209 Orange Street, Wilmington, DE 19801, USA

B. Reason for Dissolution
The LLC is to go into dissolution as a result of completing sale of its real property held as collateral.

C. Outline of the Subsidiary

Business Possession and Management of real property as Collateral
Date of Establishment May, 2002
Amount Invested Nil
Total Asset (January, 2004) Nil
Number of Employees Nil
Recent Financial Performance (January, 2004) Ordinary Profit USD 0
Net Income USD 0

D. Date of Dissolution
End of May, 2004 (Planned)

(3) K2 Trust
A. The Subsidiary to be Dissolved

Name K2 Trust
Location Wilmington Trust, 1100 North Market Street, Wilmington, DE 19801, USA

B. Reason for Dissolution
The Trust was established for the purpose of booking Mezzanine & Subordinated Note as a part of securitization program of MHCB. The Trust is to be dissolved as a result of completing sale of its assets held.

C. Outline of the Subsidiary

Business Booking of Mezzanine & Subordinated Note
Date of Establishment December, 1998
Amount Invested USD 1
Total Asset (December, 2003) USD 1
Number of Employees Nil
Investor 100% owned by Spring Capital Holdings, Inc.
(which is a 100% subsidiary of MHCB)
Recent Financial Performance
(Fiscal Year Ended in December, 2003)
Ordinary Profit USD 26 thousand
Net Income USD 26 thousand

D. Date of Dissolution
End of May, 2004 (Planned)

(4) SI-II, LLC
A. The Subsidiary to be Dissolved

Name SI-II, LLC
Location 1251 Avenue of the Americas, New York, NY 10020, USA

B. Reason for Dissolution
The LLC is to go into dissolution as a result of completing sale of its funds held.

C. Outline of the Subsidiary

Business Fund Investment
Date of Establishment December, 1998
Amount Invested USD 1
Total Asset (December, 2003) USD 1
Number of Employees Nil
Investor 100% owned by Mizuho Corporate Strategic Investments USA, Inc.
(which is a 100% subsidiary of MHCB)
Recent Financial Performance
(Fiscal Year Ended in December, 2003)
Ordinary Profit USD 135 thousand
Net Income USD 135 thousand

D. Date of Dissolution
End of June, 2004 (Planned)

2. There is no change on our previously announced Earnings Estimates for the current fiscal year. (Consolidated or non-consolidated)

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