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Business Revitalization Plan

The Mizuho Financial Group, Inc. has reviewed its current Business Revitalization Plan, and on this day submitted a new Business Revitalization Plan to the Financial Services Agency according to Article 1-2 of the Cabinet Order for the Law Concerning Emergency Measures for the Early Strengthening of the Financial Functions and the guideline entitled Basic Policies on the Revision of Revitalization Plans as announced by the Financial Reconstruction Commission on Sep 30, 1999.

The new Business Revitalization Plan has been based on our "Channel to Discovery" Plan, which was announced in Apr of this year. The group will do its utmost to implement initiatives for the steady fulfillment of our Business Revitalization Plan, and we aim to completely repay public funds by the end of FY2006 through the steady accumulation of retained earnings.

This announcement 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.

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