Management Changes for the Mizuho Financial Group

March 12, 2007 To whom it may concern

Corporate Name : Mizuho Financial Group, Inc. Representative : Terunobu Maeda, President & CEO Head Office : 5-5, Otemachi 1-chome Chiyoda-ku, Tokyo, Japan Code Number : 8411（TSE 1st Sec., OSE 1st Sec.）

Re: Management Changes for the Mizuho Financial Group

Mizuho Financial Group, Inc. hereby announces changes in the directors, corporate auditors and executive officers (including changes in their areas of responsibility) of the following entities within the Group :

Mizuho Financial Group, Inc. Mizuho Bank, Ltd. Mizuho Corporate Bank, Ltd. Mizuho Securities Co., Ltd. Mizuho Trust & Banking Co., Ltd.

－ 1 －【Mizuho Financial Group, Inc. (MHFG)】

Name New Position (effective as of April 2, 2007) Current Position Mr. Masato Deputy President Mizuho Bank, Ltd. Ono Head of Internal Audit Group Managing Executive Officer Branch Banking Division Mr. Hiroshi Managing Executive Officer Mizuho Corporate Bank, Ltd. Motoyama Head of Strategic Planning Group Executive Officer and Head of IT, Systems & General Manager of IT & Systems Operations Group Planning Division Mr. Masanori Executive Officer Mizuho Corporate Bank, Ltd. Murakami General Manager of Corporate General Manager of Syndicated Communications Finance Division Mr. Hidemi Executive Officer General Manager of Group Strategic Hiroi General Manager of Group Strategic Planning Planning Mr. Shunichi Director Deputy President Asada (Representative Director) Head of Internal Audit Group Mr. Tetsuji Director Managing Director and Kosaki Managing Executive Officer Head of Strategic Planning Group and Head of IT, Systems & Operations Group Mr. Hiroshi Retired Executive Officer Kiyama General Manager of Corporate Planning Mr. Yoshiaki Retired Executive Officer Ohashi General Manager of Corporate Communications Mr. Tetsuro Retired Executive Officer Sugiura Mizuho Research Institute, Ltd. Managing Executive Officer Mr. Shuzo Retired Executive Officer Haimoto General Manager of Human Resources

－ 2 － Name New Position (to become effective in late June 2007) Current Position Mr. Masato Deputy President （Mentioned above） Ono (Representative Director) Head of Internal Audit Group Mr. Hiroshi Managing Director and （Mentioned above） Motoyama Managing Executive Officer Head of Strategic Planning Group and Head of IT, Systems & Operations Group Mr. Akihiko Director Nippon Mining Holdings, Inc. Nomiyama Special Advisor Mr. Kanemitsu Director Nissan Motor Co., Ltd. Anraku former Vice Chairman Nissan Network Holdings Co., Ltd. Counselor Mr. Shigeru Corporate Auditor Mizuho Corporate Bank, Ltd. Yamamoto (full-time) Managing Executive Officer Head of Global Portfolio Management Unit, Head of Financial Institutions & Public Sector Business Unit, Head of Corporate Restructuring Business Unit Mr. Shunichi Retired （Mentioned above） Asada Mr. Tetsuji Retired （Mentioned above） Kosaki Mr. Yoshiharu Retired Director Fukuhara Mr. Glen S. Retired Director Fukushima Mr. Junichi Retired Corporate Auditor Iwabuchi (full-time) The appointment of Messrs. Masato Ono, Hiroshi Motoyama, Akihiko Nomiyama and Kanemitsu Anraku as directors and the appointment of Mr. Shigeru Yamamoto as corporate auditor are subject to approval at the regular general meeting of shareholders of MHFG to be held in late June 2007. Each of Messrs. Nomiyama and Anraku qualifies as an “outside director” under the Company Law of Japan.

－ 3 －【Mizuho Bank, Ltd. (MHBK)】

Name New Position (effective as of April 2, 2007) Current Position Mr. Takashi Deputy President Managing Director and Nonaka (Representative Director) Managing Executive Officer Compliance Group, Consumer and Private Banking Group Branch Banking Division Mr. Tetsuji Deputy President Mizuho Financial Group, Inc. Kosaki (Representative Director) Managing Director and Internal Audit Group Managing Executive Officer Head of Strategic Planning Group and Head of IT, Systems & Operations Group Mr. Haruhisa Managing Director and Managing Director and Shiraishi Managing Executive Officer Managing Executive Officer IT & System Group, IT & System Group Branch Banking Division Mr. Naomi Managing Director and Managing Executive Officer Inoue Managing Executive Officer Operations Group, Operations Group, Customer Satisfaction Division Branch Banking Division, Customer Satisfaction Division Mr. Takuro Managing Director and Managing Executive Officer Yoshida Managing Executive Officer Corporate Banking Group Corporate Banking Group Mr. Shuzo Managing Director and Mizuho Financial Group, Inc. Haimoto Managing Executive Officer Executive Officer Risk Management Group, General Manager of Human Resources Human Resources Group, Compliance Group(joint) Mr. Kaoru Managing Executive Officer Managing Executive Officer Itoh Branch Banking Division Public Sector Banking Group, Branch Banking Division Mr. Nobutake Managing Executive Officer Managing Executive Officer Nishijima Business Development Division Products Group Mr. Masaki Managing Executive Officer Executive Officer Tashiro Credit Division General Manager of Credit Supervision Division Ⅰ

－ 4 － Name New Position (effective as of April 2, 2007) Current Position Mr. Makoto Managing Executive Officer Executive Officer Nogami Branch Banking Division General Manager of Shibuya-chuo Branch Mr. Naoto Managing Executive Officer Executive Officer Tsumita Public Sector Banking Group, General Manager of Internal Branch Banking Division Audit Division Mr. Nobuhiro Managing Executive Officer Executive Officer Ishikawa Credit Division Gereral Manager of Kobunacho Branch Mr. Takeshi Managing Executive Officer Executive Officer Mitsuma Consumer and Private Banking Group General Manager of Consulting Business Division Mr. Ippei Executive Officer General Manager of Branch Banking Miyata Unit Ⅳ Mr. Yuichi Executive Officer General Manager of Credit Kawamoto and Alternative Investment Division Mr. Tomozo Executive Officer General Manager of Financial Yoshikawa Planning Division Mr. Fukuju Executive Officer General Manager of Toranomon Branch Kishino Mr. Sunao Executive Officer General Manager of Operations Hirata Planning Division Mr. Mutsuo Executive Officer General Manager of Branch Banking Kanazawa Unit Ⅵ Mr. Kenkichi Executive Officer General Manager of Administrative Nomura Operations Division Mr. Yukio Executive Officer General Manager of Shibuya Branch Yokoyama Mr. Takeo Executive Officer Mizuho Corporate Bank, Ltd. Nakano Senior Corporate Officer of Financial Control & Accounting Group Mr. Masatoshi Executive Officer General Manager of Head Office Yano Mr. Kunihiro Executive Officer General Manager of Kudan Branch Kondo Mr. Masahiko Executive Officer General Manager of Corporate Finance Furutani Division

－ 5 － Name New Position (effective as of April 2, 2007) Current Position Mr. Hiroshi Corporate Auditor Mizuho Financial Group, Inc. Kiyama (full-time) Executive Officer General Manager of Corporate Planning Mr. Teruo Corporate Auditor General Manager of Compliance Division Fujino (full-time) Mr. Mitsuru Retired Deputy President Machida (Representative Director) Compliance Group, Branch Banking Division Mr. Toshikazu Retired Deputy President Kitano (Representative Director) Internal Audit Group Mr. Kiyotaka Retired Managing Director and Noborihayashi Managing Executive Officer Credit Division Mr. Hideaki Retired Managing Director and Saito Managing Executive Officer Risk Management Group, Human Resources Group, Compliance Group (joint) Mr. Akira Retired Managing Executive Officer Kiyohara (effective as of March 27, 2007) Credit Division Mr. Masato Retired Managing Executive Officer Ono Branch Banking Division Mr. Yasushi Retired Managing Executive Officer Ohkubo Branch Banking Division Mr. Torao Retired Executive Officer Yamakawa General Manager of Nihonbashi Branch Mr. Akinori Retired Executive Officer Bou General Manager of Ginza Branch Mr. Takeshi Retired Executive Officer Honda General Manager of Kyobashi Branch Mr. Toichiro Retired Corporate Auditor Matsutani (full-time)

－ 6 － Name New Position (effective as of April 2, 2007) Current Position Mr. Shigeru Retired Corporate Auditor Matsuura (full-time) The appointment of Messrs. Tetsuji Kosaki, Naomi Inoue, Takuro Yoshida and Shuzo Haimoto as directors and the appointment of Messrs. Hiroshi Kiyama and Teruo Fujino as corporate auditors are subject to approval at the general meeting of shareholders of MHBK to be held on April 2, 2007.

－ 7 －【Mizuho Corporate Bank, Ltd. (MHCB)】

Name New Position (effective as of April 2, 2007) Current Position Mr. Norimasa Deputy President Managing Director and Kuroda (Representative Director) Managing Executive Officer Head of International Banking Unit Mr. Takashi Deputy President Managing Director and Tsukamoto (Representative Director) Managing Executive Officer Chief Strategy Officer, Chief Financial Officer Mr. Yasuhiro Deputy President Managing Director and Sato (Representative Director) Managing Executive Officer Chief Auditor Head of Corporate Banking Unit Mr. Masao Managing Director and Managing Executive Officer Fujioka Managing Executive Officer Chief Risk Officer, Chief Risk Officer, Chief Human Resources Officer Chief Human Resources Officer Mr. Tetsuo Managing Director and Executive Officer Hiramatsu Managing Executive Officer General Manager of Human Chief Strategy Officer, Resources Management Division Chief Financial Officer Mr. Mikito Managing Director and Executive Officer Nagai Managing Executive Officer General Manager of Corporate Head of Corporate Banking Unit Banking Division No.9 Mr.Norio Managing Executive Officer Managing Executive Officer Nakajima Head of Global Markets Unit, Head of Global Markets Unit Head of Global Alternative Investment Unit Mr.Takashi Managing Executive Officer Managing Executive Officer Sato Head of Global Transaction Banking Unit, Chief Information Officer, Chief Operations Officer Mr. Motoo Managing Executive Officer Executive Officer Nagai Head of Global Portfolio Management Unit, General Manager of Corporate Head of Financial Institutions & Public Banking Division No.6 Sector Business Unit

－ 8 － Name New Position (effective as of April 2, 2007) Current Position Mr. Motonobu Managing Executive Officer Executive Officer Sugimoto General Manager of Osaka Corporate Banking Division No.2 Mr. Jun Managing Executive Officer Executive Officer Watanabe General Manager of Corporate Banking Division No.16 Mr. Seiichi Managing Executive Officer Executive Officer Chiba General Manager of Corporate Restructuring Division No.1 Mr. Setsu Managing Executive Officer Executive Officer Onishi Head of Global Syndicated Finance Unit, General Manager of Corporate Head of Global Financial Products Unit Banking Division No.14 Mr. Hidetake Managing Executive Officer Executive Officer Nakamura Head of International Banking Unit General Manager of Corporate Banking Division No.13 Mr. Katsuji Executive Officer General Manager of Nihonbashi Nagatsu Corporate Banking Division Mr. Hideo Executive Officer General Manager of Fukuoka Ishii Corporate Banking Division Mr. Tsuyoshi Executive Officer General Manager of Portfolio Hase Management Division Mr. Sukehiro Executive Officer General Manager of Industry Ito Research Division Mr. Kimiharu Executive Officer General Manager of Financial Institutions Mayama Banking Division No.1 Mr. Shuji Executive Officer General Manager of Corporate Ayabe Banking Division No.17 Mr. Kotaro Executive Officer General Manager of China Business Nakazawa Promotion Division Mr. Takehito Executive Officer General Manager of Beijing Branch Miyaguchi Mr. Shinya Executive Officer General Manager of Project Finance Wako Division No.1 Mr. Nobuhide Executive Officer General Manager of Global Trade Hayashi Finance Division Mr. Hideyuki Executive Officer Senior Corporate Officer of Takahashi Strategic Planning Group

－ 9 － Name New Position (effective as of April 2, 2007) Current Position Mr. Daisaku Executive Officer General Manager of Abe Executive Secretariat Mr. Shigeto Executive Officer General Manager of Corporate Yanase Banking Division No.4 Mr. Keizo Corporate Auditor Mizuho Bank, Ltd. Nemoto (full-time) General Manager of Marunouchi Branch Mr. Masayoshi Retired Deputy President Kanaji (Representative Director) Mr. Shusaku Retired Managing Executive Officer Minoda Head of Global Syndicated Finance Unit, Head of Global Financial Products Unit Mr. Shigeru Retired Managing Executive Officer Yamamoto Head of Global Portfolio Management Unit, Head of Financial Institutions & Public Sector Business Unit, Head of Corporate Restructuring Business Unit Mr. Kiyoto Retired Managing Executive Officer Matsuda Mr. Tatsutsugu Retired Managing Executive Officer Fujihara Mr. Yutaka Retired Executive Officer Endo General Manager of International Coordination Division Mr. Hiroshi Retired Executive Officer Motoyama General Manager of IT & Systems Planning Division Mr. Satoru Retired Executive Officer Akiyama General Manager of Syndicated Finance Distribution Division Mr. Yukio Retired Executive Officer Matsunaga General Manager of Bangkok Branch Mr. Hiroshi Retired General Manager of Corporate Yamamoto Banking Division No.12 Mr. Masatoshi Retired Executive Officer Muto General Manager of International Treasury Division

－ 10 － Name New Position (effective as of April 2, 2007) Current Position Mr. Tsuyoshi Retired Corporate Auditor Kusumoto (full-time) The appointment of Messrs. Masao Fujioka, Tetsuo Hiramatsu and Mikito Nagai as directors and the appointment of Mr. Keizo Nemoto as corporate auditor are subject to approval at the general meeting of shareholders of MHCB to be held on April 2, 2007.

－ 11 －【Mizuho Securities Co., Ltd. (MHSC)】

Name New Position (effective as of April 2, 2007) Current Position Mr. Kiyoto Deputy President Mizuho Corporate Bank, Ltd. Matsuda (Representative Director) Managing Executive Officer Mr.Kunimi Managing Director Managing Director Tokuoka Head of Global Investment Head of Investment Banking Banking Groups, Products Group Head of Financial Institutions & Public Institutions Group, Head of Investment Banking Products Group Mr.Takahisa Managing Director Managing Director Matsuura Head of Global Markets Co- Head of Equity Group & Products Groups Mr. Yutaka Managing Director Mizuho Corporate Bank, Ltd. Endo Head of Planning Group Executive Officer General Manager of International Coordination Division Mr.Hiroshi Managing Director Managing Director Ikeda Head of Investment Banking Group Ⅰ Head of Investment Banking Group Mr.Tetsuya Managing Director Managing Director Fukabori Head of Investment Banking Group Ⅱ Head of Capital Markets Group Mr.Makoto Managing Director Managing Director Fujimaki Joint Head of Investment Joint Head of Capital Markets Group Banking Group Ⅱ Mr.Yuichiro Managing Director Managing Director Ikeda Head of International Business Group Head of International Business Promotion Group Mr.Tadao Managing Director Managing Director Ogoshi Joint Head of International Joint Head of Advisory Group Business Group Mr.Koichiro Managing Director Managing Director Sugii Head of Equity Group, Co- Head of Equity Group, Co- Head of Products Promotion Group Head of Products Promotion Group

－ 12 － Name New Position (effective as of April 2, 2007) Current Position Mr. Satoru Managing Director Mizuho Corporate Bank, Ltd. Akiyama Co- Head of Products Promotion Group Executive Officer General Manager of Syndicated Finance Distribution Division Mr. Yoshiaki Managing Director Mizuho Financial Group, Inc. Ohashi Head of Risk Management Executive Officer & Finance Group General Manager of Corporate Communications Mr. Futoshi Managing Director Joint Head of Investment Banking Group, Okada Joint Head of Investment General Manager of J-REIT Business Banking Group Ⅰ Promotion & Coordination Department Mr. Shingo Managing Director Investment Banking Group Ishizaki Head of Kansai Investment Senior General Manager, Banking Group Capital Markets Group Senior General Manager Mr. Junichi Managing Director Head of Syndication Group Nakamura Head of Capital Markets Group Mr. Kosuke Managing Director Joint Head of Equity Group, Arao Joint Head of Equity Group Equity Group Senior General Manager Mr. Takeshi Managing Director General Manager, Senda Mizuho International plc Planning Group International Department President & CEO Mizuho International plc President & CEO Mr. Hajime Retired Managing Director Nakai Head of Planning Group, Head of Risk management & Finance Group The appointment of Mr. Kiyoto Matsuda as director is subject to approval at the general meeting of shareholders of MHSC to be held on April 2, 2007.

－ 13 －【Mizuho Trust & Banking Co., Ltd. (MHTB)】

Name New Position (effective as of April 2, 2007) Current Position Mr. Mareto Deputy President Senior Managing Director and Sako (Representative Director) Senior Managing Executive Officer Mr. Yasushi Deputy President Mizuho Bank, Ltd. Ohkubo Managing Executive Officer Branch Banking Division Mr. Eisuke Managing Executive Officer Managing Executive Officer Marumori General Manager of Treasury Department Mr. Naoki Managing Executive Officer Executive Officer Furuya Mr. Akinori Managing Executive Officer Mizuho Bank, Ltd. Bou Executive Officer General Manager of Ginza Branch Mr. Yoriaki Managing Executive Officer Executive Officer Takebe General Manager of Business General Manager of Real Estate Planning Department Planning Department Mr. Norio Executive Officer Executive Officer Matsuo General Manager of Nagoya Branch General Manager of Business Planning Department Mr. Eiji Executive Officer Executive Officer Sumikura General Manager of Real Estate General Manager of Sapporo Branch Planning Department Mr. Shigeki Executive Officer General Manager of Real Estate Kuwahara General Manager of Real Estate Business Department Ⅳ Business Department Ⅳ Mr. Ryuichiro Executive Officer General Manager of Trust Business Nomura General Manager of Trust Business Advisory Department Advisory Department Mr. Tsutomu Executive Officer General Manager of Business Tsunashima General Manager of Osaka Branch Department Ⅱ Mr. Masao Executive Officer General Manager of Portfolio Fukuda General Manager of Asset Management Management Department Business Planning Department

－ 14 － Name New Position (effective as of April 2, 2007) Current Position Mr. Kouji Executive Officer General Manager of Corporate Kawakubo General Manager of Corporate Business Planning Department Business Planning Department Mr. Kiyotaka Executive Officer General Manager of Corporate Nakakita General Manager of Business Planning Department Department Ⅱ Mr. Nobuyuki Executive Officer General Manager of Pension Minato General Manager of Pension Business Business Planning Department Planning Department Mr. Chiharu Director Deputy President Baba (Representative Director) Mr. Yasuyuki Director Managing Director and Arima Managing Executive Officer Mr. Hiromi Director Managing Director and Konno Managing Executive Officer Mr. Takatoshi Retired Executive Officer Aoki General Manager of Pension Actuarial Services Department Mr. Minoru Retired Executive Officer Nakanishi General Manager of Osaka Branch Mr. Kou Retired Executive Officer Uomoto General Manager of Nagoya Branch Mr. Masato Retired Executive Officer Murakami General Manager of Asset Management Business Planning Department

Name New Position (to become effective in late June 2007) Current Position Mr. Yasushi Deputy President （Mentioned above） Ohkubo (Representative Director) Mr. Naoki Managing Director and （Mentioned above） Furuya Managing Executive Officer Mr. Akinori Managing Director and （Mentioned above） Bou Managing Executive Officer Mr. Hiroyuki Corporate Auditor Executive Officer Sugahara (full-time) General Manager of Internal Audit Department

－ 15 － Name New Position (to become effective in late June 2007) Current Position Mr. Yoichi Corporate Auditor Sompo Japan Insurance Inc. Takamiya Senior Managing Executive Officer Mr. Chiharu Retired （Mentioned above） Baba Mr. Yasuyuki Retired （Mentioned above） Arima Mr. Hiromi Retired （Mentioned above） Konno Mr. Tsutomu Retired Corporate Auditor Kameda (full-time) Mr. Kazuto Retired Corporate Auditor Baba The appointment of Messrs. Yasushi Ohkubo, Naoki Furuya and Akinori Bou as directors and the appointment of Messrs. Hiroyuki Sugahara and Yoichi Takamiya as corporate auditors are subject to approval at the regular general meeting of shareholders of MHTB to be held in late June 2007. Mr. Takamiya qualifies as an “outside corporate auditor” under the Company Law of Japan.

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