RNS Number:8089G
Mizuho Holdings Inc
30 January 2003


                Debt Forgiveness to Nissan Construction Co., Ltd.

Mizuho Holdings, Inc. has announced that its wholly-owned subsidiary, Mizuho
Corporate Bank, Ltd., has decided to release Nissan Construction Co., Ltd. (the
"Company") from certain of its debts in response to the reorganization plan
which was approved in the creditors' meeting today. This decision is subject to
the approval of the reorganization plan by Tokyo District Court.


1. Outline of the Company

   (1) Address : 2-6, Minami-Aoyama 1-chome, Minato-ku, Tokyo
   (2) Assignee: Mr. Katsumi Nasu, Mr. Shigeo Kasahara
   (3) Capital : JPY 10,267 million


2. Details of Relevant Developments

March 30, 2002        The Company filed for commencement of corporate 
                      reorganization procedure with the Tokyo District Court. 

April 24, 2002        Commencement of corporate reorganization procedure was
                      decided. 

January 30, 2003      The reorganization plan was approved in the creditors' 
                      meeting.


3. Claims to be waived by Mizuho Corporate Bank, Ltd.

Subject to the approval by Tokyo District Court, Mizuho Corporate Bank, Ltd.
will release the Company from its debts in the amount of JPY 31,773 million


4. Effect of this Development on Profit/Loss of Mizuho Holdings, Inc.

This development will have no effect on Mizuho's previously announced 
projections for this fiscal year.



                      Please direct any inquiries to:
            
      Mizuho Holdings, Inc.,    Public Relations          03-5224-2026



                      This information is provided by RNS
            The company news service from the London Stock Exchange


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