Mizuho Corporate Bank Named Exclusive Financial Advisor for Panama Canal Expansion Program.

NEW YORK -- Mizuho Corporate Bank, Ltd. today announced its appointment as exclusive financial advisor to the Panama Canal Authority (ACP) for the US$5.25 billion Panama Canal Expansion Program. The ACP expects the construction for the expansion to begin in 2007.

As financial advisor, Mizuho Corporate Bank's role includes reviewing the financial aspects of the ACP's Master Plan and expansion proposal, providing strategic counsel on financing structures and strategies, and creating and implementing an integrated financial model, among other items.

"We are pleased to have been selected by the ACP as the financial advisor for this important project," said Mitsuhiro Nagahama, Managing Executive Officer and Head of the Americas for Mizuho Corporate Bank. "The Canal's expansion is crucial for sustaining its valuable contribution to Panama's economy over the long term."

Expansion of the Panama Canal involves building a third lane of traffic along the waterway through the construction of a new set of locks, which will allow more traffic and double Canal capacity. Expansion will tighten the global supply chain and help get goods to market faster, thus saving time and money for both producers and consumers.

Mizuho Corporate Bank, Ltd. provides financial and strategic solutions for the increasingly diverse and sophisticated needs of clients, focusing its efforts on serving major corporations, financial institutions, and public sector entities. A relationship management approach to serving clients enables the Bank to develop customized solutions in areas such as corporate and structured finance, investment banking, transaction banking and risk management. With offices in more than 20 countries, Mizuho Corporate Bank offers clients both localized service and the extensive reach of a global business network. Mizuho Corporate Bank is a subsidiary of the Japan-based Mizuho Financial Group (NYSE: MFG), one of the largest financial services companies in the world, with total assets of more than US$1.2 trillion, as of March 31, 2006.