RNS Number:1083I
Mizuho Holdings Inc
28 February 2003

              Announcement of Result of the Tender Offer


Mizuho Bank, Ltd. "MHBK"), a wholly-owned subsidiary of Mizuho Holdings, Inc.
("MHHD"), adopted a resolution to make a tender offer ("Offer") for common
shares of Mizuho Investors Securities Co., Ltd. ("Target Company") in the
meeting of the board of directors held on February 5, 2003 and executed the
Offer from February 7, 2003 to February 27, 2003. 

MHHD has announced the result of the Offer as follows.

                             Summary of the Offer

1. Name of the Offerer
   Corporate name:              Mizuho Bank, Ltd. 
   Head office:                 1-5 Uchisaiwai-cho 1-chome,
                                Chiyoda-ku, Tokyo 
   Representative;              Tadashi Kudo, President & CEO


2. Outline of the Offer (announced on February 5, 2003)
   (1) Name of the Target Company:  Mizuho Investors Securities Co., Ltd.
   (2) Type of Shares to be Purchased:   Common shares
   (3) Period of the Offer: From February 7, 2003 to February 27, 2003 (21 days)
   (4) Purchase Price:   89 yen per share


3. Result of the Offer
  (1) Result of application:
      Number of Shares to be Purchased:   338,295,000 
      Number of Shares Applied:           338,295.000 
      Number of Shares Purchased:         338,295,000


(2) Consequence of the Offer:
    Number of Shareholders Applying:      1
    Number of Shares Applied:             338,295,000
    Number of Shares Purchased:           338,295,000
    Number of Shares to be Returned:      0
    Since the number of the shares applied is 338,295,000, which is equal to the
    number of shares to be purchased, MHBK will purchase all of the shares 
    applied.

(3) Change of MHBK's Ownership after the closing of the Offer;
         (Before)  The number of voting rights:    338,296 (27.57%)
         (After)   The number of voting rights:    676,591 (55.14%) 
         Note: Entire voting rights of the Target Company: 1,226,945


(4) Funding for the Offer:   30,161 million yen


4. Means and Start Date of Settlement of the Offer
  (1) Name and Head Office of the Securities Company which Makes Settlement 
      of the Offer:
         Mizuho Investors Securities Co., Ltd.
         13-16 Nihonbashi-Kayaba-cho 1-chome, Chuo-ku, Tokyo

  (2) Start Date of Settlement:       March 6, 2003

  (3) Means of Settlement:
      Soon after closing of the Offer, a confirmation of the Offer will be sent
      by mail to an address of the applying shareholder. (If the shareholder is 
      a foreign investor, it will be sent to an address of its standing proxy.)
      Cash transaction will be used in settlement of the Offer. At the 
      instruction of the applying shareholder, settlement will be made either by 
      remittance from Mizuho Investors Securities Co., Ltd. to the designated
      account or by payment at the head office or any branch of Mizuho Investors 
      Securities Co., Ltd. in Japan promptly after the start date.


5. Outlook for Future
   As a result of this transaction, MHBK will become a direct parent company of
   the Target Company. MHBK aims to achieve further improvement of profitability 
   by enhancing synergistic collaboration between banking and securities 
   business. In addition, the transaction will have no effect on MHHD's 
   previously announced earnings estimate for this fiscal year since both MHBK 
   and the Target Company are subsidiaries of MHHD.



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

END
RTEUWVSRONRUURR