Mizuho Corporate Bank Closes Financing for Marubeni Caribbean Power Holdings

NEW YORK, NY--(Marketwire - August 9, 2007) - Mizuho Corporate Bank, Ltd. ("Mizuho") today announced that, together with four other banks, it has successfully closed the US$310 million financing facility for Marubeni Caribbean Power Holdings, Inc. ("MCPH"), a newly established company wholly owned by Marubeni Corporation of Japan ("Marubeni").

"We are pleased to have successfully closed this financing for Marubeni, a valued client of Mizuho," said Mitsuhiro Nagahama, Managing Executive Officer and Head of the Americas for Mizuho Corporate Bank. "It is a significant transaction for the region, marking the first time a Japanese company has acquired vertically integrated utility assets overseas and made substantial, concurrent investments in the Caribbean."

The proceeds from the facility support MCPH's acquisition of equity shares of Mirant Caribbean Holdings from U.S. independent power producer, Mirant Corporation. The acquired interests include stakes in four utilities throughout the region, with total net generating capacity of 1,150 megawatts.

As the financial advisor to Marubeni, Mizuho employed a project finance structure for the facility, based on cashflow from MCPH's operating subsidiaries. Mizuho is joined in this financing facility by ING, Calyon, ABN AMRO and National Commercial Bank of Jamaica. Mizuho, ING, Calyon and ABN AMRO are the mandated lead arrangers. Mizuho also acted as financial advisor to Marubeni in its successful April 2007 bid for the equity shares of Mirant Caribbean Holdings.

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 Mizuho Corporate Bank, together with affiliates including Mizuho Securities, 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, 2007.

Contact Information: For further information, contact: Mizuho Corporate Bank, Ltd. Seth Martin 212-282-3867