News Release
Mitsubishi Estate December 12, 2003


Securitization Scheme Announced for Acquisition of the
"Mizuho Corporate Bank Head Office"

Mitsubishi Estate Co., Ltd. has announced that it and other investors have jointly established a special-purpose company (SPC) for the purpose of acquiring the property trust beneficial interest of the Mizuho Corporate Bank Ltd. Head Office Building from Mizuho Corporate Bank Ltd.

 
   

1.

Real Estate: Mizuho Corporate Bank Ltd. Head Office Building

Site

 

 

 

Location: 1-8-1 Marunouchi, Chiyoda Ward, Tokyo, Japan

 

 

Land area: 6,780.46m2

 

Building

 

 

 

No. of floors: 5 underground, 15 above ground

 

 

Total floor area: 74,088.47m2

 

 

Construction completed: December 1973

 

2.

Scheme

 
(1)

Mizuho Corporate Bank has established a trust for the Head Office building with Mizuho Trust and Banking.
(2)

Utilizing a nonrecourse loan, the SPC shall acquire the property trust beneficiary interest.

 


3.

Cost Incurred by the SPC for Property Trust Beneficiary Interest
86.4 billion yen

 


4.

Date of Acquisition

 
(1)

Signing of contract: December 12, 2003
(2)

Scheduled transfer date: December 25 ,2003

 


5.

Other

 

Mitsubishi Estate shall lease the building to Mizuho Corporate Bank (under a fixed term lease) upon conclusion of the master lease with Mizuho Trust and Banking, which will act as the trustee.