To whom it may concern:
March 28, 2013
Mizuho Securities Co., Ltd.

Conclusion of an Agreement between China Merchants Group and Mizuho Securities Co. Ltd. to Jointly

Establish a Private Equity Fund in China

Mizuho Securities Co., Ltd. (President & CEO: Hiroshi Motoyama; hereinafter "MHSC") hereby announces that MHSC and China Merchants Capital Investment Co., Ltd. (Chairman & CEO: Fu Yuning; hereinafter "CMC"), a wholly owned subsidiary of China Merchants Group Limited (Chairman: Fu Yuning; hereinafter "CMG"), have concluded an agreement to jointly establish a private equity fund with seed money from Japan and China, to invest in unlisted companies with growth potential.
MHSC entered into a memorandum of understanding with CMG group company China Merchants Securities Co., Ltd. (Chairman: Gong Shaolin) on August 12, 2011, but MHSC decided to conclude an agreement with CMC, a new asset management company established by CMG in 2012 with an eye to the future.
CMG is a state-owned enterprise under the direct management of the State-owned Assets Supervision and Administration Commission of the State Council (SASAC), which in 2012, the 140th year since the group's foundation, established CMC as a new core company to support the industries which have contributed to the development of China at home and abroad, including the shipping, port and harbor, shipbuilding, nationwide toll road network management, and construction machinery manufacturing businesses, as well as to support the development of industry in general and the advancement of service industries, with greater emphasis placed in recent years on the financial business, namely banking and securities services.
MHSC will jointly establish a fund management company with CMC in Hong Kong, and the two companies will cooperate closely on the establishment and operation of a fund, with the aim of building a fund business with the capability to offer a multi-layered global service, by leveraging the strength of MHSC's know-how in the fund business, Mizuho's global network, and CMG's business network in China.
MHSC sees this collaborative business with an Asian partner as a focal point for the development of the company's fund business, and views enhancing collaboration with CMG as something which will contribute significantly to future socioeconomic development.
End
[Outline of CMC]
Company name: China Merchants Capital Investment Co., Ltd. Location: Shenzhen, Guangdong Province, PRC
Wholly owned asset management subsidiary of CMG established in 2012 by CMG. CMC owns an offshore fund management company in Hong Kong.
[Outline of CMG]
Company name: China Merchants Group Limited
Location: Hong Kong Special Administrative Region of the PRC
The company is state-owned enterprise with a 140 year history, and evolved from a government-funded shipping organization founded during the Qing dynasty, in 1872, by the Premier Li Hongzhang. The main businesses of CMG cover the core sectors of transportation and related infrastructure in particular (ports and harbors, toll roads, and logistics) as well as real estate development and the asset management and financial business, and the group has many companies operating under its umbrella.

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