Aozora Bank, Ltd.

Aozora Bank, Ltd. (Aozora Bank) announces issuance of 2-year Aozora Debentures,
Tokyo(April 13, 2010) – Aozora Bank announced issuance of 2-year Aozora
Debentures, No.170 as follows:
1. Issuer
:
Aozora Bank, Ltd.

2.Way of Issue
:
Offering Issue Minimum Increment (Denomination) 50 million Yen
3. Coupon Rate
:
0.90% per annum
4. Issue Price
:
Par (¥100 per ¥100)

5. Redemption Price
:
Par (¥100 per ¥100)

6. End of Offering
:
Friday, April 16, 2010

7. Issue Date
:
Tuesday, April 27, 2010

8. Maturity Date
:
Friday, April 20, 2012
9. Coupon Payment : Each
20
th
day of April and October as well as on
the maturity date

10. Issuing and Paying Agent :
Aozora Bank, Ltd.