The fifth session of the fifth Board of Directors was held in Fuzhou on June 21, 2005. Chairman Gao Jianping presided over the meeting, at which, the Report on Business Performance from January to May in 2005 was heard, and the following proposals were reviewed and approved: Proposal on Nominating Mr. Ba Shusong as Candidate for Independent Director of the Fifth Board of Directors, Proposal on Revising Provisional Measures on Shareholding Management, Industrial Bank’s initial Public Offering Prospectus, Accounting Report for 2002, 2003, 2004 and First Quarter of 2005, Proposal on Adjustment of IPO Proceeds Utilization Plan, Plan on Withdrawing General Reserve from Retained Earnings, Report on Cooperation with Hang Seng Bank on Credit Card Business, Proposal on Investing in Construction of Shanghai Business Operation Center, and Proposal on Revising Measures on Implementation of Credit Asset Classification.