ANNOUNCEMENT ON RESOLUTION OF 2006 FIRST EXTRAORDINARY GENERAL SHAREHOLDERS’ MEETING  The 2006 first extraordinary general shareholders’ meeting of Industrial Bank Co., Ltd. was held on the morning of October 17, 2006 in Fuzhou. 73 shareholders attended the meeting, holding an aggregate of 3,770,639,182 shares which represented 94.29% of the Bank’s total 3.999 billion shares.
 
The meeting was chaired by Mr. Gao Jianping, Chairman of the Bank. The Proposal on Issuing Subordinated Debts was reviewed and approved through open ballot voting. The voting result was as follows: 3,730,639,182 shares voted in favor, 4000 shares against and 0 shares abstained. The meeting also listened to Report on Relevant Rectification Taken Based on CBRC’s Annual Regulatory Report 2005 on Industrial Bank.
 
Beijing King & Wood PRC Lawyers witnessed on-site the legitimacy and validity of convocation procedures of the meeting.