The Industrial Bank Co., Ltd (the“Company”) and all members of the Board of Directors hereby warrant that the information contained in this announcement is true, accurate and complete, and assume joint and several liabilities for any false representation, misleading statement or material omission.
The eleventh meeting of the sixth session of the Board of Directors of the Industrial Bank was convened by means of correspondence. The notice for the meeting and motions for deliberation were issued on August 12, 2008. Voting opinions were collected on August 18, 2008. The number of directors eligible for voting was 15. The number of directors that actually cast votes was 15, which conformed to the relevant provisions of the Company Law of the People's Republic of China and the Articles of Association of the Company. The meeting examined and adopted the following two motions:
I. Deliberated and approved the 2008 Interim Report and its abstract.
Voting Result: In Favor: 15 votes; In Opposition: 0 vote; Abstention: 0 vote.
II. Deliberated and approved the motion regarding the basic credit line for COFCO.
The transaction is a related party transaction. The announcement regarding the details of the transaction can be found on the website of Shanghai Stock Exchange (www.sse.com.cn).
Voting Result: In Favor: 14 votes; In Opposition: 0 vote; Abstention: 0 vote
The related party director Chua Phuay Hee sat out the vote.
Board of Directors of Industrial Bank Co., Ltd.
August 20, 2008