The Industrial Bank Co., Ltd (the“Company”) and all members of the Board of Supervisors 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 notice for convention of the twelfth meeting of the sixth Board of Directors of the Industrial Bank Co., Ltd. was issued on September 16, 2008 and the meeting was held in Fuzhou on October 10, 2008. The number of directors eligible for attending the meeting was 15. The actual number of directors that attended the meeting was 15 (among them, Director Li Xiaochun entrusted Gao Jianping, Chairman of the Board, to exercise his voting right on his behalf on matters to be deliberated in the meeting). Thus, the meeting complied with the relevant regulations of the Company Law of the People's Republic of China and the Company's Articles of Association.
Presided over by Gao Jianping, Chairman of the Board, the meeting deliberated and approved the following two motions:
I. Plan on development of branches for 2008-2009.
The meeting approved the plan. It also required the management to, while specifically reviewing and approving any matters concerning branches, be aware of changes in current situations, bear in mind the strategic requirements on the transformation of the business development model and profit-earning model of the Company, weigh in the difference in management basis and talent reservation between branches, and make differentiated implementation measures based on varied actual conditions between various branches, sub-branches in the same city and sub-branches in different cities.
Voting Result: In Favor: 15 votes; In opposition: 0 vote; Abstentions: 0 vote.
II. Motion on establishment of representative office in Taipei .
It was approved that a representative office of the Company is to be established in Taipei . Authorization was given to the senior management to make overall arrangement and specifically organize matters regarding establishment and implementation, etc.
Voting Result: In Favor: 15 votes; In opposition: 0 vote; Abstentions: 0 vote.
Board of Directors
Industrial Bank Co., Ltd.
October 14, 2008