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.
It's hereby announced that the Company recently received notification from the Finance Bureau of Fujian Province, the Company's biggest shareholder, stating that the State -owned Assets Supervision and Administration Commission of the State Council, through the circular Guo Zichan Quan [2008] No.609, has given its approval for the Fujian Huaxing Group Co., Ltd. to transfer the 20,053,632 shares it holds in the Company to the Finance Bureau of Fujian Province. This transfer is still subject to the approval of China Banking Regulatory Commission. Upon completion of the transfer, the Finance Bureau of Fujian Province will hold 1,040,053,632 shares of the Company, representing a stake of 20.80%.
Board of Directors, Industrial Bank Co., Ltd.
November 18, 2008