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 Company has recently received the Reply on Approving the Opening of Industrial Bank Financial Leasing Co., Ltd. [(YJF(2010) No. 401)]from China Banking Regulatory Commission. The Company has obtained regulatory approval to open its full-funded Industrial Bank Financial Leasing Co., Ltd. The detailed issues approved are as follows:I. The Industrial Bank Financial Leasing Co., Ltd. has been approved to open for business. The Chinese name of the subsidiary is“兴业金融租赁有限责任公司” and the English name is ““Industrial Bank Financial Leasing Co., LTD”. II. The subsidiary’s registered capital is RMB2 billion. It is solely funded by the Company. III. The subsidiary is approved to carry out the following business: capital leasing, receiving leasing deposit, transferring rentals receivable to commercial banks, issuing financial bonds with permission, interbank lending, borrowing from financial institutions, overseas foreign exchange borrowing, selling off and disposing of leasing property, economy consultancy, other business as approved the China Banking Regulatory Commission. IV. The qualifications of the subsidiary’s director and senior management members have been approved. V. The subsidiary’s Articles of Association has been approved. The Company will complete relevant procedures prior to its opening for business.
Board of Directors
Industrial Bank Co., Ltd.
August 30, 2010