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 notice of the first meeting of the seventh Board of Directors of Industrial Bank was issued on October 20th, 2010, and was convened in Fuzhou on October 28th. 15 directors were required to attend the meeting, wherein, the number of directors that actually attended the meeting was fifteen. (Director Andrew Fung and Director Dekang Chen entrusted director Chua Phuay Hee and director Lim Peng Khoon respectively to exercise voting rights on their behalves). The meeting was convened in compliance with the provisions of the Company Law of the People’s Republic of China and the Articles of Associations of the Company. Six members of the Board of Supervisors attended the meeting as observers.The meeting was presided over by Chairman Gao Jianping. The following proposals were reviewed and adopted at the meeting:
I. Resolution on Electing Mr. Gao Jianping as Chairman of the Seventh Board of Directors
Voting Results: 15 votes in favor; 0 votes in opposition; 0 abstentions
II. Resolution on Composition of Committees under the Seventh Board of Directors
1. The Executive Committee consists of the following five members: Gao Jianping, Andrew Fung, Li Renjie, Kang Yukun and Chen Dekang. Gao Jianping is committee chairman.
2. The Risk Management Committee consists of the following five members: Liao Shizhong, Chua Phuay Hee, Lu XIaodong, Kang Yukun, and Ba Shusong. Independent director Ba Shusong is committee chairman.
3. The Audit and Related Party Control Committee consists of the following five members: Xu Chiyun, Tang Bin, Xu Bin, Li Ruoshan, and Lim Peng Khoon. Independent directors Li Ruoshan is committee chairman.
4. The Nomination Committee consists of the following five members: Chua Phuay Hee, Chen Dekang, Ba Shusong, Wu Shinong, and Lim Peng Khoon. Independent director Wu Shinong is committee chairman.
5. The Remuneration and Evaluation Committee consists of the following five members: Liao Shizhong, Andrew Fung, Xu Bin, Li Ruoshan and Wu Shinong. Independent director Wu Shinong is committee chairman.
Voting Results: 15 votes in favor; 0 votes in opposition; 0 abstentions
III. Resolution on Continuing to Appoint Mr. Li Renjie as President.
Voting Results: 15 votes in favor; 0 votes in opposition; 0 abstentions
IV. Resolution on Continuing to Appoint Mr. Kang Yukun, Mr. Chen Dekang, Mr. Jiang Yunming and Mr. Lin Zhangyi as Vice Pesident.
Voting Results: 15 votes in favor; 0 votes in opposition; 0 abstentions
V. Resolution on Continuing to Appoint Mr. Tang Bin as Secretary to the Seventh Board of Directors.
Voting Results: 15 votes in favor; 0 votes in opposition; 0 abstentions
VI. Third Quarter Report 2010.
Voting Results: 15 votes in favor; 0 votes in opposition; 0 abstentions
The meeting also listened to the operation report for January-September 2010.
The Board of Directors
Industrial Bank Co., Ltd
October 29, 2010