Announcement on the Industrial Bank Co., Ltd. and the Fujian
Provincial Department of Finance’s Equity Transfer Settlement

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.

After being deliberated and approved by the 18th session of the 6th Board of Directors, the Company transferred 120,640,000 shares of Industrial Securities Co., Ltd. in total repossessed by the Fuzhou Branch and Xiamen Branch for the repayment of debts to the Fujian Provincial Department of Finance for a consideration of RMB 804,669,000 in 2009. Please see the “Announcement on the Disposal of the Repossessed Equity and Related Party Transaction” published on October 31, 2009. As agreed in the equity transfer contract, the transfer price shall be paid in installments. The Company had received the first installment of the equity transfer payment of RMB 241,401,000 at the end of 2009.

As at the date of the announcement, the Company had received the second installment of the transfer payment of RMB 563,268,000 from the Fujian Provincial Department of Finance, and the foregoing equity transfer between the Department and the Company has been fully settled. The transaction for the disposal of repossessed equity was recognized as gains on available-for-sale equity investment disposal, so it does not have any direct influence on the profits and losses of this year.

Board of Directors of Industrial Bank Co., Ltd.

May 19, 2011