Announcement on Subsidiary Renaming

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.

As approved by CBRC Fujian Bureau, and rectified by State Administration of Commerce and Industry and Fujian Bureau thereof, Union Trust Co., Ltd, a subsidiary of Industrial Bank changes its name to China Industrial International Trust Limited, abbreviation of the name is Industrial Trust.

Board of Directors of Industrial Bank

May 27, 2011