Announcement on Obtaining Approval to Issue Subordinated Debts

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 obtained approval from China Banking Regulatory Commission (CBRC) and People’s Bank of China (PBOC) to issue subordinated debts. In accordance with CBRC’s Rely to Industrial Bank on Subordinated Debts Issuance (YJF (2011) No. 181) and Administrative Permit Letter form PBOC (YSCXZYZ (2011) No. 84), the Company has been approved to issue publicly no more than RMB10 billion subordinated debts in national interbank bonds markets, and the proceeds of the issue will be recognized as supplementary capital of the Company in accordance with Administrative Measures on Capital Adequacy Ratio of Commercial Banks.

The Company will carry out management and information disclosure with regard to the subordinated debts issue in accordance with Administrative Measures on Issues of Commercial Bank Subordinated Debts and Operational Procedures of Financial Bonds Issuance and Management in National Interbank Bonds Markets. After the issue, the subordinated debts will be trading in the national interbank bonds markets in accordance with relevant regulations.

Board of Directors,

Industrial Bank Co., Ltd.

23 June, 2011