Announcement on Independent Director Resignation

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 Board of Directors received a written letter of resignation on March 16, 2012 from Mr. Ba Shusong stating that he intended to resign as independent director of the Company. Since Mr. Ba Shusong has served as the Company’s independent director for consecutively six years, according to the regulatory requirement that any independent director in listed companies shall not serve more than six consecutive years, therefore Mr. Ba Shusong submitted his resignation as independent directors to the Company’s Board of Directors.

Mr. Ba Shusong’s resignation will make the number of the Company’s independent directors smaller than the legally required number. Pursuant to relevant rules of the Company’s Articles of Association, Mr. Ba Shusong will continue to serve as the Company’s independent director before a new independent director being elected at the general shareholders’ meeting in accordance with the law, administrative regulations and the Company’s Articles of Association.

The Board of Directors hereby extends its heartfelt gratitude to Mr. Ba Shusong for the outstanding contributions he has made to the Company and the Board of Directors during his tenure as independent director.

Board of Directors,

Industrial Bank Co., Ltd.

March 20, 2012